Upcoming IPOs: From Muthoot Microfin to Electro Force —12 new companies to raise ₹4,600 crore from IPOs this week
- Dalal Street is poised for a bustling week ahead, commencing on December 18, with the introduction of 12 new IPOs, which will collectively raise ₹4,600 crore, an increase from the ₹4,000 crore raised in the previous week.
Amid the buoyant atmosphere at Dalal Street, where benchmark indices, broader markets, and various sectors continually reach new milestones, the primary market is exhibiting increased vitality. This presents numerous investment prospects for investors, as a total of 12 companies are set to launch their initial public offerings (IPOs) next week, accompanied by eight scheduled new listings.
Dalal Street is poised for a bustling week ahead, commencing on December 18, with the introduction of 12 new IPOs, which will collectively raise ₹4,600 crore, an increase from the ₹4,000 crore raised in the previous week.
“A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiple in listed peers. Next week looks promising, more than half a dozen companies will hit the market with their IPOs. IPO of Inox Limited, Muthoot Microfin, Motisons Jewellers, Suraj Estate, Happy Forgings, RBZ Jewellers, Credo Brands and Azad Engineering are slated to open next week. Markets are likely to witness a robust capital raise next year as well. There are more than 65 IPO documents filed with Sebi. Of these, 25 have already received Sebi nod,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
In the forthcoming week, data indicates that the cumulative fundraising by 239 companies in the current calendar year, encompassing SMEs, is projected to be ₹57,720 crore. This figure falls short of the ₹61,900 crore raised by 150 IPOs launched in the preceding year.
Here’s a list of upcoming IPOs to hit the primary market next week —
- Muthoot Microfin Limited IPO
Muthoot Microfin IPO will open for subscription on December 18, 2023 and will close on December 20, 2023. It is a book-built issue of ₹960 crores and a combination of fresh issue of 2.61 crore shares aggregating to ₹760 crores and offer for sale of 0.69 crore shares aggregating to ₹200 crores. The price band is set at ₹277 to ₹291 per share.
2. Suraj Estate Developers IPO
Suraj Estate Developers IPO to open for subscription on December 18, 2023 and will close on December 20, 2023. It is a book-built issue of ₹400.00 crores and is entirely a fresh issue of 1.11 crore shares. The IPO price band is set at ₹340 to ₹360 per share.
3. Motisons Jewellers Limited IPO
Motisons Jewellers IPO will be opening for subscription on December 18, 2023 and will be closing on December 20, 2023. It is a book-built issue of ₹151.09 crores and is entirely a fresh issue of 2.75 crore shares. The IPO price band is set at ₹52 to ₹55 per share.
4. Happy Forgings Limited IPO
Happy Forgings IPO opens for subscription on December 19, 2023 and closes on December 21, 2023. It is a book-built issue and comprises fresh issue of ₹ 400 crore and offer for sale of 0.72 crore shares. The IPO price band is set at ₹808 to ₹850 per share.
5. Credo Brands Marketing Limited IPO
Mufti Menswear IPO to open for subscription on December 19, 2023 and to close on December 21, 2023. It is a book-built issue of ₹549.78 crores and is entirely an offer for sale of 1.96 crore shares. The IPO price band is set at ₹266 to ₹280 per share.
6. RBZ Jewellers Limited IPO
RBZ Jewellers IPO will open for subscription on December 19, 2023 and will close on December 21, 2023. It is a book-built issue of ₹100.00 crores and is entirely a fresh issue of 1 crore shares. The IPO price band is set at ₹95 to ₹100 per share.
7. Azad Engineering Limited IPO
Azad Engineering IPO opens for subscription on December 20, 2023 and closes on December 22, 2023. It is a book-built issue of ₹740 crores and is a combination of fresh issue of ₹240 crores and offer for sale of ₹500 crores. The IPO price band is set at ₹499 to ₹524 per share.
8. Innova Captab Limited IPO
Innova Captab IPO will be opening for subscription on December 21, 2023 and will be closing on December 26, 2023. It is a book-built issue of ₹570 crores and comprises fresh issue of ₹320 crore and offer for sale of 0.56 crore shares. The IPO price band is set at ₹426 to ₹448 per share.
9. Sahara Maritime Limited IPO
Sahara Maritime IPO opens for subscription on December 18, 2023 and closes on December 20, 2023. The IPO is a fixed price issue of ₹6.88 crores and is entirely a fresh issue of 8.5 lakh shares. The IPO price is ₹81 per share.
10. Electro Force (India) Limited IPO
Electro Force India IPO will open for subscription on December 19, 2023 and will close on December 21, 2023. It is a fixed price issue of ₹80.68 crores. The issue is a combination of fresh issue of 60 lakh shares aggregating to ₹55.80 crores and offer for sale of 26.75 lakh shares aggregating to ₹24.88 crores. The IPO price is ₹93 per share.
11. Shanti Spintex Limited IPO
Shanti Spintex IPO will open for subscription on December 19, 2023 and will close on December 21, 2023. It is a book-built issue of ₹31.25 crores and is a combination of fresh issue of 26.88 lakh shares aggregating to ₹18.82 crores and offer for sale of 17.76 lakh shares aggregating to ₹12.43 crores. The IPO price band is set at ₹66 to ₹70 per share.
12. Trident Techlabs Limited IPO
Trident Techlabs IPO to open for subscription on December 21, 2023 and to close on December 26, 2023. It is a book-built issue of ₹16.03 crores and is entirely a fresh issue of 45.8 lakh shares. The IPO price band is set at ₹33 to ₹35 per share.
New listings next week —
- DOMS Industries – DOMS IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 20, 2023.
- Indian Shelter Finance Corporation – India Shelter Finance IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 20, 2023.
- Presstonic Engineering – Presstonic Engineering IPO will list on NSE SME with tentative listing date fixed as Monday, December 18, 2023.
- S J Logistics (India) – S J Logistics IPO will list on NSE SME with tentative listing date fixed as Tuesday, December 19, 2023.
- Shree OSFM E-Mobility – Shree OSFM E-Mobility IPO will list on NSE SME with tentative listing date fixed as Thursday, December 21, 2023.
- Siyaram Recycling Industries – Siyaram Recycling IPO will list on BSE SME with tentative listing date fixed as Thursday, December 21, 2023.
- Benchmark Computer Solutions – Benchmark Computer Solutions IPO will list on BSE SME with tentative listing date fixed as Thursday, December 21, 2023.
- Inox India Limited – Inox CVA IPO will list on BSE, NSE with tentative listing date fixed as Thursday, December 21, 2023.
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