The primary market is buzzing after the election, with nine public offers set to launch next week. Among these, Allied Blenders and Vraj Iron and Steel will open on the mainboard segment.
In the SME segment, seven issues will open for subscription next week.
Additionally, 11 companies, including Stanley Lifestyles, DEE Development Engineers, and Akme Fintrade, will list their shares next week. DEE Development Engineers and Akme Fintrade received a strong response from investors, with subscriptions of 99 times and 55 times, respectively.
Analysts believe India’s strong economy, active stock market, and growing interest from retail investors make it a great time for IPOs. “We are on the verge of long-term growth in the IPO market. This year could be the best ever for IPOs, thanks to India’s solid economic environment and growth prospects,” said Mahavir Lunawat, MD of Pantomath Capital.
What to Expect Next Week:
Allied Blenders and Distillers IPO
- Company: Maker of Officer’s Choice whisky
- Price Band: Rs 267-281 per share
- IPO Size: Rs 1,500 crore
- Subscription Dates: June 25 to June 27
- Details:
- Fresh equity issue: Rs 1,000 crore
- Offer-for-sale (OFS): Rs 500 crore by promoters
- Use of Funds: Rs 720 crore for debt repayment, general corporate purposes
- Debt: Rs 808 crore as of December 2023
- Market Capitalisation Post-Issue: Rs 7,860 crore
Vraj Iron and Steel IPO
- Subscription Dates: June 26 to June 28
- Price Band: Rs 195-207 per equity share
- Use of Funds:
- Capital expenditure at Bilaspur Plant: Rs 164.50 crore
- General corporate purposes
- Debt Repayment:
- Rs 70 crore loan from HDFC Bank
- Internal accruals: Rs 32 crore already deployed, Rs 3 crore to be added
- Lead Manager: Aryaman Financial Services Limited
SME IPOs
Seven SME IPOs will launch next week:
- Companies: Visaman Global Sales, Mason Infratech, Slyvan Plyboard, Shivalic Power Control, Petro Carbon and Chemicals, Divine Power, Akiko Global Services
- Subscription Start Dates:
- June 24: Visaman Global Sales, Mason Infratech, Slyvan Plyboard, Shivalic Power Control
- June 25: Petro Carbon and Chemicals, Divine Power, Akiko Global Services
- Notable IPOs:
- Petro Carbon and Chemicals: Rs 113 crore
- Shivalic Power Control: Rs 64 crore
Next week promises to be active in the IPO market with numerous new issues and listings, reflecting the strong post-election momentum.
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