As we approach the final week of Samvat 2079, the primary market is abuzz with excitement as four initial public offerings (IPOs) worth a total of Rs 1,390 crore are set to open for subscription. Additionally, nine companies are making their debut on the stock exchanges, marking a significant week for the Indian financial markets.
Upcoming IPOs This Week: Key Highlights
- Four new IPOs worth Rs 1,390 crore are set to open this week in the Indian market.
- Protean eGov Technologies leads the debut in the mainboard segment, with an IPO price range of Rs 752-792 per share.
- ASK Automotive, specialising in advanced two-wheeler braking systems, follows with a bidding window from November 7 to 9.
- ESAF Small Finance Bank’s IPO, with a price band of Rs 57-60 per share, closes on November 7.
- Cello World, Honasa Consumer (Mamaearth’s parent firm), and ESAF Small Finance Bank among the nine companies debuting this week.
- Grey market premiums suggest strong investor interest in Cello World and ESAF Small Finance Bank’s upcoming listings.
Protean eGov Technologies IPO
Opening Date: November 6, 2023
Closing Date: November 8, 2023
The spotlight shines on Protean eGov Technologies as it leads the charge as the first IPO in the mainboard segment. This IPO is generating quite a buzz among investors. With a price band of Rs 752-792 per share, it aims to raise Rs 490.33 crore. However, it’s important to note that this offering is purely an offer-for-sale (OFS) by several investors, including 360 One Special Opportunities Fund, HDFC Bank, Axis Bank, Deutsche Bank AG, Union Bank of India, and NSE Investments.
The IPO subscription period extends until November 8, so prospective investors have a limited time window to take part in this unique opportunity.
Cello World IPO: Making a Grand Entry
Listing Date: November 6, 2023
Cello World, a renowned consumer products company, is all set to make its market debut on November 6. This IPO generated a lot of attention during the subscription period, as it was oversubscribed 39 times between October 30 and November 1. The final issue price has been set at Rs 648 per share. Analysts anticipate that Cello World’s shares may list at a premium of 22-25 percent on bourses, signifying strong investor interest.
ASK Automotive IPO
- Opening Date: November 7, 2023
- Closing Date: November 9, 2023
ASK Automotive, a company specialising in advanced braking systems for two-wheelers, is all set to hit the mainboard segment with its IPO. With a price band of Rs 268-282, this IPO offers a chance to invest in an innovative company making waves in the automotive industry. Similar to Protean eGov Technologies, the ASK Automotive IPO is an offer-for-sale (OFS) by the promoters Kuldip Singh Rathee and Vijay Rathee, with the entire proceeds benefiting the promoters.
Honasa Consumer: A Highly Anticipated Debut
Listing Date: November 7
Honasa Consumer, the parent firm of personal care products brand Mamaearth, is scheduled to debut on November 7. This IPO, which raised Rs 1,701 crore, was subscribed 7.61 times. The market is buzzing with anticipation, and analysts predict a successful entry into the stock market.
ESAF Small Finance Bank IPO
Closing on November 7
ESAF Small Finance Bank is closing its Rs 463-crore public issue on November 7. This IPO, with a price band of Rs 57-60 per share, received a substantial response when it opened for subscription, being oversubscribed 1.74 times on November 3. As the smallest of the nine companies debuting this week, ESAF Small Finance Bank aims to carve a niche in the financial sector.
A Glimpse into the Grey Market
Investor excitement extends to the grey market, where unofficial trading of IPO shares occurs before they officially list on the stock exchange. In the grey market, Cello World’s shares are commanding a premium of 24 percent, suggesting a strong opening on November 6. Honasa is expected to list at around a 5 percent premium, while ESAF has an impressive 33 percent premium over the upper price band.
Investors are keeping a close eye on the grey market premium (GMP) to gauge the likely listing price, and all signs point to an exciting week ahead for IPO enthusiasts.
This week, the primary market is filled with potential opportunities as these companies make their mainboard IPO debuts. Investors are eagerly watching the opening prices and subscription details, eager to seize promising investment opportunities in these newly listed stocks.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.