These 5 IPOs will hit India's stock market next week
What's the story
The Indian primary market is gearing up for a busy week, with five mainboard initial public offerings (IPOs) scheduled to raise a total of ₹2,581 crore between October 26 and 30. The upcoming issues will be led by EAAA India Alternatives, while investors will also keep an eye on the stock market debut of Jio Platforms and Paras Healthcare.
Market entries
Here's a look at the upcoming IPOs
The five companies making their way to Dalal Street are EAAA India Alternatives, SFC Environmental Technologies, BLS Polymers, MK Sons Fine Jewels, and Bombay Coated and Special Steels.
Out of the total ₹2,581 crore fundraising, fresh equity issuance accounts for ₹808 crore while the remaining ₹1,773 crore will come through offers for sale (OFS) by existing shareholders.
IPO success
Jio Platforms
Jio Platforms's ₹30,213 crore IPO closed on October 23 with an overall subscription of 22.19 times.
Qualified institutional buyers subscribed 70.55 times their allotted shares, while retail investors bid for 2.72 times their reserved portion.
As of October 25, Jio shares were commanding an unofficial gray market premium (GMP) of around ₹247 over the upper issue price of ₹1,119.
Healthcare listing
Paras Healthcare
Paras Healthcare, which raised ₹1,450 crore through its IPO, is also set to list on October 28.
Its public offering was subscribed 2.23 times, with a gray market premium of around ₹10-12 over its issue price of ₹693.
This indicates a possible listing price of ₹703-705 or gains of 1-2%.
Investment focus
EAAA India Alternatives
EAAA India Alternatives will launch the largest IPO of the week, seeking to raise ₹1,200 crore.
The issue opens on October 26 and closes on October 28 with a price band of ₹1,585-1,665 per share.
The offering consists entirely of an OFS by promoter Edelweiss Securities and Investments.
EAAA operates an alternative investment management platform focused on real assets and private credit.
Wastewater solutions
SFC Environmental Technologies
SFC Environmental Technologies will open its ₹667.53 crore IPO on October 27.
The issue will close on October 29 with shares priced between ₹313 and ₹330 apiece.
The IPO comprises a fresh issue of ₹150 crore and an OFS worth ₹517.53 crore.
The company plans to use part of the fresh proceeds to repay borrowings and meet working capital requirements.
Polymer production
BLS Polymers
BLS Polymers will raise ₹255 crore through an entirely fresh issue opening on October 27 and closing on October 29.
The company has fixed a price band of ₹142-150 per share with a minimum application size of 100 shares costing ₹15,000 at the upper end.
BLS Polymers manufactures specialized polymer compounds used in power cables, telecommunications networks, railways, and underground pipelines.
Jewelry retail
MK Sons Fine Jewels
Jewelry retailer MK Sons Fine Jewels will open its ₹275 crore public issue on October 28.
The IPO will close on October 30 with a price band of ₹153-162 per share.
The Mumbai-based firm operates jewelry showrooms in Mumbai and Ahmedabad, offering gold, diamond, and other jewelry products to customers.