India’s IPO market is set for a busy week, with a total of 9 companies, including 3 mainboard listings and 6 SMEs, vying for investor attention. The week’s offerings are expected to raise over ₹4,000 crore, with strong interest evident in the grey market.
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The upcoming week promises a flurry of activities in India’s primary market, with three significant mainboard initial public offerings (IPOs) capturing investor attention. Premier Energies, a solar technology firm, leads the charge with its ₹2,830.40 crore offering, combining fresh equity and an offer-for-sale.
Following closely is ECOS India Mobility & Hospitality, aiming to raise ₹601.2 crore through a pure offer-for-sale. Baazar Style Retail, backed by notable investor Rekha Rakesh Jhunjhunwala, rounds out the trio with its eagerly anticipated IPO, though pricing details remain under wraps.
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SME segment sees diverse offerings
The small and medium enterprise (SME) segment is not to be outdone, with six companies throwing their hats into the ring. Indian Phosphate kicks off the week by seeking to raise funds for its chemical manufacturing business. Jay Bee Laminations and Vdeal System follow, representing the electrical and automation sectors respectively. Tech-focused Paramatrix Technologies, materials specialist Aeron Composite, and construction supplier Archit Nuwood Industries complete the SME lineup, showcasing the breadth of industries tapping into public markets.
New listings to watch
Investors will also have their eyes on eight new listings across various exchanges. Interarch Building Products and Orient Technologies are set to make their debut on the main bourses, while the NSE Emerge platform welcomes Forcas Studio, Brace Port Logistics, Ideal Technoplast Industries, and QVC Exports. The BSE SME platform will see Resourceful Automobile and Rapid Multimodal Logistics commence trading, adding to the week’s excitement.
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The flurry of IPO activity comes amid positive sentiment in the secondary market. Notably, grey market observers report significant premiums for some upcoming listings, with Interarch Building Products and Orient Technologies shares commanding 35-40% premiums over their issue prices. This suggests strong investor appetite for new offerings.
Collectively, the week’s IPOs are expected to raise over ₹4,000 crore, excluding Baazar Style Retail’s offer-for-sale portion. This substantial figure underscores the current robust appetite for new equity offerings in the Indian market. Companies are seizing the opportunity to raise capital and provide exits for early investors, while retail and institutional investors alike appear eager to participate in these new investment opportunities.
