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Business News/ Markets / Stock Markets/  IPOs This Week: Dalal Street to remain buzzing as 6 new companies gear up to raise 7,300 crore; check full list here

IPOs This Week: Dalal Street to remain buzzing as 6 new companies gear up to raise ₹7,300 crore; check full list here

  • The primary market is all set to be buzzing in the coming week as six new companies are tapping Dalal Street to raise over 7,300 crore via initial public offering (IPO).

IPOs next week; Photo: iStock

The primary market is all set to be buzzing in the coming week as six new companies are tapping Dalal Street to raise over 7,300 crore via initial public offering (IPO). Tata Technologies and Indian Renewable Energy Development Agency (IREDA) are among the biggest among six companies.

‘’In terms of the number of IPOs, India’s share in the global pie has increased sharply. In 2021, India’s share in the total number of IPOs globally stood at 6 per cent. It surged to 11 per cent in 2022. In the first half of 2023, India’s share in the number of global IPO’s has rose to 13 per cent,'' said said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd, a mid-market investment bank.

Tata Technologies IPO

The most long-awaited will open for subscription on November 22 and will close on November 24. The company has fixed a price band of 475 - 500 per share. This is the first IPO from the Tata Group after almost 19 years.

The engineering services firm, valued at over 20,000 crore in the market, seeks to raise over 3,042.51 crore through the Offer for Sale (OFS). The promoters, Tata Motors, along with investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I, are the participating selling shareholders in the OFS.

IREDA IPO

The Mini Ratna enterprise, which will be among the first among six IPOs in the mainboard segment, will open for subscription on November 21 and will close on November 23. The price band for the IREDA IPO has been fixed at 30 - 32 per share.

The financial entity aims to raise over 2,150.21 crore by offering 67.19 crore equity shares in a public issue at the upper price limit. The initial public offering (IPO) encompasses a new offering of 40.31 crore equity shares valued at 1,290.13 crore by the company, along with a government offer-for-sale (OFS) involving 26.87 crore shares valued at 860.08 crore.

Gandhar Oil Refinery India IPO

The white-oils manufacturer will open for bidding on November 22 and will close on November 24 with a price band at 160 - 169 per share. The Mumbai-based company intends to raise over 500.69 crore from the issue.

The IPO includes a new issuance of shares valued at 302 crore, along with an Offer for Sale (OFS) of 1.17 crore equity shares totaling 198.69 crore. The selling shareholders, including promoters Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh, will participate in the OFS.

Notably, Green Desert Real Estate Brokers, Denver Bldg Mat & Décor TR LLC, and Fleet Line Shipping Services LLC, among the selling shareholders, will completely divest from the company by selling their entire stake through the OFS.

Fedbank Financial Services IPO

Fedbank Financial Services will be the third company to launch its IPO in the coming week, looking to raise over 1,092 crore. The IPO will open for bidding on November 22 and will close on November 24.

The price band for the Fedbank Financial Services IPO has been fixed at 133 - 140 per share.

The Non-Banking Financial Company (NBFC) IPO, supported by the Federal Bank and True North Fund, includes a new issuance of shares valued at 600 crore and an offer-for-sale (OFS) featuring 3.5 crore equity shares worth 492.26 crore, with the selling shareholders being the Promoter, The Federal Bank, and the investor True North Fund VI LLP, a private equity fund.

Flair Writing Industries IPO

The Flair Writing Industries, which is a Mumbai-based stationery products manufacturer, will float its IPO during November 22 and November 24 with a price band of 288 - 304 per share.

The company intends to raise 593 crore through its inaugural offering, comprising 292 crore in new shares and a 301 crore Offer for Sale (OFS) by the Rathod family.

Rocking Deals Circular Economy IPO

The B2B re-commerce company is set to initiate its public offering for subscription on November 22, with a share price range of 136 - 140. The subscription window will remain open until November 24.

Specializing in bulk trading of surplus inventory, open-boxed items, re-commerce products, and refurbished goods, the company aims to raise 21 crore through the IPO. This fundraising effort exclusively involves a fresh issue of shares.

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