IPOs This Week: No Mainboard Issue; Waaree Energies, Danish Power, Usha Financial Among Eight Listings
Usha Financial Services Ltd., Godavari Biorefineries Ltd., Danish Power Ltd., Waaree Energies Ltd. are among the companies that will be listed on the bourses.
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As India's primary market enters the final week of October, it may experience a dull run ahead. There are no new initial public offering hitting the markets although eight new companies will be listed on the exchanges.
Usha Financial Services Ltd., Godavari Biorefineries Ltd., Danish Power Ltd., Waaree Energies Ltd. and Deepak Builders & Engineers India Ltd. are among the companies that will be listed on the bourses.
Waaree Energies IPO was subscribed 76.34 times on its final day. It was a mix of a fresh issue worth Rs 3,600 crore and an offer for sale of 48 lakh shares at face value of Rs 10 each.
The solar module manufacturer acquired around Rs 1,277 crore from anchor investors. The IPO was offered at a price band of Rs 1,427 to Rs 1,503 per share.
Godavari Biorefineries was subscribed 1.83 times on the third day. The IPO was a mix of fresh issue of 92 lakh shares worth Rs 325 crore and an offer for sale of 65 lakh shares worth Rs 229.8 crore.
The ethanol manufacturer raised Rs 166.4 crore through anchor investors and it offered its IPO at a price band set at Rs 334 to Rs 352 per share.
Afcons Infrastructure Ltd.'s IPO will be open for subscription for a second day on Oct. 28. It will raise up to Rs 5,430 crore through IPO and was subscribed 10% on day 1.
Also, Usha Financial Services Ltd. will be open for subscription for the third day on Oct. 28.
Upcoming IPOs
In the coming weeks, IPOs from Swiggy and ACME Solar Holdings Ltd. are set to launch.
Swiggy filed its initial documents with the market watch dog Securities and Exchanges Board of India to raise funds through IPO. It will include a fresh issue of Rs 3,750 crore and an offer for sale of 18.5 crore shares.
The company also received clearance from its shareholders to increase its fresh issue component of its IPO to Rs 5,000 crore from the present Rs 3,750 crore.
As part of the offer for sale in the issue, the company’s founders Sriharsha Majety will sell more than 1.7 million shares, while Rahul Jaimini will sell over 1.1 million shares. Other selling shareholders include Accel, Prosus, Meituan, Norwest Venture Partners, Alpha Wave Ventures, Coatue, and Tencent Cloud.
