Primary market mood remains strong as 12 IPOs to hit Dalal Street next week despite Nifty correction

IPO News

The mood at the primary market desk remained strong despite sharp correction in the frontline and broader indices, as total 12 IPOs will hit Dalal Street next week starting from August 4 along with 14 new listings on the bourses.

These 12 companies are set to raise around Rs 9,200 crore through their maiden public issues which is higher amount than Rs 7,300 crore worth of 14 IPOs launched last week. This includes four mainboard IPOs worth Rs 8,919 crore.

Toll collection services and EPC projects company Highway Infrastructure as well as Knowledge Realty Trust, the largest office real estate investment trust (REIT) will be the first to open from the mainboard segment next week on August 5. Both public issues will close on August 7.

Highway Infrastructure plans to raise Rs 130 crore and Knowledge Realty Trust Rs 4,800 crore via initial public offerings (IPO) with price band of Rs 65-70 per share, and Rs 95-100 per share, respectively.

Sajjan Jindal-led JSW Group-backed JSW Cement will be the next to launch its Rs 3,600-crore initial share sale next week on August 7, which comprises of fresh issue of Rs 1,600 crore worth shares, and an offer-for-sale of shares worth Rs 2,000 crore.

Ace investor Sunil Singhania's Abakkus Asset Manager-backed All Time Plastics, the plastics consumerware maker, will also open its IPO on August 7 which is a combination of fresh issuance of shares worth Rs 280 crore, and an offer-for-sale of 43.85 lakh shares.

Both public issues - JSW Cement and All Time Plastics - will close on August 11. Their price band will be announced on August 4.

The SME segment will also have a busy schedule next week with eight IPOs getting launched. Amongst them, six issues - Bhadora Industries, Parth Electricals & Engineering, Jyoti Global Plast, Aaradhya Disposal Industries, BLT Logistics, and Essex Marine - will be launched in a single session i.e. on August 4. All of them will close on August 6.

Further, the remaining two companies - Sawaliya Foods Products, and ANB Metal Cast will open their maiden public issues on August 7 and 8, and close on August 11 and 12, respectively.

Meanwhile, the IPOs of Cash Ur Drive Marketing, and Renol Polychem will remain open next week till August 4. Further, Flysbs Aviation will close its public issue on August 5.

Listings

Total 14 companies will make their debut on the bourses in the coming week including five in the mainboard segment. Video security and surveillance products maker Aditya Infotech, and MSME lender Laxmi India Finance will list their shares on the BSE and NSE effective August 5. This follows National Securities Depository (NSDL), M&B Engineering, and Sri Lotus Developers which are scheduled for debut on August 6.

Amongst them, Aditya Infotech IPO shares traded at highest premium of over 40 percent in the grey market, the unofficial market for trading in the IPO shares till listing on the bourses.

National Securities Depository (NSDL) IPO shares were available at 15-16 percent premium, M&B Engineering 12 percent, and Sri Lotus Developers & Realty over 24 percent, but Laxmi India Finance IPO shares are not getting any premium in the grey market, the market observers told Moneycontrol.

In the SME segment, the trading in Umiya Mobile, and Repono shares will commence on the BSE SME effective August 4, followed by Kaytex Fabrics shares on the NSE Emerge on August 5.

Further, Takyon Networks, Mehul Colours, and BD Industries (Pune) shares will be available for trading on the BSE SME effective August 6. This follows Renol Polychem, and Cash Ur Drive Marketing which are scheduled for debut on the NSE Emerge on August 7. Flysbs Aviation will be the last listing from the SME segment next week, which will debut on the NSE Emerge on August 8.

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