It was a busy day in the primary market on Wednesday as Meesho, Aequs, and Vidya Wires made their mainboard debuts. While e-commerce major Meesho delivered a blockbuster 45.2% debut, precision manufacturer Aequs opened with a healthy 13% premium, while Vidya Wires made a flat entry on the bourses.

Shares of Aequs listed at ₹140 on the BSE and the NSE, a premium of 12.90% over the initial public offering (IPO) price of ₹124, giving the company a market capitalisation of ₹9,389.32 crore.

Meesho delivered the strongest debut, listing at ₹161.20, a 45.23% premium to its ₹111 issue price, taking its market cap to ₹72,751.67 crore.

On the other hand, Vidya Wires’ shares kicked off trading a tad higher at ₹52.13, compared with the issue price of ₹52, taking its market cap to ₹1,108.76 crore. On the NSE, the stock debuted flat at ₹52, at par with the IPO price.

Meanwhile, the equity benchmarks—the BSE Sensex and the NSE Nifty—were trading 0.3% higher, tracking firm cues from global peers.

Ahead of its listing, the Aequs IPO commanded a GMP of ₹24, indicating a likely listing around ₹148—a 19.35% premium to the issue price. Vidya Wires’ last GMP stood at ₹3.5 per share, suggesting a listing near ₹55.5, up 6.73%.

The Aequs IPO was subscribed 101.63 times, receiving bids worth ₹50,401 crore for its ₹922 crore public issue, priced at ₹118–124 per share. The IPO garnered strong response from institutional investors, with the QIB segment subscribing 121x, generating bids of ₹32,262 crore. The NII category attracted 80.6x subscription worth ₹10,976 crore, while retail bidders subscribed 78x, contributing ₹7,083 crore. The employee portion, too, saw solid interest at 36x. Before opening to the public, Aequs had secured ₹414 crore from anchor investors.

The IPO of the Karnataka-based precision manufacturing company, having a strong presence in the aerospace segment, comprised a fresh issue of equity shares aggregating to ₹670 crore and an OFS of 2.03 crore shares worth ₹251.81 crore.

Aequs plans to utilise ₹433.17 crore from the fresh issue towards repayment or prepayment of outstanding borrowings. Another ₹64 crore will be used for capital expenditure towards machinery and equipment purchases, while the remaining funds will be used for inorganic growth initiatives, strategic acquisitions, and general corporate purposes.

On the other hand, Vidya Wires’ ₹300 crore IPO, at an issue price of ₹48 per share, received bids worth ₹5,531 crore. The NII category led with 51x subscription, contributing ₹2,323 crore, while retail investors subscribed 28x, bidding ₹2,905 crore. The QIB portion was subscribed over 5x, adding ₹302 crore in bids. The company had earlier raised ₹90 crore through anchor investors.

The IPO of Gujarat-based copper and aluminium wires manufacturer was a mixture of a fresh issue of 5.27 crore equity shares aggregating to ₹274 crore and an OFS of 0.50 crore shares worth ₹26.01 crore.

The company intends to utilise the net proceeds from the fresh issue towards capital expenditure of ₹140 crore for setting up a new project under its subsidiary ALCU, ₹100 crore for repayment or prepayment of certain outstanding borrowings, with the remaining funds allocated for general corporate purposes.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)