IPO Rush: Seven New Issues, Five Listings To Hit Street This Week
The week will also see five companies debuting on the exchanges, with one in the mainboard space.
India's primary market will remain buzzing during the week with the public issue of seven companies and five listings.
Orient Technologies Ltd. and Interarch Building Products Ltd. will be among the seven companies to raise funds via an initial public offering in the mainboard segment.
The Rs 600.3-crore IPO of Interarch Building Products will open for subscription on Aug. 19, with a price band of Rs 850–900 per share. The public issue consists of a fresh issue of shares worth Rs 200 crore and an offer-for-sale component of Rs 400.3 crore, according to the red herring prospectus.
Orient Technologies set the price band of Rs 195–206 per share for its Rs 241.76 crore public issue due to open for subscription on Aug. 23. The public issue consists of a fresh issue of shares worth Rs 120 crore and an offer-for-sale component of Rs 94.76 crore.
The subscriptions for Brace Port Logistics Ltd. and Forcas Studio Ltd. in the small and medium enterprise segment will begin on Aug. 19. The companies will look to raise Rs 24.4 crore and Rs 37.4 crore, respectively.
On August 21, the Rs 16-crore IPO of Ideal Technoplast Industries Ltd. and the Rs 24-crore public issue of QVC Exports Ltd. will open for subscription, followed by the Rs 12-crore issue of Resourceful Automobile Ltd. the following day.
India's IPO success story is taking shape amid global economic uncertainty and geopolitical tensions, according to Pantomath Capital Advisors Pvt. "Whether the country can keep up this momentum amidst the global challenges will depend on several factors, including economic growth, the regulatory landscape, and global market trends."
The week will also see five companies debuting on the exchanges with one in the mainboard space. Shares of Saraswati Saree Depot Ltd. was subscribed 107.52 times on its third and final day. The public issue consisted of a fresh issue of 64.9 lakh shares and an offer-for-sale consisting of 35.01 lakh shares.
Broach Lifecare Hospital Ltd., Solve Plastic Products Ltd., Positron Energy Ltd., and Sunlite Recycling Industries Ltd. will be the other companies to debut in the SME segment during the week.
