Buzz in the Primary Market: A Deep Dive into 6 Upcoming IPOs

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.

Tata Technologies IPO

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.

Listing Update

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.

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