Buzz in the Primary Market: A Deep Dive into Upcoming IPOs
The primary market is gearing up for an action-packed week commencing November 20, featuring six companies set to raise approximately Rs 7,400 crore. The lineup includes notable entrants like Tata Technologies, marking the first Tata Group firm to go public in nearly two decades, and the Indian Renewable Energy Development Agency (IREDA), the first government offering since LIC in May 2022.
Indian Renewable Energy Development Agency IPO
Dates and Details: IREDA, a Mini Ratna government enterprise, kicks off the IPO frenzy, opening for subscription on November 21 and concluding on November 23. Priced between Rs 30–32 per share, the institution aims to raise Rs 2,150.21 crore by offering 67.19 crore equity shares.
Offering Structure: The IPO comprises a fresh issue of 40.31 crore equity shares worth Rs 1,290.13 crore by IREDA, alongside an offer-for-sale (OFS) of 26.87 crore shares valued at Rs 860.08 crore by the government.
Dates and Details: Pune-based Tata Technologies, one of the most anticipated IPOs, will open its maiden issue on November 22, with a price band of Rs 475–500 per share. This marks the first IPO from the Tata Group since TCS went public in 2004, with the offer closing on November 24.
Offering Structure: Tata Technologies aims to mobilize Rs 3,042.51 crore through an Offer for Sale (OFS)-only issue. Promoter Tata Motors, alongside investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I, are the selling shareholders.
Gandhar Oil Refinery India IPO
Dates and Details: The Mumbai-based white oils manufacturer, Gandhar Oil Refinery, will launch its IPO from November 22 to 24, priced at Rs 160–169 per share.
Offering Structure: The company aims to raise Rs 500.69 crore through a combination of fresh issuance (Rs 302 crore) and an OFS of 1.17 crore equity shares (Rs 198.69 crore), with selling shareholders including promoters Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh.
Fedbank Financial Services IPO
Dates and Details: Fedbank Financial Services joins the IPO fray with bidding starting on November 22 and closing on November 24. The non-banking finance company looks to raise Rs 1,092.26 crore at a price band of Rs 133–140 per share.
Offering Structure: The IPO consists of 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.
Flair Writing Industries IPO
Dates and Details: Mumbai-based stationery products manufacturer, Flair Writing Industries, opens its IPO from November 22 to 24, with a price band of Rs 288–304 per share.
Offering Structure: The maiden issue aims to raise Rs 593 crore, comprising fresh shares worth Rs 292 crore and an OFS of Rs 301 crore by the Rathod family.
Rocking Deals Circular Economy IPO
Dates and Details: In the SME segment, B2B re-commerce player Rocking Deals Circular Economy will launch its public issue on November 22 at a price band of Rs 136–140 per share, closing on November 24.
Offering Structure: The IPO aims to raise Rs 21 crore through a fresh issue, focusing on bulk trading of excess inventory, open-boxed inventory, re-commerce products, and refurbished products.
IPO Closing Next Week
Dryers manufacturer Arrowhead Separation Engineering will conclude its IPO on November 20, with the issue subscribed nearly 30 times in the last two days. The fixed price issue is set at Rs 233 per share.
Healthcare and personal care products supplier Sunrest Lifescience is scheduled to list its equity shares on the NSE Emerge on November 20, following a robust response from investors during November 7–9, with a subscription rate of 45.09 times.
The upcoming IPO bonanza showcases a diverse range of companies spanning various sectors, promising an exciting week in the primary market. Investors are keeping a keen eye on these offerings, poised to make significant waves in the financial landscape.