India's IPO market braces for busy week
This week, India's IPO scene is heating up with four companies aiming to raise about ₹15,000 crore.
Things kick off Tuesday with Kalpataru Ltd., Ellenbarrie Industrial Gases Ltd., and Globe Civil Projects Ltd.
On Wednesday, HDB Financial Services (an HDFC Bank arm) will open its massive ₹11,500 crore IPO.
Bull run and rate cut boost sentiment
A 12% rally in the NSE Nifty 50 index and a recent RBI rate cut have made investors more eager to jump into new listings.
Ellenbarrie Industrial Gases is targeting ₹8.52 billion and Kalpataru Ltd is going for ₹15.9 billion through their IPOs.
What's common among these 3 companies?
Kalpataru Ltd builds homes and offices in Mumbai, while Ellenbarrie Industrial Gases supplies essential gasses to hospitals and factories.
HDB Financial Services offers loans and financing solutions—its upcoming IPO includes both fresh shares and a big sell-off by parent HDFC Bank.