IPOs This Week: Dalal Street to remain buzzing as 6 new companies gear up to raise ₹7,300 crore; check full list here

”In terms of the number of IPOs, India’s share in the global wage has increased significantly. In 2021, India’s share in the total number of IPOs worldwide stood at 6 percent. It increased to 11 percent in 2022. In the first half of 2023, India’s share in the number of global IPOs increased to 13 percent,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd, a mid-market investment bank.

Tata Technologies IPO

The much-anticipated one will open for subscription on November 22nd and close on November 24th. The company has set a price band ₹475 – ₹ 500 per share. This is the first IPO from the Tata Group after almost 19 years.

The engineering services firm, more value ₹ 20,000 crore in the market, trying to raise it above ₹3,042.51 crore through the Offer for Sale (OFS). The promoters, Tata Motors, along with investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I, are the participating selling shareholders in the OFS.

IREDA IPO

The Mini Ratna venture, which will be among the first of six IPOs in the mainframe segment, will open for subscription on November 21 and close on November 23. The price band for the IREDA IPO has been set by ₹30 – ₹32 per share.

The aim of the financial entity is to rise above it ₹2,150.21 crore by offering 67.19 crore equity shares in public issue at the price ceiling. The initial public offering (IPO) comprises a fresh offer of 40.31 crore equity shares valued at ₹1,290.13 crore by the company, along with a government offer for sale (OFS) in which 26.87 crore shares were valued at ₹860.08 crore.

Gandhar Oil Refinery India IPO

The white oils manufacturer will open for tender on November 22 and close on November 24 with a price band of ₹160 – ₹169 per share. The Mumbai-based company plans to rise above it ₹500.69 crore from the issue.

The IPO includes a new issue of shares valued at ₹302 crore, along with an Offer for Sale (OFS) of a total of 1.17 crore equity shares ₹198.69 crore. The selling shareholders, including promoters Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh, will participate in the OFS.

Notably, Green Desert Real Estate Brokers, Denver Bldg Mat & Décor TR LLC, and Fleet Line Shipping Services LLC, among the selling shareholders, will fully divest from the company by selling their entire stake through the OFS.

Fedbank Financial Services IPO

Fedbank Financial Services will be the third company to launch its IPO in the coming week, looking to raise ₹1,092 crore. The IPO will open for bidding on November 22 and close on November 24.

The price band for the Fedbank Financial Services IPO has been set at ₹133 – ₹140 per share.

The Non-Banking Finance Company (NBFC) IPO, backed by the Federal Bank and the True North Fund, includes a new issue of shares valued at ₹600 crore and an offer for sale (OFS) worth 3.5 crore equity shares ₹492.26 crore, and the selling shareholders are the Promoter, Federal Bank, and the investor True North Fund VI LLP, a private equity fund.

Flair Writing Industries IPO

The Flair Writing Industries, a Mumbai-based stationery products manufacturer, will float its IPO during November 22 and November 24 with a price band of ₹288 – ₹304 per share.

The company plans to raise ₹593 crore through its initial offer, comprising ₹292 crore in new shares and a ₹301 crore Offer for Sale (OFS) by the Rathod family.

Circular Economy Rocking Deals IPO

The B2B re-commerce company is set to launch its public offering for subscription on November 22, with a share price range of ₹136 – ₹140. The donation window will remain open until 24 November.

Specializing in the wholesale trade of surplus inventory, open-box goods, re-commerce products, and refurbished goods, the company aims to raise ₹21 crore through the IPO. This fundraising effort is a fresh issue of shares only.

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Updated: 19 November 2023, 09:15 AM IST