4 new IPOs hitting market this week: Check list
What's the story
The primary market is bracing for the launch of four new initial public offerings (IPOs) next week, following a busy week of closing IPOs for Emcure Pharma and Bansal Wire Industries. The upcoming IPOs include three in the small and medium enterprise (SME) segment, and one in the mainboard category. Both domestic institutional investors and retail oes are actively participating in these offerings, according to Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
IPO details
Details of upcoming IPOs
Among the companies is Sanstar Limited, set to hit the street next week with an aim to raise over 500 crore. Sanstar Limited's IPO will open for subscription on July 19 and close on July 23, with the issue worth ₹510.15 crore. This includes a fresh issue of 4.18 crore stocks totaling ₹397.10 crore, and an offer for sale of 1.19 crore stocks totaling ₹113.05 crore. The price band for this IPO is set between ₹90 and ₹95 per share.
Additional IPOs
More IPOs to open for subscription next week
Tunwal E-Motors' IPO will be open for subscription from July 15 to July 18, with a fixed price issue amounting to ₹115.64 crore. Macobs Technologies' IPO will be open for subscription from July 16 to July 19, with the book-built issue amounting to ₹19.46 crore. Kataria Industries' IPO will also be open for subscription from July 16 to July 19, with the book-built issue worth ₹54.58 crore.
Market developments
SAR Televenture's FPO and Sahaj Solar Limited's IPO update
SAR Televenture's follow-on public offer (FPO) will be open for subscription from July 22 to July 24, with a book-built issue of up to ₹150 crore. In addition to these new offerings, the allotment for the Sahaj Solar Limited IPO is tipped to be finalized on Tuesday (July 16), with a tentative listing date fixed as July 19.
Information
Companies planning to raise ₹68,000 crore through IPOs
"In the first half of this financial year, we witnessed a surge in initial public offerings (IPOs) in the Indian capital market," Lunawat notes. He reveals that over the next few months, 55 firms are preparing to raise a staggering ₹68,000 crore through IPOs.