As Dalal Street faces turbulent times, with the Sensex and the Nifty experiencing a 2.5 percent drop in the past week and down 6 percent from their record highs, the primary market remains active. This week, a total of seven Initial Public Offerings (IPOs) are set to debut, bringing in approximately Rs 3,734 crore. Among the IPOs this week, two noteworthy companies, Cello World and Mamaearth, have captured the market’s attention. Let’s explore the details of these upcoming IPOs.
Key Highlights
- Seven Initial Public Offerings (IPOs) to debut, aiming to bring in Rs 3,734 crore.
- Cello World’s IPO opens on October 30, offering shares from the Rathod family with a price band of Rs 617 to Rs 648 per share.
- Mamaearth’s IPO opens on October 31, generating buzz with a fresh issue and an offer-for-sale (OFS) valued at Rs 1,701 crore.
- ESAF Small Finance Bank’s IPO will launch on November 3, with a target of raising Rs 463 crore.
Cello World IPO
Cello World, a prominent consumer product company, will kick off the IPO season in the mainboard segment on October 30. The IPO, valued at Rs 1,900 crore, primarily consists of an offer for the sale of shares by the promoters, the Rathod family. The subscription period will last until November 1, with a price band ranging from Rs 617 to Rs 648 per share.
This Mumbai-based company made an impressive start by securing Rs 567 crore from anchor investors on October 27. Major names in the financial world, such as Nomura, Goldman Sachs, Florida Retirement System, and more, enthusiastically participated in the anchor book.
Mamaearth IPO
Another much-anticipated IPO is that of Mamaearth’s parent company, Honasa Consumer, which opens for bidding on October 31. Valued at Rs 1,701 crore, this IPO is creating a buzz among investors. The offering consists of a fresh issue of shares worth Rs 365 crore and an offer-for-sale (OFS) of 4,12,48,162 equity shares, valued at Rs 1,336 crore, by various promoters and investors.
The list of selling shareholders includes notable names like Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, and others. This Gurugram-based direct-to-consumer (DTC) company has garnered significant attention in the run-up to its IPO.
ESAF Small Finance Bank IPO
In addition to Cello World and Mamaearth, the ESAF Small Finance Bank is another IPO to watch. Set to open for subscription on November 3, this bank aims to raise Rs 463 crore. The IPO includes a fresh issuance of shares worth Rs 390.7 crore by the company and an offer-for-sale (OFS) of Rs 72.3 crore shares by three shareholders.
Prominent among the selling shareholders are ESAF Financial Holdings, PNB MetLife India Insurance Company, and Bajaj Allianz Life Insurance Company. The anchor book opens on November 2, and the public issue concludes on November 7. The price band for this offering will be disclosed soon.
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While other IPOs are also making their way to the market, Cello World, Mamaearth, and ESAF Small Finance Bank have garnered significant attention due to their promising prospects. Investors will be keeping a close eye on these offerings as they navigate the volatile market conditions.
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.