IPOs today: 6 mainboard IPOs worth over ₹3,100 crore open for subscription on December 19; check details
- The Indian stock market has been experiencing a bullish upswing, with both the benchmark indices, Sensex and Nifty, touching record highs and the broader markets mirroring this positive trend. This has also contributed to heightened optimism within the IPO market.
The primary markets are currently abuzz with a number of companies making their debut on Dalal Street through initial public offerings (IPOs), against the backdrop of robust investor sentiment.
The Indian stock market has been experiencing a bullish upswing, with both the benchmark indices, Sensex and Nifty, touching record highs and the broader markets mirroring this positive trend. This has also contributed to heightened optimism within the IPO market.
On Tuesday, December 19, a total of six mainboard IPOs will be open for subscription. These companies collectively aim to raise a substantial amount of ₹3,100 crore from the primary market. In addition to these, three small and medium enterprise (SME) IPOs will also be available for subscription, presenting investors with compelling investment opportunities in the market.
Here are key details about the IPOs open today:
1. Suraj Estate Developers IPO
The IPO of real estate construction company, Suraj Estate Developers, opened for public subscription on December 18 and will close on Wednesday, December 20. The ₹400-crore worth Suraj Estate Developers IPO is entirely a book built issue and a fresh issue of 1.11 crore equity shares.
The Suraj Estate Developers IPO price band has been fixed at ₹340 to ₹360 per share. The IPO lot size is 41 shares and the minimum investment amount required by retail investors is ₹14,760.
ITI Capital Ltd and Anand Rathi Securities are the book running lead managers of the Suraj Estate Developers IPO, while Link Intime India Private Ltd is the IPO registrar.
Suraj Estate Developers IPO has been subscribed 78% so far on the first day.
2. Muthoot Microfin IPO
Muthoot Microfin IPO opened for subscription on December 18 and booked 95% on the first day. The public issue will close on December 20. Muthoot Microfin IPO price band has been set at ₹277 to ₹291 per share.
The company plans to raise ₹960 crore from the maiden offer that comprises a fresh issue of 2.61 crore equity shares aggregating to ₹760 crore and an offer for sale (OFS) of 68.72 lakh shares aggregating to ₹200 crore.
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3. Motisons Jewellers IPO
Jewellery company Motisons Jewellers also launched its IPO on December 18 to raise ₹151.09 crore. Motisons Jewellers is entirely a fresh issue of over 2.74 crore equity shares being sold at a price band of ₹52 to ₹55 per share. The public issue will close on December 20.
Motisons Jewellers IPO has seen stellar response from investors as the public issue got subscribed 33.14 times on the first day itself.
4. Happy Forgings IPO
Happy Forgings IPO commences on Tuesday, December 19 and will conclude on Thursday, December 21. The company aims to raise ₹1,008.59 crore from the offer which comprises a fresh issue of ₹400 crore and an OFS of 71.59 lakh equity shares.
Happy Forgings IPO price band has been set at ₹808 to ₹850 per share. Shares of the company are available at a premium of ₹411 apiece in the grey market today, as per market observers.
5. Credo Brands Marketing IPO
Credo Brands Marketing is set to launch its IPO today on December 19 with an aim to raise around ₹549.78 crore. The company offers casual clothing brand “Mufti”.
Mufti Menswear IPO is entirely an OFS of 1.96 crore equity shares and the IPO price band has been set at ₹266 to ₹280 per share. The company has already raised ₹164.93 crore from anchor investors ahead of the IPO. The public issue will close on December 21.
6. RBZ Jewellers IPO
Jewellery company RBZ Jewellers will also launch its IPO today on December 19. The ₹100 crore worth RBZ Jewellers IPO, which will close on December 21, is entirely a fresh issue of 1 crore equity shares. The IPO price band is set at ₹95 to ₹100 per share.
The gold-jewellery manufacturer RBZ Jewellers has already raised over ₹21 crore from anchor investors ahead of its IPO. The company informed the bourses that it has allocated 21,00,000 equity shares at ₹100 per share on Monday, December 18, 2023, to anchor investors.
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