The bustling primary market is set to simmer in the week beginning November 20 with six companies ready to mop up around Rs 7,400 crore. The IPOs next week include Tata Technologies, the first Tata Group firm to go public almost 20 years, and Indian Renewable Energy Development Agency, the first government offering since LIC in May 2022.
IREDA, the Mini Ratna government enterprise, will be the first among five initial public offerings (IPOs) in the mainboard segment, opening for subscription on November 21 and closing on November 23. The price band for the offer has been fixed at Rs 30-32 per share.
The financial institution that provides assistance for new and renewable energy projects is planning to raise Rs 2,150.21 crore by selling 67.19 crore equity shares through the public issue at the upper price band. The IPO comprises a fresh issue of 40.31 crore equity shares worth Rs 1,290.13 crore by the company, and an offer-for-sale (OFS) of 26.87 crore shares worth Rs 860.08 crore by the government.
Its anchor book will be opened for a day on November 20, a day before the issue opening.
This has been the long-awaited IPO on the Street. Pune-based Tata Technologies will be opening its maiden issue on November 22 with a price band of Rs 475-500 per share. The first IPO from the Tata Group since TCS went pubic in 2004 will be closing on November 24.
The global engineering services company, which is available at a market capitalisation of more than Rs 20,000 crore, aims to mobilise Rs 3,042.51 crore through the OFS-only issue.
Promoter Tata Motors, and investors Alpha TC Holdings Pte Ltd, and Tata Capital Growth Fund I are the selling shareholders in the OFS.
The Mumbai-based white oils manufacturer, focussing on consumer and healthcare end-industries, will also float its initial public offering during November 22-24 at a price band of Rs 160-169 per share.
The company that makes several products across the personal care, healthcare and performance oils (PHPO), lubricants and process and insulating oils (PIO) divisions under the Divyol brand, intends to mop up Rs 500.69 crore from the issue. The offer consists of a fresh issuance of shares worth Rs 302 crore, and an OFS of 1.17 crore equity shares worth Rs 198.69 crore by selling shareholders including promoters (Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh)
Among selling shareholders, Green Desert Real Estate Brokers, Denver Bldg Mat & Décor TR LLC, and Fleet Line Shipping Services LLC will be exiting the company by selling the entire stake in the OFS.
The bidding for Fedbank IPO will also start from November 22, and continue till November 24. The non-banking finance company is planning to raise Rs 1,092.26 crore from the issue at the upper end of price band of Rs 133-140 per share.
The IPO by the Federal Bank and True North Fund-backed NBFC comprises a fresh issuance of shares worth Rs 600 crore, and an offer-for-sale (OFS) of 3.5 crore equity shares worth Rs 492.26 crore by the selling shareholders.
Promoter, The Federal Bank, and investor True North Fund VI LLP, the private equity fund, are the selling shareholders in the OFS.
The Flair Writing Industries IPO, too, will be open for bids from November 22 to 24. The price band for the offer has been fixed at Rs 288-304 per share.
The Mumbai-based stationery products manufacturing company aims to mop up Rs 593 crore from the maiden issue which consists of fresh shares worth Rs 292 crore and an OFS of Rs 301 crore by the Rathod family.
The anchor book of all the four IPOs will open on November 21, a day before the offer opening.
Rocking Deals Circular Economy IPO
Coming to the SME segment, the B2B re-commerce player will launch its public issue for subscription on November 22 at a price band of Rs 136-140 per share. The offer will close on November 24.
The company that primarily is into bulk trading of excess inventory, open boxed inventory, re-commerce products and refurbished products, aims for fund raising of Rs 21 crore via IPO which comprises only a fresh issue.
IPO closing next week
Dryers manufacturer Arrowhead Seperation Engineering will be closing its IPO on November 20. The Rs 13-crore fixed price issue was opened on November 16. The issue price is Rs 233 per share.
The public issue has been subscribed nearly 30 times in last two days.
Healthcare and personal care products supplier Sunrest Lifescience will be listing its equity shares on the NSE Emerge on November 20. The issue price is Rs 84 per share.
The Rs 10.85-crore IPO had seen healthy response from investors, subscribing 45.09 times during November 7-9.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.