In a week that promises heightened activity, Dalal Street is gearing up for the launch of initial public offerings (IPOs) by six new companies, signaling a potential frenzy in the financial market. The surge in India’s presence on the global IPO stage is evident, with Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd, noting a remarkable increase. Starting at 6% in 2021, India’s share in global IPOs climbed to 11% in 2022 and further surged to an impressive 13% in the first half of 2023.
Tata Technologies Leads the Charge
The highly anticipated IPO of Tata Technologies is set to open for subscription from November 22 to November 24. With a price band of ₹475 – ₹500 per share, this marks the return of the Tata Group to the IPO landscape after nearly 19 years. The engineering services firm, valued at over ₹20,000 crore, aims to raise ₹3,042.51 crore through the Offer for Sale (OFS), featuring Tata Motors, Alpha TC Holdings Pte Ltd, and Tata Capital Growth Fund I as participating selling shareholders.
IREDA IPO – A Mini Ratna’s Debut
Among the first in the mainboard segment, the IREDA IPO will open for subscription on November 21, closing on November 23. Priced at ₹30 – ₹32 per share, this Mini Ratna enterprise aims to raise over ₹2,150.21 crore. The IPO includes a new offering of 40.31 crore equity shares valued at ₹1,290.13 crore by the company, coupled with a government offer-for-sale (OFS) involving 26.87 crore shares valued at ₹860.08 crore.
Gandhar Oil Refinery India – Crafting Success
The white-oils manufacturer, Gandhar Oil Refinery India, is set to open its IPO for bidding from November 22 to November 24, featuring a price band at ₹160 – ₹169 per share. The Mumbai-based company seeks to raise over ₹500.69 crore, comprising a new issuance of shares valued at ₹302 crore and an Offer for Sale (OFS) of 1.17 crore equity shares totaling ₹198.69 crore.
Fedbank Financial Services Enters the Fray
As the third company launching its IPO in the coming week, Fedbank Financial Services invites subscriptions from November 22 to November 24. Priced at ₹133 – ₹140 per share, this Non-Banking Financial Company (NBFC) aims to raise over ₹1,092 crore. The IPO includes a new issuance of shares valued at ₹600 crore and an offer-for-sale (OFS) featuring 3.5 crore equity shares worth ₹492.26 crore.
Flair Writing Industries – Scripting a New Chapter
Mumbai-based stationery products manufacturer, Flair Writing Industries, is set to debut its IPO from November 22 to November 24, presenting a price band of ₹288 – ₹304 per share. The company aims to raise ₹593 crore through a combination of ₹292 crore in new shares and a ₹301 crore Offer for Sale (OFS) by the Rathod family.
Rocking Deals Circular Economy – A Sustainable Offering
Completing the IPO lineup is Rocking Deals Circular Economy, a B2B re-commerce company. Opening for subscription on November 22 and closing on November 24, the IPO features a share price range of ₹136 – ₹140. The company targets a fundraising goal of ₹21 crore through a fresh issue of shares.
With these offerings, Dalal Street is poised for an exciting week of IPO action, reflecting the dynamic landscape of India’s financial market.
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