The primary market investors are anticipating the ongoing IPO run to continue as NDA again formed the government. The continuation of the policies is expected to help the businesses in the country to boom further and more IPOs to come in the future. At present, India is already at the second position worldwide, when it comes to the IPO offerings. This week, there are two IPOs, that are opening for subscriptions, and four companies will be listed on the stock exchange as well. So, let’s find out all the details of the upcoming IPOs and the listings to get a fair idea of the primary market movements this week.
Upcoming IPOs
- Ixigo IPO: This is a mainboard IPO, and the ixigo ipo launch date is 10 June 2024 and it will be open till Wednesday, 12 June. Le Travenues Technology Limited, which is commonly known as Ixigo has been a popular travel company. The IPO is a combination of a fresh issue of shares and an offer for sale. The company is offering a fresh issue of 1.29 crore shares which is worth ₹120 crores and OFS worth ₹ 620.10 crores which has 6.67 crores of shares. The price band decided for this book-building IPO of ₹ 740.10 crore IPO is ₹ 88 to ₹ 93 per share.
The ixigo ipo details say that the total income of Ixigo has gone up from ₹ 3849.41 million in FY22 to ₹ 5175.73 million in FY23 while the total income at the end of nine months ended on 31 December 2023 was ₹ 4970.97 million that has also gone up from ₹ 3787.21 million of the corresponding period in 2022.
Coming to the profits and losses, the company turned its ₹ 210.94 million loss in FY22 to ₹ 233.96 million of profit in FY23, by the end of December 2023, the profits stood at ₹ 657.12 million for the preceding nine months. As the profits increased, the earnings per share also increased during the same period.
- United Cotfab IPO: United Cotfab Ltd. is engaged in the production of open-ended yarn of premium quality for the textile industry. The united cotfab ipo launch date is 13 June 2024 and you can subscribe to it until 19 June. This is a fixed price fresh issue IPO of ₹ 36.29 crores where 51.84 lakh shares are on offer. The price for each share has been fixed at ₹ 70.
The company has been successful in generating profits for the past two financial years. According to the united cotfab ipo details, in FY22, it had a PAT of ₹ 1.6 lakhs while that grew to ₹ 13.93 lakhs in FY23 from a loss of ₹ 0.11 lakhs in FY21. Between 1 April 2023 and 30 September 2023, the company made a profit (PAT) of ₹ 295.18 lakhs, which has been a multifold increase from its previous years’ performance. Total income for the same period has been ₹ 5596.72 lakhs and that for FY23 was ₹ 64.02 lakhs and ₹ 1.88 lakhs in FY22.
New Listings
Four new listings are on the card this week, which includes –
- Kronox Lab Sciences IPO: The Company will be listed on 10 June on both BSE and BSE.
- Sattrix IPO: The allotment for Sattrix IPO will be finalized today, 10 June and it will be listed on the BSE SME segment on 12 June.
- 3C IT IPO: For this IPO also, the allotment finalization date has been 10 June, and the listing date on BSE SME is 12 June.
- Magenta Lifecare IPO: This will also get listed on BSE SME on 12 June 2024 and the allotment will be finalized on 10 June, that is today.
Conclusion
IPOs are keeping the primary market on its toes almost every week. Apart from the mainboard’s upcoming ipo, a rise in SME IPOs has also been witnessed in the previous few months. This week, out of four listings, three are SMEs and one of the two upcoming IPOs is also from the SME segment.
Sources: https://livemint.com/
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