The upcoming week is poised to witness a flurry of activity in the primary market as five companies gear up to raise approximately Rs 7,400 crore from the public. Among these, Tata Technologies stands out as the first Tata Group firm to go public in nearly two decades, while the Indian Renewable Energy Development Agency (IREDA) marks the government’s first offering since LIC in May 2022.
Key Highlights of IPOs Opening this Week
- Five companies to raise a whopping Rs 7,400 crore in IPOs this week.
- Tata Technologies goes public, marking Tata Group’s first IPO in 20 years.
- Indian Renewable Energy Development Agency (IREDA) offers the first government IPO since May 2022.
- IREDA’s IPO involves a fresh issue and an offer-for-sale (OFS) to raise Rs 2,150.21 crore.
- Tata Technologies’ long-awaited IPO opens on November 22, aiming to mobilize Rs 3,042.51 crore.
- Gandhar Oil Refinery’s IPO (Nov 22-24) targets Rs 500.69 crore, focusing on consumer and healthcare industries.
- Fedbank Financial Services and Flair Writing Industries are also set to hit the market with their IPOs.
Indian Renewable Energy Development Agency IPO
Opening New Avenues for Clean Energy– IREDA, a Mini Ratna government enterprise, takes the lead among the five mainboard IPOs, initiating subscriptions on November 21 and concluding on November 23. Priced at Rs 30-32 per share, the institution aims to raise Rs 2,150.21 crore. The offering comprises a fresh issue and an offer-for-sale (OFS), with an anchor book opening on November 20, a day before the public issue begins.
Tata Technologies IPO
A Long-Awaited Debut– Pune-based Tata Technologies, a global engineering services company, is set to make its maiden issue debut on November 22. With a price band of Rs 475-500 per share, the IPO marks the first from the Tata Group since TCS in 2004. Closing on November 24, the company aims to mobilise Rs 3,042.51 crore through an offer-for-sale (OFS) only issue involving selling shareholders such as Tata Motors and Alpha TC Holdings Pte Ltd.
Gandhar Oil Refinery India IPO
Fueling Growth in Consumer and Healthcare Industries– Gandhar Oil Refinery, a Mumbai-based white oils manufacturer, is set to float its IPO from November 22-24 at a price band of Rs 160-169 per share. Focused on consumer and healthcare end industries, the company aims to raise Rs 500.69 crore through a fresh issuance and an offer-for-sale (OFS), with various stakeholders exiting the company through the OFS.
Fedbank Financial Services IPO
Empowering Finance– Commencing on November 22 and concluding on November 24, the Fedbank Financial Services IPO is expected to raise Rs 1,092.26 crore. The non-banking finance company plans to achieve this through a combination of fresh issuances and an offer-for-sale (OFS). The OFS involves selling shares by stakeholders such as The Federal Bank and True North Fund VI LLP, the private equity fund.
Flair Writing Industries IPO
Inking Success in Stationery– Flair Writing Industries, a Mumbai-based stationery products manufacturing company, will open its IPO for bids from November 22 to 24. Priced at Rs 288-304 per share, the company aims to raise Rs 593 crore through a combination of fresh issuances and an offer-for-sale (OFS) by the Rathod family.
As the curtains rise on a week packed with IPO enthusiasm, investors stand at the threshold of potential gains. From Tata Technologies’ much-anticipated debut to IREDA’s groundbreaking government offering, each opportunity is a strategic move for financial growth. If you are excited to invest in these upcoming IPOs, you must choose a zero brokerage trading platform that will help you save a little more as you plan to invest and earn in the stock market.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.