India’s IPO Market Soars: 2 New Public Issues and 4 Listings Set for Dalal Street Next Week
India is now the second-largest market for initial public offerings (IPOs). With the election results out, it’s expected that the continuation of existing policies will further boost the IPO market.
“India has become the 2nd largest IPO market. With election results being out, the continuation of existing policies is highly expected which will fuel the IPO boom further. We witness significant capital to be deployed in public markets & strong demand for new-age as also conventional companies,” said Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd., a leading mid-market investment bank.
Lunawat also mentioned, “We believe that companies with good fundamentals will go public & attract large amounts of capital from street. The upcoming Union Budget will be a crucial trigger for understanding the new government’s strategy for the economy.”
Next week, the primary market will slow down a bit with only two new IPOs. On the mainboard, Le Travenues Technology Ltd, which operates Ixigo, will launch its IPO. In the small and medium enterprise (SME) segment, United Cotfab will open its IPO for subscription.
IPOs Opening for Subscription Next Week
Ixigo IPO
The Ixigo IPO will open for bidding on June 10 and will close on June 12. This IPO, valued at ₹740.10 crore, includes a fresh issue of 1.29 crore shares worth ₹120 crore and an offer for sale of 6.67 crore shares worth ₹620.10 crore. The price band is set at ₹88 to ₹93 per share. The lead managers are Axis Capital Limited, Dam Capital Advisors Ltd (formerly IDFC Securities Ltd), and JM Financial Limited. Link Intime India Private Ltd is the registrar.
United Cotfab IPO
The United Cotfab IPO will be open for subscription from June 13 to June 19. This SME IPO is a fixed price issue of ₹36.29 crore, consisting entirely of a fresh issue of 51.84 lakh shares at ₹70 per share. Beeline Capital Advisors Pvt Ltd is the lead manager, and Purva Sharegistry India Pvt Ltd is the registrar.
New Listings
- Kronox Lab Sciences IPO: Allotment was finalized on June 6, 2024. It will list on BSE and NSE on June 10.
- 3C IT IPO: Allotment is expected to be finalized on June 10, 2024. It will list on BSE SME on June 12.
- Sattrix IPO: Allotment is expected to be finalized on June 10, 2024. It will list on BSE SME on June 12.
- Magenta Lifecare IPO: Allotment is expected to be finalized on June 10, 2024. It will list on BSE SME on June 12.
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