Sancode Tech IPO, MOS Utility IPO close bidding today: Subscription data, GMP and other key points

Two SME IPOs that closed bidding today are MOS Utility and Sancode Tech. Sancode Technologies' initial public offering (IPO) consists of 1,095,000 equity shares with a face value of Rs. 10 that may total up to Rs. 5.15 Crores. Priced at Rs. 47 per share, the issuance. 3000 shares are the required minimum order quantity. On March 31, 2023, the IPO began trading. It ended on April 6, 2023. In contrast, the MOS Utility IPO is an SME IPO that would raise up to ₹49.97 crores through the sale of 6,574,400 equity shares with a face value of ₹10. MOS Utility IPO issue price has been fixed at ₹72 to ₹76 per share and 1600 shares are the required minimum order quantity. On March 31, 2023, the IPO began trading. It ended on April 6, 2023.

Sancode Tech SME IPO

On April 6, 2023, at 2:00 PM, there are 3.68 times as many subscriptions to the Sancode Technologies IPO. In the retail category, the public issue was subscribed to 3.39 times, and in the NII category, 3.98 times. In the retail category, a total of 17,58,000 shares were bid, compared to the share quota of 5,19,000, while a total of 20,64,000 shares were bid in the NII category, compared to the share quota of 5,19,000. Sancode Technologies' SME IPO's GMP displays a discount price of ₹5. According to the grey market, Sancode Technologies' SME IPO's expected listing price as of the current GMP is Ra 42 since the ceiling price is 47.

A R Ramachandran, Co-founder & Trainer-Tips2trades said “Fundamentals relating to PE valuations, turnaround from loss to profit with steady growth in both assets and reserves makes Sancode Technologies Limited a decent subscription for investors to buy for listing gains. Post listing, investors should exit and wait for 1-2 quarters to confirm stability in financial performance to add more to their portfolio."

Sancode Technologies Ltd was founded in 2016 and provides software platforms and solutions based on APIs.

MOS Utility SME IPO

he MOS Utility SME IPO was subscribed 21.14 times on Apr 6, 2023 7:30:00 PM. 11.98 times in the retail category, 11.67 times in the QIB category, and 57.90 times in the NII category saw subscriptions for the public offering. The total number of shares bid for the retail category was 2,61,85,600 compared to the shares offered of 21,85,600, the total number of shares bid for NII category was 5,42,86,400 compared to the shares offered of 9,37,600, and the total number of shares bid for QIB category was 1,77,72,800 compared to the offered shares of 15,23,200.

MOS Utility IPO latest GMP today is ₹5 as of April 6th 2023 05:36 PM. The maximum issue price plus the current GMP, which is given at the price band of Rs. 76, is included in the expected listing price of Rs. 81 for the MOS Utility SME IPO. The issue is expected to list at an upside gain of 6.58%.

A R Ramachandran, Co-founder & Trainer-Tips2trades said “A sudden drop in Reserves & surplus, high debt-equity ratio for a technology based company coupled with inconsistent profit growth makes the current valuation based on PE ratio very high for MOS Utility Limited. Investors are advised to wait for lower levels post listing."

MOS Utility Ltd, a 2009 incorporation, offers digital goods and services in the B2C, B2B, and financial technology sectors. Banking, travel, insurance, utility services, entertainment services, franchisee, and other services make up MOS Utility's seven main business segments.