Four IPOs set to launch next week despite market volatility
What's the story
The primary market is gearing up for four initial public offerings (IPOs) next week, evenly divided between the mainboard and SME segments. This is despite a bearish trend that has led equity markets to fall by around 10% from their record high on September 27. The only company to have postponed its IPO amid these adverse conditions was Rosmerta Digital Services, after revealing all public issue details.
Market debut
NTPC Green Energy to launch ₹10,000 crore IPO
NTPC Green Energy, NTPC's renewable energy subsidiary, will launch its ₹10,000 crore IPO on November 19. The offering will be entirely composed of new shares and will close on November 22. The book-built offer has been priced at ₹102-108 per share. Up to ₹7,500 crore from this fresh issue will be used to repay debt of its subsidiary NTPC Renewable Energy, and the rest for general corporate purposes.
Upcoming offerings
Enviro Infra Engineers and Lamosaic India announce IPOs
Delhi-based Enviro Infra Engineers, which develops sewage treatment plants and sewerage systems, will launch its IPO on November 22. The offering packs a fresh issue of 3.87 crore equity shares and an offer-for-sale of 52.68 lakh shares by promoters. The price band details will be announced on Monday. Meanwhile, Lamosaic India will open its ₹61 crore initial share sale on November 21 at a fixed price of ₹200 per share.
Defense IPO
C2C Advanced Systems to raise over ₹99 crore
C2C Advanced Systems, a provider of defense electronics solutions, will be the second public issue from the SME segment. The company plans to raise over ₹99 crore through its IPO, which will open on November 22 and close on November 26. The price band for this offering has been fixed at ₹214-226 per share.
Closing bell
Zinka Logistics Solutions and Onyx Biotec to close IPOs
Bengaluru-based Zinka Logistics Solutions, which provides the BlackBuck app for truck operators, will close its ₹1,115-crore initial share sale on November 18. The company has already been subscribed 32% in the last two days. Meanwhile, Onyx Biotec's ₹29 crore IPO will also close on November 18. The company caters to pharmaceutical firms by providing sterile water for injections.