The Indian IPO frenzy continues as 18 companies gear up to raise over Rs 4,000 crore through public issues this week. While a dozen of these IPOs belong to the SME segment, our blog focuses on this week’s five prominent IPO listings in the mainboard segment.
Highlights of the Upcoming IPO Schedule
- Indian IPO frenzy continues with 18 companies targeting over Rs 4,000 crore in public issues this week.
- Focus on the mainboard segment featuring JSW Infrastructure, Updater Services, Valiant Laboratories, Plaza Wires, and Vaibhav Jewellers.
- JSW Infrastructure’s debut IPO since 2010, aims to raise Rs 2,800 crore for growth and debt reduction.
- Updater Services seeks Rs 640 crore in its IPO with strong anchor investor support.
- Valiant Laboratories eyes Rs 152.46 crore in its pharmaceutical IPO.
- Delhi’s Plaza Wires enters the IPO arena with a Rs 71.28 crore target.
- Vaibhav Jewellers’ maiden IPO garners a 13 percent subscription rate, closing soon.
JSW Infrastructure IPO
Opening on September 25, 2023
JSW Infrastructure, a port-related infrastructure company, is set to make its mark with its first IPO since 2010. The public issue aims to raise a substantial Rs 2,800 crore at a price band of Rs 113-119 per share, with the offer closing on September 27.
The primary objectives of this fresh issue are noteworthy. A significant portion of the proceeds, amounting to Rs 880 crore, will be directed towards repaying debts. Additionally, Rs 1,029.04 crore will fuel expansion and upgrades at Jaigarh Port, owned by JSW Jaigarh Port, a subsidiary of JSW Infrastructure.
With total borrowings of Rs 4,228.39 crore as of June 2023, this IPO presents an opportunity for investors to participate in JSW Infrastructure’s growth journey, debt reduction, and strategic expansion plans, including the development of the Mangalore Container Terminal via fresh issue proceeds.
Updater Services IPO
Also Opening on September 25, 2023
Updater Services, a facility management services firm, joins the IPO wave with an offering worth Rs 640 crore, featuring a price band of Rs 280-300 per share. The company has already garnered Rs 288 crore from anchor investors on September 22.
Valiant Laboratories IPO
Opening on September 27, 2023
Pharmaceutical company Valiant Laboratories steps into the limelight with its IPO scheduled for September 27. Offering shares in the price range of Rs 133-140 per share, Valiant Labs aims to raise Rs 152.46 crore at the upper end, with the closing date set for October 3.
Plaza Wires IPO
Bidding Starts on September 29, 2023
Delhi-based Plaza Wires enters the IPO arena with a bidding period commencing on September 29 and concluding on October 4. Priced between Rs 51-54 per share, Plaza Wires targets a fundraising goal of Rs 71.28 crore.
Manoj Vaibhav Gems N Jewellers (Vaibhav Jewellers) IPO
Closes on September 26, 2023
Vaibhav Jewellers, known for its brand name Manoj Vaibhav Gems N Jewellers, is nearing the end of its maiden public issue, which closes on September 26, 2023. With a price band of Rs 204-215 per share, the offering has already garnered a 13 percent subscription rate.
Opportunities for Indian Investors
The ongoing IPO frenzy in India, with a focus on prominent mainboard offerings, presents an exciting avenue for Indian investors. With companies like JSW Infrastructure, Updater Services, Valiant Laboratories, Plaza Wires, and Vaibhav Jewellers making their IPO debuts, investors have the chance to partake in their growth stories. These IPOs not only offer the prospect of healthy returns but also allow investors to contribute to debt reduction, strategic expansion, and development projects, further strengthening the nation’s economic landscape. It’s a golden opportunity to diversify portfolios and participate in India’s thriving entrepreneurial spirit.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.