The evident rise of the IPO market in India has been phenomenal this year. Every week there have been quite a few companies launching their upcoming IPOs in the primary market and this week is no exception. Another major shift in the IPO market that has been witnessed this year is the growing number of SME segment ipo. IPOs this week also have 5 SME launches and one mainboard launch. Let’s see the details of these upcoming IPOs.
Upcoming IPOs this week
- Gala Precision Engineering IPO: On 2 September 2024, Gala Precision Engineering IPO will open the subscription window, which will run until 4 September. The overall capital that this engineering firm is looking to raise is around ₹ 167.93 crores which will have 26 lakhs fresh equity share issue worth ₹ 135.34 crores and the remaining ₹ 32.59 crore from offer for sale (OFS) of 6 lakh shares. The determined price band for this book-built IPO has been set between ₹ 503 and ₹ 529 each share.
- Jeyyam Global Food IPO: The subscription for Jeyyam Global Food IPO will open from 2 September, and run until 4 September. This is an SME segment ipo that is looking to raise around ₹ 81.94 crores from a fresh equity issue of 120.89 lakh shares amounting to ₹ 73.74 crores and the remaining ₹ 8.19 crore will be fetched by the offer for sale of 13.43 lakh shares. The price band decided is between ₹ 59 and ₹ 61 per share.
- Naturewings Holidays IPO: This Travel and Tourism Company’s IPO will open on 3 September for subscription and close on 5 September. This is a fixed price issue and the price determined is ₹ 74 per share. Naturewings Holidays IPO is expected to raise around ₹ 7.03 crores from an entirely fresh issue of 9.5 lakh equity shares.
- Namo eWaste Management IPO: This SME segment IPO is quite different as this is one of the few from this industry. The Namo eWaste Management IPO will open on 4 September and run until 6 September. This is a book-built issue that will raise around ₹ 51.20 crore by issuing 60.24 lakhs fresh equity shares. The price band set for this issue is ₹ 80 to ₹ 85 per share.
- Mach Conference and Events IPO: The ipos this week also include Mach Conference and Events IPO which is aiming to raise around ₹ 125.28 crore from the primary market through its book-built IPO. The launch will be on 4 September, and you can subscribe for the shares of this company until 6 September. This is a mix of fresh equity issue and OFS where 22.29 lakh fresh equity shares will be issued worth ₹ 50.15 crore and on the other hand, OFS of 33.39 lakh shares will be on which will amount to ₹ 75.13 crore. The price band for this IPO has been ₹ 214 to ₹ 225 per share.
- My Mudra Fincorp IPO: This financial service is also launching its IPO this week from the SME segment. The launch will be on 5 September and run until 9 September, when it will raise around ₹ 33.26 crore from its fresh equity issue of 30.24 lakh shares. The decided price band for the My Mudra Fincorp IPO is ₹ 104 per share to ₹ 110 per share.
IPOs Open For Subscription
- Baazar Style Retail IPO: The Baazar Style Retail IPO has already opened its subscription on 30 August, but it will run until 3 September. So, if you have not subscribed for the same, but you want to, then you can subscribe now. This IPO is expected to raise ₹ 834.68 crore from fresh issue of 38 lakh equity shares which will amount to ₹ 148 crore and OFS of 1.77 crore shares which will amount to ₹ 686.68 crore. The price band for the IPO was set at ₹ 370 per share to a maximum of ₹ 389 per share.
Listings this week
| Stocks | Listing Date |
| Premier Energies IPO | 3 September |
| Indian Phosphate IPO | 3 September |
| Vdeal System IPO | 3 September |
| Jay Bee Laminations IPO | 3 September |
| Paramatrix Technologies IPO | 4 September |
| ECO Mobility IPO | 4 September |
| Aeron Composite IPO | 4 September |
| Travels & Rentals IPO | 5 September |
| Boss Packaging Solutions IPO | 6 September |
| Bazaar Style IPO | 6 September |
What is driving the IPO market in India?
As you can see, there has been a huge rush in the primary market as IPO launches are rising with each passing week. The factors that are driving this boom in the Indian IPO market include –
- Positive market sentiment amongst investors
- Excellent economic growth
- Easing Inflation
- Stable interest rates
- Foreign investors investing in India
- Rising domestic institutional investment
Wrapping up
The potential for higher returns from the primary market, a growing economy, and unparalleled growth in IPO launches is keeping investors on their toes. However, always go through the underlying objectives of the IPO, proposed usage of the funds raised, and other details of every IPO that you want to invest in.
Source: TheLiveMint
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.