5 IPOs hitting Dalal Street today amid market volatility
What's the story
India's primary markets are all set to get busy with five initial public offerings (IPOs) from the mainboard segment, launching today.
This comes as the broader market is possibly staring at a sell-off. The Nifty 50 index has already seen a three-day losing streak, during which it lost 550 points.
Today also marks the weekly options expiry for Nifty 50 contracts, adding to market volatility.
IPO details
Concord Enviro Systems IPO opens for subscription
Water and wastewater treatment solutions provider Concord Enviro Systems is launching its IPO today.
The public offer will remain open for subscription till December 23 at a price band of ₹665-701 per share.
The company hopes to raise ₹500.3 crore through the IPO, which comprises a fresh issue of equity shares worth ₹175 crore and an offer-for-sale of 46.4 lakh shares worth ₹325.3 crore by existing shareholders.
Market debut
Sanathan Textiles and Mamata Machinery
Mumbai-based Sanathan Textiles is also launching its IPO today with a price band of ₹305-321 per equity share. The public offer comprises a fresh issue of up to ₹400 crore and an offer-for-sale of up to ₹150 crore.
Meanwhile, Gujarat-based Mamata Machinery's IPO will remain open for subscription till December 23. The company has fixed a price band of ₹230-243 per share for its public issue, a pure offer-for-sale of up to 73.82 lakh shares by promoters and existing shareholders.
New entrants
DAM Capital Advisors and Transrail Lighting
Led by investment banker Dharmesh Mehta, DAM Capital Advisors also maked its IPO debut today.
The public issue with a price band of ₹269-283/share, which is set to close on December 23, has been fully subscribed within three hours after opening.
The ₹840-crore IPO is entirely an offer-for-sale of 2.96 crore equity shares.
Meanwhile, engineering and construction company Transrail Lighting's ₹839-crore IPO has also opened today and closes on December 23. The issue has a fixed price band of ₹410-432/share.