As the market has adjusted after the Union Budget announced last week, this week, investors can keep their eyes on upcoming ipos. This week is going to be super busy for the primary market investors as a few of the biggest companies in the country are going to come up with their IPOs. Let’s look at each of these ipos this week to get a fair understanding of the businesses, and other details pertaining to the initial public offerings.
- OLA Electric IPO: On 2 August 2024, Ola Electric IPO, backed by SoftBank will be open for subscription for general investors, and from 1 August, it will be open for anchored investors. The IPO will help the company be valued between $4.2 billion and $4.4 billion. Though the value seems to be on the higher side it is still lower by around 18.5 to 22% if compared to the September 2023’s funding. The major chunk of shares to be sold in this IPO is by the CEO and Founder of the company Bhavish Agarwal. He will be diluting 37.9 million shares in this IPO. Currently, the main competitors of OLA Electric include Bajaj Auto, TVS Motor, Ather Energy, and similar firms. The objectives of the IPO include increasing capital expenditure for future expansions, debt repayment, and boosting R&D.Â
- Akums Drug And Pharmaceuticals Limited IPO: This pharma company will open its IPO on 30 July 2024, Tuesday, and the same will run until 1 August 2024. The price for the IPO has been set at a price band of ₹ 646 to ₹ 679 apiece with a face value of ₹ 2 per share. For anchor investors, Akums Drug and Pharmaceuticals Limited IPO has already opened for the anchored investors today. The total number of shares to be issued is around 2.78 crores and this issue will be a book-building IPO. Akums Drugs has reserved 75% of the issue for the Qualified Institutional Buyers (QIB) which is quite high while for Non-Institutional Investors (NII), the company has reserved only 15% and the remaining 10% will be issued to the retail investors.Â
- Ceigall India IPO: Another upcoming ipo this week is Ceigall India IPO, which will be open for subscription on 1 August, Thursday. The price band set for the issue is ₹ 380 to ₹ 401 for each equity share of face value ₹ 5 per share. The IPO will be open for subscription until 5 August. This issue is an offer for sale where 14174840 equity shares will be sold by existing shareholders and include a fresh issue of equity shares worth ₹ 684.3 crore. The proceeds of the IPO are to be used for the purchase of equipment, debt repayment, and corporate expenses of the company and its subsidiaries as well.Â
- Clinitech Laboratory IPO: The third IPO is already open for subscription since 25 July. Until 29 July that is today, you can subscribe to the IPO whose price band is set at ₹ 96 per share and the total amount to be raised is around ₹ 578.30 lakhs. It is a fresh issue of equity shares, where around 602400 equity shares have been issued. The IPO proceeds will be used for expanding the business by building new diagnostic centers and to finance other general corporate expenses.Â
- S A Tech Software India IPO: On 26 July 2024, S A Tech Software India ipo opened for subscription and it will run until tomorrow. This is one of the SME IPO this week that is open for subscription amongst all the mainboard IPOs. The price band set for the issue is ₹ 56 to ₹ 59 each share and the total amount to be raised from the issue is around ₹ 23.01 crore. You can expect the listing of this stock on the SME exchanges on Friday 2 August 2024.Â
The IPO market is booming every week with new issues, and listings. To invest in any upcoming ipos you need to keep an eye on the latest ipo news and updates and evaluate the businesses of the companies launching the IPOs to make wise investment decisions.
Source: https://www.livemint.com/
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.