In the upcoming week, Dalal Street is gearing up for a substantial influx of Initial Public Offerings (IPOs) as eight companies prepare to raise funds exceeding Rs 4,600 crore. This follows the trend of heightened IPO activities, with nearly Rs 4,000 crore worth of IPOs launched in the previous week ending December 15.
Key Highlights of Upcoming IPOs
- Details Released: 8 mainboard companies embark on IPOs, targeting over Rs 4,400 Cr.
- Optimistic Atmosphere: Dalal Street is abuzz with positive market sentiments and new milestones.
- Diverse Sectors Participate: From microfinance to real estate, a spectrum of sectors in the IPO spotlight.
- Market Predictions: Industry experts foresee a continued surge in IPOs, projecting an active 2024.
- Listings Awaited: Doms Industries, India Shelter Finance, and Inox India are set to debut post-IPO on December 20 and 21.
IPO Market Optimism
With Dalal Street experiencing positive momentum and various sectors achieving new milestones, the primary market is also buzzing with energy. This presents numerous investment opportunities as a total of 8 companies, exclusively from the mainboard segment, will initiate their initial public offerings.
Reasons for Optimism
The optimism is fueled by factors such as robust economic growth, favourable policy expectations post-recent state election results, anticipated monetary policy easing, favourable oil prices, expectations of strong earnings growth, and a healthy influx of domestic capital. The cumulative fundraising from 239 companies this year is projected to reach Rs 57,720 crore by the end of the current calendar year.
IPO’ This Week: A Closer Look
With eight mainboard public issues lined up for this week, followed by three listings, below are the details for each:
Muthoot Microfin IPO
Opening Date: December 18
Microfinance institution Muthoot Microfin will kick off the IPO season on December 18, aiming to raise Rs 960 crore with a price band of Rs 277-291 per share. The IPO subscription will conclude on December 20.
Motisons Jewellers IPO
Opening Date: December 18-20
Jaipur-based jewellery retailer Motisons Jewellers is set to open its Rs 151-crore IPO during December 18-20, with a price band of Rs 52-55 per share.
Suraj Estate Developers IPO
Opening Date: December 18-20
Mumbai-based real estate developer Suraj Estate Developers will launch its Rs 400-crore maiden public issue during the same period, with a price band set at Rs 340-360 per share.
Happy Forgings IPO
Opening Date: December 19-21
Punjab-based heavy forgings and components maker Happy Forgings, will open its Rs 1,009-crore public issue during December 19-21, with a price band of Rs 808-850 per share.
RBZ Jewellers IPO
Opening Date: December 19-21
Antique bridal gold jewellery maker RBZ Jewellers will debut its Rs 100-crore IPO during the same period, with a price band set at Rs 95-100 per share.
Credo Brands Marketing IPO
Opening Date: December 19-21
Mumbai-based Mufti Jeans brand owner, Credo Brands Marketing, aims to raise Rs 549.78 crore via IPO at a price band of Rs 266-280 per share during December 19-21.
Azad Engineering IPO
Opening Date: December 20
Telangana-based Azad Engineering will launch its Rs 740-crore IPO on December 20, with a price band at Rs 499-524 per equity share. The bidding will close on December 22.
Innova Captab IPO
Opening Date: December 21 The last mainboard IPO of the week will be the Rs 570-crore Innova Captab IPO, with the subscription period starting on December 21 and closing on December 26.
Inox India IPO
Closing Date: December 18
Cryogenic storage tank manufacturer Inox India will conclude its Rs 1,459-crore public issue on December 18, after opening for subscription on December 14.
Upcoming IPO Listings
In the mainboard segment, Doms Industries (stationery and art products manufacturing), India Shelter Finance Corporation (affordable housing finance), and Inox India (cryogenic storage tanks) are scheduled to list on the bourses on December 20, while Inox India will debut on December 21, following the T+3 timeline.
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Conclusion
The upcoming surge of IPOs in diverse sectors offers investors a unique chance to diversify portfolios, minimising risk. With Dalal Street’s positive momentum and optimistic market sentiments, there’s potential for capital appreciation. Investing in these IPOs aligns with India’s economic growth initiatives, providing an opportunity to participate in the country’s evolving landscape. Early entry into promising ventures and a positive market outlook for 2024 further enhance the appeal for investors seeking to capitalise on India’s vibrant IPO market. However, careful due diligence is advised to navigate potential risks. With over 65 IPO filings already with SEBI and many approved, 2024 promises to be an active year for the Indian IPO market.
Source- moneycontrol.com
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.