IPO Market Cools Down: Only Two New Issues to Raise ₹365 Crore Next Week Amid Stock Market Volatility

After a busy few weeks in the IPO (Initial Public Offering) market, things are slowing down. Only two companies will be launching IPOs next week, aiming to raise a total of ₹365 crore. In September, there were 12 IPOs on the main market and 40 in the small and medium enterprise (SME) segment.

The two IPOs scheduled for next week, starting on October 7, are Garuda Construction and Engineering on the main board and Shiv Texchem in the SME segment.

IPO Details for Garuda Construction and Shiv Texchem

Garuda Construction plans to raise ₹264 crore, while Shiv Texchem is looking to collect over ₹101 crore. Both IPOs will be open for public subscription from October 8 to October 10.

Despite this brief slowdown, the overall IPO outlook is strong. There are currently 26 companies, approved by SEBI, set to raise around ₹72,000 crore. Another 55 companies are awaiting SEBI’s approval and hope to raise about ₹89,000 crore, according to Primedatabase.

Hyundai’s Record IPO Coming Soon

Later this month, Hyundai Motor India Ltd, a major player in the Indian automotive market, is set to launch its IPO on October 14. Hyundai plans to raise around ₹25,000 crore, which would make it the largest IPO in India’s history, surpassing LIC’s ₹21,000 crore offering.

Strong IPO Market Momentum

The IPO market has been doing well thanks to several factors, including strong mutual fund inflows and increased corporate investment. Experts believe these trends will continue to boost the market in the coming months.

Garuda Construction and Engineering’s IPO

Garuda’s IPO includes a fresh issue of 1.83 crore equity shares and a sale of 95 lakh shares by promoter PKH Ventures. The price range is set at ₹92 to ₹95 per share. Out of the funds raised, ₹100 crore will go towards working capital, while the rest will be used for general corporate purposes, including possible acquisitions.

Shiv Texchem’s IPO

Shiv Texchem’s IPO is a completely new issue of over 61 lakh shares, aiming to raise ₹101.35 crore. The price range is set between ₹158 and ₹166 per share.

Other SME IPOs and Upcoming Listings

Khyati Global Ventures’ IPO, which opened on October 4, will close on October 8. Additionally, six companies from the SME segment will list next week. HVAX Technologies and Saj Hotels will debut on October 7, Subam Papers and Paramount Dye Tec on October 8, NeoPolitan Pizza and Foods on October 9, and Khyati Global Ventures on October 11.