Primary Market Action: Two IPOs set to hit Dalal Street with 6 listings scheduled for next week

IPO News

Relentless action continues in the primary market despite bearish sentiment and volatility in the secondary market, as investors will get two new initial public offerings for subscription with one each from the mainboard and SME segment next week starting from January 27.

Dr Agarwal's Health Care IPO

The much-awaited IPO of Dr Agarwal's Health Care, the parent company of listed Dr Agarwals Eye Hospital, will hit Dalal Street on January 29 with a price band of Rs 382-402 per share. The initial share sale from the mainboard segment is a combination of fresh issuance of equity shares worth Rs 300 crore, and an offer-for-sale of 6.78 crore shares worth Rs 2,727.26 crore by promoters and investors (including Temasek Holdings, and TPG). The offer will close on January 31.

Malpani Pipes and Fittings IPO

The second IPO opening next week will be from the SME segment, which is plastic pipes maker Malpani Pipes and Fittings. The Rs 26-crore public issue will also open on January 29 and close on January 30, with a price band of Rs 85-90 per share.

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IPOs Closing Next Week

CLN Energy will close its Rs 72-crore IPO on January 27, while the last day for bidding GB Logistics Commerce, and HM Electro Mech public issues will be January 28.

The CLN Energy IPO saw 2.68 times subscription in the last two days, while GB Logistics Commerce, and HM Electro Mech IPOs full booked at 5.44 times and 7.32 times on their first day of bidding, i.e. January 24, respectively.

Listings Next Week

Total six companies will make their debut on the bourses in the coming week including one from the mainboard segment which is Denta Water and Infra Solutions scheduled for listing on January 29.

Denta Water IPO shares were available at around 40 percent premium over the upper price band (Rs 294 per share) in the grey market, an official platform for trading in the IPO shares till the listing, the market observers said.

The other five companies, listing next week, are from the SME segment. Capital Numbers Infotech will debut on the BSE SME on January 27 while the trading in Rexpro Enterprises shares will commence on the NSE Emerge, effective January 29.

Further, investors can start trading in CLN Energy shares on the BSE SME on January 30, and GB Logistics Commerce, and HM Electro Mech on January 31.

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