The week starting from October 6 is set to be the biggest ever for the primary market in terms of fund raising size as seven IPOs worth much more than Rs 30,000 crore will hit Dalal Street. Though it is smaller in terms of number of IPOs seen in previous two weeks.
The last record week for the Indian primary market was led by passenger vehicle maker Hyundai Motor India alone, which had raised Rs 27,859 crore in October 2024.
Non-banking finance company Tata Capital will be the first to launch its Rs 15,512-crore IPO on October 6 with price band of Rs 310-326 per share. This would be the largest initial share sale by the NBFC in India and the biggest since Hyundai IPO.
Tata Capital aims to raise Rs 6,846 crore via fresh issue, while Tata Sons and International Finance Corporation will be selling shares worth Rs 8,666 crore through offer-for-sale (OFS). Of which, Rs 4,642 crore has already been raised by the company through anchor book on October 3.
This follows home appliances and consumer electronics manufacturer LG Electronics India's Rs 11,607-crore initial public offering (IPO) which is set to open for subscription during October 7-9 with price band of Rs 1,080-1,140 per share. It is a complete offer-for-sale by the Korean parent LG Electronics Inc.
Pharmaceutical firm Rubicon Research will be the next IPO, getting launched on October 9. It is raising Rs 1,377.50 crore via IPO at the upper end of price band of Rs 461-485 per share. This consists of fresh issuance of shares worth Rs 500 crore, and an offer-for-sale of Rs 877.50 crore worth shares by promoter General Atlantic Singapore RR Pte.
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The next two remaining IPOs in the mainboard segment will be from public sector lender Canara Bank. Canara Robeco Asset Management Company will open its 4.98-crore shares public issue on October 9, followed by Canara HSBC Life Insurance Company's 23.75-crore shares initial share sale on October 10.
Both have not disclosed their exact fund raising size but media reports indicated that their size could be in the Rs 3,000-5,000 crore range, which has not verified by the Moneycontrol.
In addition to equity IPOs in the mainboard segment, there will be an InvIT IPO by Anantam Highways Trust. It is raising Rs 400 crore with a price band of Rs 98-100 per unit.
The last and only SME IPO scheduled for opening next week will be by structural steel products maker Mittal Sections which is raising Rs 52.91 crore at the upper price band during October 7-9. The price band for the offer has been fixed at Rs 136-143 per share.
Meanwhile, workspace solutions provider WeWork India Management will close its Rs 3,000-crore maiden public issue on October 7, which so far subscribed 4 percent, while three IPOs from the SME segment - Shlokka Dyes, Greenleaf Envirotech, and DSM Fresh Foods - are scheduled for close on October 6, followed by NSB BPO Solutions on October 7.
Listings
Total 28 new companies will be available for trading on the bourses next week including six from the mainboard section. Pace Digitek will list on the BSE and NSE on October 6, followed by Glottis, and Fabtech Technologies on October 7.
The trading in Om Freight Forwarders, and Advance Agrolife shares will commence on October 8, while WeWork India Management will make its market debut on October 10.
The SME segment will have remaining 22 listings next week with Bhavik Enterprises, Manas Polymers & Energies, Ameenji Rubber, M P K Steels, Rukmani Devi Garg Agro Impex, and KVS Castings being the first to debut.
This follows Dhillon Freight Carrier, Suba Hotels, Om Metallogic, Vijaypd Ceutical, and Sodhani Capital which are scheduled for listing on October 7, while the trading in Chiraharit, Sunsky Logistics, Munish Forge, Infinity Infoway, Sheel Biotech, Zelio E-Mobility, B.A.G.Convergence, and Valplast Technologies will commence on the stock exchanges effective October 8.
Greenleaf Envirotech, Shlokka Dyes, and DSM Fresh Foods, which as per the current tentative schedule, will make their market debut on October 9.
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