This week, IPOs for Tenneco, Emmvee, and PhysicsWallah were launched. Tenneco garnered the most investor interest, Emmvee is considered good for the long term, while caution is advised for PhysicsWallah due to losses and risks.
IPO News: Three major IPOs were launched in the stock market this week, bringing new opportunities for investors. The companies are Tenneco Clean Air, Emmvee Photovoltaic, and PhysicsWallah. These three IPOs collectively aim to raise approximately 10,000 crore rupees. According to filings, PhysicsWallah plans to raise 3,480 crore rupees, Emmvee Photovoltaic 2,900 crore rupees, and Tenneco Clean Air 3,600 crore rupees.
PhysicsWallah and Emmvee IPOs Start Slow
PhysicsWallah's IPO opened on November 11th, but investor interest remained low until the second day. So far, only 13% of the total shares have been subscribed. The company planned to sell 186.2 million shares, but bids were received for only 23.82 million shares. This IPO will close on November 13th.
Similarly, Emmvee Photovoltaic's IPO has also seen slow subscription. In two days, its subscription reached only 17%. The company aimed to sell 77 million shares, but bids were received for just over 13 million shares.
Growing Investor Interest in Tenneco Clean Air
In contrast, Tenneco Clean Air India's IPO has received a good response from investors. This IPO opened on November 12th, and 42% of the total shares were sold on the very first day. The company aimed to sell 66 million shares, and bids were placed for over 27 million shares. The IPO will remain open until November 14th. Initial figures indicate that investors are prioritizing Tenneco Clean Air.
Highest Demand for Tenneco Clean Air in Grey Market
The demand for Tenneco Clean Air shares is highest even in the grey market. Its unlisted shares are being bought and sold at 482 rupees, whereas the company had set its upper price band at 397 rupees. This means the share is selling at approximately a 21% premium in the grey market. In contrast, Emmvee Photovoltaic and PhysicsWallah shares are not showing significant gains in the grey market. Emmvee's premium is only 3 rupees, and PhysicsWallah's is 1.25 rupees.
Brokerage Perspective
Experts believe that Tenneco Clean Air is currently the best option among the three IPOs. The company holds a b position in the industry controlling vehicular emissions. Upcoming regulations and stricter norms will directly benefit Tenneco. Reliance Securities and SBI Securities have recommended buying this IPO.
Emmvee Photovoltaic is also considered good for long-term investment. Solar panel manufacturing in India is growing rapidly, and Emmvee can benefit from this in the coming years. The company plans to increase its production capacity to 16 gigawatts by 2028.
Despite rapidly increasing revenue, PhysicsWallah's company is currently operating at a loss. In FY25, the company incurred a loss of 216 crore rupees. Earning profit is challenging due to rising competition and expenses. For this reason, SBI Securities and Angel One have advised caution and given a 'Neutral' rating for this IPO.
