Next week will be a busy one for the primary market, as three companies Delhivery, Prudent Corporate Advisory Services, and Venus Pipes & Tubes will launch their public issues. LIC IPO, the biggest issue in the history of Indian capital markets, will close for subscription on Monday, 9 May. While two companies, Campus Activewear, and Rainbow Children’s Medicare will make their stock market debut on BSE and the National Stock Exchange (NSE), in the coming week.
LIC IPO closes 9 May
The mega LIC IPO has been subscribed 1.06 times so far with policyholders and employees driving the demand. The issue opened for subscription on 4 May, and will close on 9 May. Moreover, in order to enable people to participate in the mega IPO of the state-owned insurer, LIC public offer will remain open for subscription even on Saturday and Sunday. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. So far, the amount mobilised from the IPO of Paytm in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.
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Delhivery IPO opens 11 May
Delhivery has fixed a price band of at Rs 462-487 per share for its Rs 5,235-crore IPO. The IPO will open on 11 May for subscription and close on 13 May. Upon successful listing on BSE, NSE, Delhivery will join the likes of Blue Dart Express, TCI Express, and Mahindra Logistics. The book running lead managers to Delhivery IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company Private Limited, BofA Securities India Limited, and Citigroup Global Markets India Private Limited. The registrar to the issue is Link Intime India Private Limited.
Prudent Corporate Advisory Services IPO opens 10 May
Prudent Corporate Advisory Services has set the price band for its IPO (Initial Public Offering) at Rs 595-630 per equity share of face value Rs 5 each. The issue will open for subscription on 10 May, and will close on May 12. Upon successful listing, Prudent Corporate Advisory will join listed peers such as IIFL Wealth Management, ICICI Securities, CDSL, Computer Age Management Services, HDFC AMC, Nippon Life Indian Asset management, and UTI Asset Management. ICICI Securities, Axis Capital, and Equirius Capital are the book running lead managers to the issue.
Venus Pipes & Tubes IPO opens 11 May
Venus Pipes & Tubes will open for public subscription on 11 May, and will conclude on 13 May. SMC Capitals is the sole book running lead manager to the issue. The equity shares of the company are proposed to be listed on BSE and National Stock Exchange (NSE). The bidding for anchor investors will open on May 10, according to the red herring prospectus (RHP).
Read More: Venus Pipes & Tubes IPO to open on May 11
Campus Activewear IPO share listing on 9 May
Campus Activewear IPO, which got 51.75 times subscription, will list on stock exchanges on 9 May 2022. The issue was sold at a price band of Rs 278 to Rs 292 per equity share. Talking about the strengths of the footwear company, analysts at Axis Capital said that Campus is the largest sports and athleisure footwear brand in India, both in terms of value and volume in Fiscal 2021.
Rainbow Children’s Medicare share debut on 10 May
Rainbow Children’s Medicare IPO is likely to list on stock exchanges on 10 May 2022. The IPO shares were sold at a price range of Rs 516-542 per share. The Rs 1581-crore IPO got 12.43 times subscription during the bidding process. Analysts at ICICI Direct said that it will be key for Rainbow to sustain its growth trajectory amid increased consolidation in healthcare space and margin profile.
