Hy-Tech Engineers and Symbiotec Pharmalab experienced strong openings on their market debuts, with Hy-Tech soaring over 42% and Symbiotec showing steady gains. Meanwhile, Skyways Air Services closed below its issue price after drawing initial demand, highlighting varied investor reactions to recent IPOs.
Symbiotec Pharmalab and Hy-Tech Engineers delivered a strong start on their market debuts on Tuesday, while Skyways Air Services ended its first day below its offer price. According to BSE data, Hy-Tech Engineers rose 42.62% from its issue price of ₹53 to close at ₹75.59, giving it a free-float market capitalisation of ₹135.51 crore. Symbiotec Pharmalab finished at ₹1,095.95, a gain of 10.93% over its issue price of ₹988, with a free-float market value of ₹2,193.02 crore.
Skyways Air Services took a different path, closing at ₹125.65, or 8.95% below its issue price, and ending with a free-float market capitalisation of ₹376.74 crore. The mixed debut came after all three offerings had drawn healthy demand in the primary market, with the issues fully subscribed before listing.
Hy-Tech’s strong opening had been signalled in the grey market, where analysts and market trackers had pointed to a premium ahead of the listing. Business Standard reported last week that the company’s shares were trading well above the offer price in unofficial market activity, helped by robust subscription and investor interest in the hydraulic fittings maker’s financial profile. The company has reported operating margins of about 22%, according to that report.
The three IPOs closed for subscription on 27 August, according to market trackers, with Hy-Tech Engineers drawing particularly heavy demand. At the same time, Skyways Air Services had also seen strong bidding from institutional investors, even though that support did not carry through to the debut session. Symbiotec’s listing was steadier by comparison, reflecting a more modest but still positive reception from investors.
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