IPOs This Week: Hyundai Motor Listing In Focus, Eight New Offerings
There are more SME IPOs opening this week in comparison to mainboard IPOs, with three of them opening on the same date.
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India's primary market is set for an active week, with the public issue of eight companies and three listings, including Hyundai Motor India Ltd., anticipated.
The mainboard initial public offering to go live include Godavari Biorefineries Ltd. The company is in the business of manufacturing of ethanol-based chemical products in India with integrated refinery. The IPO will open for subscription from Oct. 23 to Oct. 25. The IPO has a total size of Rs 554.8 crore, and the funds raised will be used for repayment of borrowings worth Rs 240 crore.
Another mainboard IPO that is opening is Waaree Energies Ltd., which is set to launch its IPO valued at Rs 4,321.4 crore, consisting of a fresh issue of 2.4 crore shares and an offer for sale of 48 lakh shares.
The subscription window opens on Oct. 21 and closes on Oct. 23. The price band is set between Rs 1,427 and Rs 1,503 per share, with a minimum investment of Rs 13,527 required for retail investors.
Deepak Builders & Engineers India Ltd. will also launch its IPO, which opens for subscription on Oct. 21 and closes on Oct. 23. The Rs 260-crore IPO comprises a fresh issue of 1.07 crore shares and an offer for sale of 21 lakh shares.
There are more SME IPOs opening this week in comparison to mainboard IPOs, with three of them opening on the same date.
Premium Plast Ltd.'s IPO will on Oct. 21 and will close on Oct. 23. The price band is Rs 46 to Rs 49 per share, requiring a minimum investment of Rs 1.47 lakh. Listing of the shares is expected on Oct. 28.
OBSC Perfection Ltd., United Heat Transfer Ltd. and Danish Power Ltd. will open on Oct. 22 and close on Oct. 24.
Usha Financial Services Ltd. will open on Oct. 24 and close on Oct. 28, with an issue size of Rs 98.5 crore. The price band is set at Rs 160 to Rs 168 per share, and the listing is expected on Oct. 31.
Three IPOs are set to list this week, including, Hyundai Motor India Ltd. which closed on Oct 17 and was subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. The Rs 27,870-crore IPO got bids for 23 lakh shares against nine 9 lakh shares on offer. The IPO is expected to list on Oct. 22.
Lakshya Powertech Ltd. Freshara Agro Exports Ltd. each of which recently completed their subscription periods and are expected to list on Oct. 23 and Oct. 24 respectively.
