These IPOs will be launched in India this week
What's the story
The primary market is gearing up for a major wave of initial public offerings (IPOs) with the upcoming launches of Tata Capital and LG Electronics. The Tata Capital IPO will be open for subscription from October 6 to October 8, while the LG Electronics IPO will follow suit from October 7 to October 9. This week alone, at least five new IPOs are expected to raise over ₹27,000 crore.
IPO specifics
Tata Capital IPO will open from October 6-8
The Tata Capital IPO, a ₹15,512 crore offering, has a price band of ₹310-₹326 per share and a lot size of 46 shares. It comprises 47.58 crore shares in total: a fresh issue of 21 crore shares worth ₹6,846 crore and an offer-for-sale (OFS) of 26.58 crore shares. Tata Sons will sell 23 crore shares through OFS while International Finance Corporation will offload 3.58 crore shares.
Offer details
LG Electronics India
The LG Electronics India IPO will open from October 7 to October 9, with an aim to raise ₹11,607 crore. Unlike Tata Capital's offering, this one is purely an OFS with no fresh issuance. The South Korea-based parent company of LG will sell over 10.18 crore shares at a price band of ₹1,080-₹1,140 per share and a lot size of 13 shares.
Others
Rubicon Research, Anantam Highways Trust
Other upcoming IPOs include Rubicon Research, a pharmaceutical formulations firm, which will open its ₹1,377.50 crore IPO on October 9. The issue consists of ₹500 crore in fresh shares and ₹877.5 crore through OFS by promoter General Atlantic Singapore RR Pte Ltd. Anantam Highways Trust will see an entry with its ₹400 crore issue priced at ₹98-100 per unit from October 7 to October 9.
Small offerings
Mittal Sections
On the SME front, Mittal Sections will open its IPO from October 7 to October 9. The company plans to raise ₹52.91 crore via fresh issuance of 37 lakh shares, at a price band of ₹136-₹143 per share. Mittal Sections manufactures mild steel and structural steel products such as bars, flats, angles, and channels.