Indian IPO Frenzy: Gala Precision & Jeyyam Global Foods Lead 2 New Issues as Foreign Investors Aims 11 Listings Next Week

The Indian IPO market is experiencing a surge, thanks to positive market sentiment and strong economic conditions. Next week, two companies are set to launch their IPOs, one on the mainboard and the other in the SME segment.

Mainboard IPO: Gala Precision Engineering

Gala Precision Engineering will open its IPO for subscription on September 2, with a price range of ₹503-529 per share. The company plans to raise ₹167 crore through this issue, which includes a fresh equity issue of 25.59 lakh shares and an offer for sale (OFS) of 6.16 lakh shares. The funds will be used to set up a new manufacturing facility, purchase equipment, repay debt, and for general corporate purposes.

Gala Precision is a tech-focused company with over 30 years of experience in developing custom products. It holds about a 15% market share in the domestic SFS market for wind turbines.

SME Segment: Jeyyam Global Foods

Jeyyam Global Foods will also launch its IPO on September 2, closing on September 4. This IPO is a fresh equity sale of 1.34 crore shares, priced between ₹59-61 per share. At the upper price range, the company aims to raise around ₹82 crore.

Jeyyam Global Foods specialises in producing and processing Bengali chickpeas, fried gram, and besan flour, supplying these products to various markets, including distributors, large retailers, and branded supermarkets.

Upcoming Listings

In addition to these new IPOs, 11 companies, including Premier Energies and Ecos Mobility, will have their shares listed next week. These companies’ recent IPOs received strong responses, indicating continued investor interest.

Analysts predict that the IPO market will remain active throughout the year, driven by favourable market conditions and the strong performance of recently listed companies. This trend is encouraging more companies to raise funds through IPOs, with foreign investors particularly drawn to India’s market for its potential high returns.

These upcoming IPOs and listings reflect the ongoing momentum in the Indian market, offering exciting opportunities for investors.