IPO Rush: Dalal Street To See Five New Issues, Three Listings This Week

India's primary market will remain buzzing this week with initial public offerings of five companies with another three set to debut on the national bourse.

Among the five companies set to open for subscription this week, Saraswati Saree Depot Ltd. will be the only IPO in the mainboard space. The offering will open Monday to raise up to Rs 160.01 crore at a price band of Rs 152 to 160 per share.

The public issue consists of a fresh issue of 64.9 lakh shares and an offer-for-sale component consisting 35.01 lakh shares. The minimum lot size for bidding will be 90 shares, with further bids to be made in multiples.

In the small and medium enterprises space, the public offerings of Positron Energy Ltd., and Sunlite Recycling Industries Ltd. will open for subscription on Monday. Positron Energy is set to raise Rs 51.2 crore at an issue price of Rs 238 to 250 per share, while Sunlite Recycling Industries will raise up to Rs 30.24 crore at a price band of Rs 100 to 105 per share.

The offerings of Broach Lifecare Hospital Ltd., and Solve Plastic Products Ltd. will open on Aug. 13 as they will mop up Rs 4.02 crore and Rs 11.85 crore, respectively.

The Indian IPO market has demonstrated remarkable resilience and growth, making it a focal point for investors worldwide, according to Pantomath Capital Advisors Pvt. In the first half of calendar year 2024, India emerged as the most active market for IPOs, it said.

"As per our analysis, we anticipate that this trend will continue in the second half of the calendar year, driven by a surge in liquidity events."

On the listing front, scrips of FirstCry-operator Brainbees Solutions Ltd., and Unicommerce eSolutions Ltd. will debut on the mainboard section of the national bourses on Aug. 13.

Brainbees Solutions' initial public offering was subscribed 12.22 times on its third and final day. The SoftBank-backed Unicommerce eSolutions' offering became the second biggest in terms of subscription so far in 2024, after it secured bids of 168.35 times on its final day.

Meanwhile, shares of Aesthetik Engineers Ltd. will be list in the SME segment on Friday.

The IPO market updates also indicate a strong listing performance, with some stocks listing at premiums, Pantomath Capital Advisors said. "This has boosted investor confidence, leading to increased participation in subsequent IPOs."