Primary Market Action: Seven IPOs worth over Rs 11,000 cr to hit Dalal Street this week

Lenskart Solutions' public issue was subscribed to over 28 times, and Groww's offer was over 17 times last week, while Pine Labs' IPO saw 13 percent subscription till last week.

The primary market mood remains strong in the week starting November 10 as seven new initial public offerings (IPOs) worth more than Rs 11,000 crore are hitting Dalal Street, along with seven new companies that will be available for trading on the bourses.

Online education platform PhysicsWallah, and solar panels and cell maker Emmvee Photovoltaic Power are the first amongst them in the mainboard segment to open their Rs 3,480 crore and 2,900 crore IPOs, respectively, this week on November 11.

PhysicsWallah, which offers test preparation courses for several competitive examinations like JEE, NEET, and UPSC, and upskilling courses, has fixed a price band for its IPO at Rs 103-109 per share, while the price band for Emmvee is Rs 206-217 per share.

Auto parts maker Tenneco Clean Air India, a part of US-headquartered Tenneco Mauritius Holdings, will be the third IPO in the mainboard segment, opening on November 12 with a price band of Rs 378-397 per share. It is a pure offer-for-sale of Rs 3,600 crore worth of shares by the promoter.

Solar inverter and batteries maker Fujiyama Power Systems, and software-as-a-service (SaaS) company Capillary Technologies India are also launching their public issues this week on November 13 and November 14, respectively.

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Fujiyama Power Systems is expected to raise Rs 828 crore at the upper end of the price band of Rs 216-228 per share, while Capillary has not disclosed its price band for the offer yet. Considering the price of lthe ast transaction dated September 30 this year (at Rs 541.44 per share), the Capillary IPO size could be over Rs 800 crore.

In the SME segment, Workmates Core2Cloud Solution and Mahamaya Lifesciences will open their IPOs worth around Rs 70 crore each on November 11. The price band set by Mahamaya Lifesciences for its IPO is Rs 108-114 per share, and that of Workmates is Rs 200-204 per share.

Meanwhile, fintech company Pine Labs' initial share sale will remain open for subscription till November 11, while from the SME segment, Finbud Financial Services will close its IPO on November 10, followed by Shining Tools and Curis Lifesciences on November 11.

A total of seven new companies will be available for trading on the bourses this week, with eyewear maker Lenskart Solutions being the first listing on November 10, followed by stock broking platform Groww's parent Billionbrains Garage Ventures on November 12, and Pine Labs on November 14.

Lenskart Solutions' public issue was subscribed to over 28 times, and Groww's offer was over 17 times last week, while Pine Labs' IPO saw 13 percent subscription till last week.

Shreeji Global FMCG will be the first in the SME segment, listing on November 12, followed by Finbud Financial Services on November 13 on the NSE Emerge.

Curis Lifesciences and Shining Tools will also be available for trading on the NSE Emerge and BSE SME, respectively, on November 14.