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Retail investors in top gear at IPOs, drive oversubscriptions

Mint Mumbai

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December 20, 2023

Companies listing their shares on the stock markets are basking in the frenzied attention of individual investors, a trend expected to continue into next year and make up for the tepid enthusiasm of institutional investors.

The initial public offerings of Happy Forgings, RBZ Jewellers, and Credo Brands Marketing were oversubscribed on Daylon Tuesday, while those of Muthoot Microfin, Suraj Estate Developers and Motisons Jewellers continued to attract strong retail interest on their second day.

The retail portion of RBZ Jewellers' IPO was oversubscribed by 4.5 times, followed by Mufti Jeans owner Credo Brands (3.2 times) and Happy Forgings (three times). Motisons Jewellers' IPO was oversubscribed by a staggering 64.3 times by retail investors on the second day, followed by Muthoot Microfin (four times) and Suraj Estate (3.8 times).

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