3 IPOs opening this week: Should you subscribe?
What's the story
Investors looking at the primary market will have three new public issues to consider this week. Rajputana Stainless, Innovision Limited and Raajmarg Infra Investment Trust are set to open their IPOs between March 9 and March 11. The offerings span different sectors — stainless steel manufacturing, manpower services and road infrastructure — giving investors varied choices depending on their risk appetite and investment interest.
First offering
Rajputana Stainless Industries
The Rajputana Stainless IPO opened for subscription today and will remain open until March 11. The public issue aims to raise ₹254.98 crore. It comprises a fresh issue of 1.47 crore shares worth ₹178.73 crore and an offer for sale of 0.63 crore shares worth ₹76.25 crore at a price band of ₹116-122 per share with a minimum application lot of 110 shares (₹13,420 at upper price band).
Second offering
Innovision Limited
The Innovision IPO will open for subscription on March 10 and close on March 12. The company plans to raise ₹322.84 crore through this issue, which consists of a fresh issue of shares worth ₹255 crore and an offer for sale worth ₹67.84 crore at a price band of ₹521-548 per share with a minimum lot size of 27 shares (₹14,796 at upper price band).
Third offering
Raajmarg Infra Investment Trust
The third issue of the week comes from Raajmarg Infra Investment Trust, which plans to raise ₹6,000 crore. The IPO will open on March 11 and close on March 13. Unlike the other two issues, this offering is entirely a fresh issue of shares at a price band of ₹99-100 per share.