The primary market will have busy schedule in the truncated week starting from November 28, as seven companies will be listing on the bourses that includes five from the mainboard segment while five IPOs will be opening for subscription.
After the successful closing of all much-awaited IPOs by Tata Technologies, Indian Renewable Energy Development Agency (IREDA), Gandhar Oil Refinery India, Fedbank Financial Services, and Flair Writing Industries last week, all of them are likely to make debut on the BSE and NSE next week, in the T+3 timeline.
In August this year, the Sebi has asked companies launching IPOs from September to go for voluntary listing in T+3 timeline (three working days after issue closes) instead of current T+6 timeline, while the same will be mandatory for all companies opening IPOs with effect from December 1, 2023.
Also read: IREDA IPO | Here is how to check the share allotment status, know listing date, grey market premium
IREDA is likely to be the first company listing on the bourses on November 29 and the final issue price has been fixed at Rs 32 per share. The company has already finalised the basis of allotment of IPO shares on November 24 and now investors can check their share allotment status either on the BSE website or IPO registrar portal.
Its equity shares are expected to be credited to the demat accounts by November 28, a day before the listing.
The offer was subscribed 38.8 times during November 21-23 with qualified institutional buyers buying 104.57 times the allotted quota, high networth individuals (HNIs) 24.16 times, retail investors 7.73 times, and employees 9.8 times their reserved portion.
Also read: Tata Technologies IPO: Check share allotment and listing dates, grey market premium
Other four companies namely Tata Technologies, Gandhar Oil Refinery India, Fedbank Financial Services, and Flair Writing Industries are likely to list their shares on the BSE and NSE on November 30, after closing public issues on November 24. The opening date for these offers was November 22.
All of them are expected to finalise the basis of allotment of IPO shares by November 28, and equity shares will be transferred to demat accounts of successful investors by November 29.
The Tata Technologies IPO, the first from the Tata Group in last more than 19 years, saw overwhelming response from investors. The offer was booked 69.4 times, with qualified institutional buyers and high net-worth individuals subscribing 203.41 times and 62.11 times their allotted quotas. Of the portion set aside for retail investors, employees of Tata Technologies and shareholders of promoter Tata Motors was subscribed 16.50 times, 3.7 times and 29.2 times, respectively.
The Pune-based global engineering services company raised Rs 3,042.51 crore via its maiden public issue at issue price of Rs 500 per share.
The IPO by white oils manufacturing company Gandhar Oil Refinery India was subscribed 64.07 times, while writing instruments maker Flair Writing Industries' IPO was booked 46.68 times, but amongst these five IPOs, non-banking finance company Fedbank Financial Services failed to get such kind response from investors as the offer was subscribed just 2.2 times.
These are tentative dates and may change.
In the grey market, an unofficial platform for trading in the IPO shares till the listing, Tata Technologies attracted the maximum premium, at 80 percent over the issue price of Rs 500 per share, amongst five companies, while IREDA IPO shares traded with around 30 percent premium, Flair Writing over 25 percent premium and Gandhar Oil Refinery quoted with more than 40 percent premium, but Fedbank saw muted action, analysts on anonymity said.
SME Segment
Meanwhile, the rest of action will be taking place in the SME segment (small and medium enterprise), as total five IPOs will be opening for subscription during the coming week.
Colorants manufacturing company Deepak Chemtex' Rs 23-crore initial public offering will be opened during November 29 and December 1, with a price band at Rs 76-80 per share, while forged components maker AMIC Forging will also be opening its public issue during the same period, with a price band of Rs 121-126 per share and intends to raise Rs 34.8 crore.
The Rs 10.25-crore offer by Chennai-based Net Avenue Technologies, the online digital direct-to-consumer business for Indian ethnic wear and accessories, will be opened on November 30, with a price band at Rs 16-18 per share. The closing date will be December 4.
Further, the bidding for Rs 53.4-crore Graphisads IPO will also start from November 30 and will close on December 5. It is a fixed price issue with a price at Rs 111 per share. It is marketing, advertising, and communications agency.
Marinetrans India will be the last maiden public issue in the SME segment next week, opening on November 30 and closing on December 5. The company that provides transport management and freight-related services aims to mobilise Rs 10.92 crore via public issue at a price of Rs 26 per share.
Swashthik Plascon, the PET bottles and PET preforms manufacturer, will be closing its Rs 40.76-crore offer on November 29, with a price band at Rs 80-86 per share. The issue was subscribed 44 percent on debut, i.e. November 24.
Apart from this, Arrowhead Seperation Engineering will be listing its shares on the BSE SME on November 28 after its IPO getting more than 90 times subscription during November 16-20, while Rocking Deals Circular Economy will debut on the NSE Emerge on November 30.
The Rs 21-crore public issue by Rocking was subscribed over 210 times during November 22-24 and the offer price has been finalised at Rs 140 per share.
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