Three Stocks to Debut on Thursday: Amir Chand Jagdish Kumar, Sai Parenteral, and Powerica

IPO Listings Loom for Amir Chand Jagdish Kumar (Exports), Sai Parenteral, and Powerica Ltd

Shares of Amir Chand Jagdish Kumar (Exports), Sai Parenteral, and Powerica Ltd are set to list on the exchanges on Thursday after their initial public offerings (IPOs) witnessed healthy subscription during March 24-27. Among the three, Amir Chand Jagdish Kumar (Exports) is commanding the highest grey market premium (GMP), indicating modest listing gains.

According to Investorgain, Amir Chand Jagdish Kumar (Exports) shares are quoting a GMP of Rs 3.75, suggesting a potential upside of around 1.7-2 percent over the issue price. The company's Rs 440-crore IPO was subscribed 3.23 times on the final day of bidding. The firm has a diversified portfolio of rice varieties marketed under several in-house brands and ranks third among peers in terms of revenue. With a strong production capacity and expansion into the FMCG staples segment, the company is valued at 36.1 times FY25 earnings and 16.9 times FY26 earnings.

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Powerica shares were quoting a GMP of about 1 percent ahead of listing. The company's Rs 1,100-crore IPO was subscribed 1.45 times, driven largely by institutional demand. The qualified institutional buyers (QIBs) portion was subscribed 4.50 times, while non-institutional investors subscribed 44 percent of their quota. The retail investors' segment saw 15 percent subscription. Powerica is engaged in providing integrated power solutions, including diesel generator sets and medium-speed large generators across a wide capacity range.

Mahesh M. Ojha, Vice President – Research and Business Development at Kantilal Chhaganlal Securities, believes that Powerica appears reasonably valued, though it has seen a decline in net profit in the last financial year. He advises short-term investors to look to book profits, while fresh investors may wait for price stability post listing.

Meanwhile, Sai Parenteral's shares were indicating a flat GMP, suggesting a muted listing. The company operates in the pharmaceutical formulations space, including branded generics and contract development and manufacturing services for domestic and international markets. Ojha noted that Sai Parenteral's stock appears fairly valued based on its earnings multiples, and investors may consider booking profits if any on listing.