Three significant IPOs are set to launch this week: DEE Development Engineers, Stanley Lifestyles, and Akme Fintrade India.
This week, the Indian stock market will see three mainboard Initial Public Offerings (IPOs) worth a total of ₹1087 crore. The IPOs are from DEE Development Engineers, Stanley Lifestyles, and Akme Fintrade India.
Here’s a look at each IPO in detail:
DEE Development Engineers IPO
- Opening Date: 19th June 2024
- Closing Date: 21st June 2024
- Price Band: ₹193 to ₹203 per share
- Fundraising Goal: ₹418.01 crore
- Fresh Issue: ₹325 crore
- Offer for Sale (OFS): ₹93.01 crore
- Grey Market Premium (GMP): ₹49 today
DEE Development Engineers, a company in the engineering sector, is set to raise funds through a mix of new shares and shares sold by current owners (OFS). The IPO will open for bidding on Wednesday.
Akme Fintrade India IPO
- Opening Date: 19th June 2024
- Closing Date: 21st June 2024
- Price Band: ₹114 to ₹120 per share
- Fundraising Goal: ₹132 crore (purely through new shares)
- Grey Market Premium (GMP): ₹34 today
Akme Fintrade India, also known as Aasaan Loans, is a non-banking financial company (NBFC) offering various financial services. This IPO will also open on Wednesday and aims to raise ₹132 crore by issuing new shares.
Stanley Lifestyles IPO
- Opening Date: 21st June 2024
- Closing Date: 25th June 2024
- Price Band: ₹351 to ₹369 per share
- Fundraising Goal: ₹537.02 crore
- Fresh Issue: ₹200 crore
- Offer for Sale (OFS): ₹337.02 crore
- Grey Market Premium (GMP): ₹111 today
Stanley Lifestyles, a luxury furniture company, is set to launch its IPO on Friday. The funds will be raised through a combination of new shares and shares sold by existing owners (OFS).
These IPOs provide an opportunity for investors to participate in the growth of these companies. Each IPO has a price range within which investors can place their bids. The grey market premiums (GMP) offer an early indication of market interest and potential demand.
With these three IPOs opening, a significant amount of ₹1087 crore will be up for grabs in the Indian primary market this week.
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