ETHOS IPO
ETHOS Limited (ETHOSLTD) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 May 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.8% (likely range -10% to +12%), day's high +3.5%, chance of a gain 33%. Actual: -6.0% at the open, -4.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 11,83,115 | 12,58,612 | 1.06x | |
| NII (HNI) total | 8,39,053 | 12,43,754 | 1.48x | |
| Retail | 19,57,789 | 16,36,284 | 0.84x | |
| Total | 39,79,957 | 41,38,650 | 1.04x |
Bids on NSE and BSE together, as published by NSE, as of 20 May 2022, 05:00 PM. Shares offered exclude the anchor portion. 34% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to ETHOS's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Prudent Corporate Advisory ServicesMay 2022 | 1.26x | 0.99x | 1.29x | 1.22x | ₹539 Cr | +3.2% | +3.2% |
| GTPL HathwayJun 2017 | 1.48x | 2.85x | 0.99x | 1.53x | ₹492 Cr | 0.0% | +2.9% |
| S J S EnterprisesNov 2021 | 1.42x | 2.32x | 1.38x | 1.59x | ₹817 Cr | 0.0% | +1.7% |
| Infibeam IncorporationMar 2016 | 0.86x | 2.23x | 1.31x | 1.11x | ₹1,148 Cr | +4.9% | +8.1% |
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| Star Health and Allied Insurance CompanyDec 2021 | 1.03x | 0.19x | 1.10x | 0.79x | — | -6.1% | +4.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Emkay Global Financial Services | 10 | +16.7% | 60% |
| InCred Capital Wealth Portfolio Managers | — | — | — |
Offer documents (NSE)
Frequently asked
What is the ETHOS IPO price band and lot size? ₹836–878 per share, with a lot of 17 shares, so the smallest retail bid is ₹14,926.
How many times has it been subscribed? 1.04x overall: QIB 1.06x, NII 1.48x, retail 0.84x.
How did it list? It opened at ₹825, -6.0% against the issue price of ₹878, and closed its first day -8.5%.
