IPOs Next Week: The primary market witnessed some major listings in both mainstream and small and medium enterprises (SME) segments last month, which kept investors engaged with subscriptions and listings. Continuing, November also sees strong market buzz – similarly packed with new listings and initial public offering (IPO) issues that are available for subscription.
In the main market last week, main board IPO of Cello World, Honasa Consumer and ESAF Small Finance Bank opened to raise ₹4,064 crores.
”In terms of the number of IPOs, India’s share in the global pie has increased sharply. In 2021, India’s share in the total number of IPOs globally 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 rose to 13 percent,” said Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd, a middle market investment bank.
”India’s IPO sector is booming with the country emerging as the global leader in the number of public offerings this year. The rush to the market is expected to continue well into 2024 with investors encouraged by strong listed earnings and a robust economy. This month alone, there are 14 IPOs planned. So far during 2023 YTD, 39 IPOs have hit the street and taken off ₹35,131.96 crore,” Lunawat added
”Next week looks promising as the focus is on Protean eGov Technologies and ASK Automotive opens to raise ₹1,324 crore of funds,” the analyst said.
Among the ongoing issues, IPO of ESAF Small Finance Bank, IPO of Micropro Software Solutions and IPO of Baba Food Processing will close on November 7.
Protean eGov Technologies IPO
The main board IPO opens for subscription on November 6 and closes on November 8. Protean eGov Technologies IPO is a book built number of ₹490.33 crores. The issue is entirely an offer for sale of 0.62 crore shares. Protean eGov Technologies IPO price band is set at ₹752 to ₹792 per share.
ASK Automotive IPO
The main board IPO opens for subscription on November 7 and closes on November 9. ASK Automotive IPO is a book-built number of ₹834.00 crores. The subject consists of a fresh number of ₹834.00 crore and an offer for sale of 2.96 crore shares. ASK Automotive IPO price band is set at ₹268 to ₹282 per share.
Sunrest Lifescience IPO
The SME IPO opens for subscription on November 7 and closes on November 9. Sunrest Lifescience IPO is a fixed price issue of ₹10.85 crores. The issue is a completely fresh issue of 12.91 lakh shares. Sunrest Lifescience IPO price is ₹84 per share.
ROX Hi-Tech IPO
The SME IPO opens for subscription on November 7 and closes on November 9. ROX Hi-Tech IPO is a book-built number of ₹54.49 crores. The issue is a combination of fresh issue of 60.18 lakh shares coupled with ₹49.95 crore and an offer for sale of 5.47 lakh shares aggregating to ₹4.54 crores. ROX Hi-Tech IPO price band is set at ₹80 to ₹83 per share.
Read also: Mamaearth IPO day 3: Issue subscribed 7.61 times; retail, QIB, employee share fully reserved
New Listings:
Cello World: Shares of the main board IPO will be listed on BSE and NSE stock exchanges on November 6.
Honasa Consumer Limited/Mamaearth: Shares of the main board IPO will be listed on BSE and NSE stock exchanges on November 10. The allotment will be finalized on November 7. The refunds will be started on November 8th and shares will be credited to demat accounts on November 9th.
KK Shah Hospitals: Shares from the SME IPO will be listed on BSE SME on November 8. The refunds will be started on November 6th and shares will be credited to demat accounts on November 7th.
Maitreya Medicare Limited: Shares from the SME IPO will be listed on NSE SME on November 9. The allocation will be finalized on November 6. The refunds will be started on November 7th and shares will be credited to demat accounts on November 8th.
Transteel Seating Technologies: Shares from the SME IPO will be listed on NSE SME on November 9. The allocation will be finalized on November 6. The refunds will be started on November 7th and shares will be credited to demat accounts on November 8th.
Vrundavan Plantation: Shares from the SME IPO will be listed on BSE SME on November 9. The allocation will be finalized on November 6. The refunds will be started on November 7th and shares will be credited to demat accounts on November 8th.
Mish Designs: Shares from the SME IPO will be listed on BSE SME on November 10. The allocation will be finalized on November 7. The refunds will be started on November 8th and shares will be credited to demat accounts on November 9th.
SAR Televenture: Shares of the SME IPO will be listed on NSE SME on November 8. The allocation will be finalized on November 6. The refunds will be started on 7th November and shares will be credited to demat accounts on 7th November.