Six IPOs worth over Rs 2,000 crore to hit Dalal Street next week; five to make market debut

IPOs to Watch Next week

• Six IPOs worth over Rs 2,000 crore to hit Dalal Street next week
• Five companies to make market debut
• Amagi Media Labs Rs 1,789-crore IPO to open on January 13

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Total six companies are set to launch their Initial Public Offerings (IPOs) worth more than Rs 2,000 crore on Dalal Street next week starting from January 12, with five firms making market debut in the same period.

Out of the six names, Amagi Media Labs, the Bengaluru-based SaaS company, will be the only IPO from the mainboard segment, while others are from the SME segment.

Marquee investors like Premji Invest, Accel, and Norwest Venture-backed Amagi Media Labs will open its Rs 1,789-crore IPO for public subscription on January 13 and close on January 16 with price band at Rs 343-361 per share. The IPO is a combination of fresh issuance of equity shares worth Rs 816 crore, and an offer-for-sale of 2.69 crore equity shares worth Rs 972.6 crore at the upper price band.

Of the total five SME IPOs worth Rs 238.11-crore, control and relay panels maker Avana Electrosystems, and brass products manufacturer Narmadesh Brass Industries will open their public issues on January 12.

Avana Electrosystems aims to mop up Rs 35.22 crore at the upper end of price band of Rs 56-59 per share, while Narmadesh Brass Industries is expected to raise Rs 44.87 crore at a price of Rs 515 per share.

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Further, junction box and meter boxes manufacturer Indo SMC, and solar EPC company GRE Renew Enertech will be the next amongst them, opening on January 13. The former is raising nearly Rs 92 crore at the upper end of price band of Rs 141-149 per share, and the later one intends to mobilise Rs 39.6 crore at the upper end of price band of Rs 100-105 per share.

This follows security services provider Armour Security India's IPO which will be available for subscription on January 14. It approached capital markets to raise Rs 26.5 crore via public issue of 46.5 lakh shares at the upper end of price band of Rs 55-57 per share.

India's largest coal miner Bharat Coking Coal, the part of Coal India, will close its Rs 1,071.11-crore initial share sale on January 13. The mainboard offer received overwhelming response from investors on its first day of bidding, i.e. January 9, subscribing 8.09 times.

Rubber parts and components maker Defrail Technologies, the part of SME segment, will also close its maiden public issue on January 13. The issue was subscribed 74 percent on January 9, its day 1.

Meanwhile, there will be five companies making their market debut next week with Bharat Coking Coal being only mainboard listing scheduled on January 16, while others four will be from the SME segment with Gabion Technologies India being the first amongst them lined up for listing on the BSE SME on January 13.

Victory Electric Vehicles International, and Yajur Fibres will be the next SMEs, available for trading on the NSE Emerge and BSE SME effective January 14, followed by Defrail Technologies which is likely to debut on the BSE SME effective January 16.

Amongst them, Bharat Coking Coal, and Gabion Technologies IPO shares are traded with more than 40 percent premium in the grey market, while Defrail Technologies IPO shares attracted 8 percent premium, but other two SMEs Victory Electric Vehicles International, and Yajur Fibres are not getting any premium, the market observers said.