With a number of companies making their Dalal Street debut through initial public offerings (IPOs) and strong investor sentiment, the primary markets are currently a flurry of activity.
Market Highs and Bullish Trends
The benchmark indices, Sensex and Nifty, have both reached all-time highs in the Indian stock market, which has been enjoying a bullish upswing. This positive trend has been reflected in other markets as well. This has also added to the market’s increased optimism for IPOs. Six mainboard initial public offerings (IPOs) will be available for subscription starting on Tuesday, December 19. Together, these businesses hope to raise a sizeable sum of 3,100 crore from the main market. Furthermore, three initial public offerings (IPOs) of small and medium-sized enterprises (SMEs) will be made available for subscription, offering investors attractive investment prospects in the market.
Suraj Estate Developers IPO
Suraj Estate Developers, a real estate construction company, launched its initial public offering (IPO) on December 18 and will end on Wednesday, December 20. The ₹400-crore Suraj Estate Developers initial public offering (IPO) consists of a new issue of 1.11 crore equity shares and a book-built issue. The fixed price range for the Suraj Estate Developers initial public offering is ₹340 to ₹360 per share. Retail investors must invest a minimum of ₹14,760, and the IPO lot size is 41 shares.
The Suraj Estate Developers IPO’s book running lead managers are ITI Capital Ltd and Anand Rathi Securities, and the registrar is Link Intime India Private Ltd. 78% of the IPO for Suraj Estate Developers has been subscribed as of the first day.
Muthoot Microfin IPO
On December 18, subscriptions for the Muthoot Microfin IPO opened, and 95% were reserved on the first day. The deadline for the public issue is December 20. The price range for the Muthoot Microfin IPO is ₹277 to ₹291 per share. With the first offer, which consists of a new issuance of 2.61 crore equity shares totaling 760 crore and an offer for sale (OFS) of 68.72 lakh shares totaling 200 crore, the company hopes to raise 960 crore.
Happy Forgings IPO
The IPO for Happy Forgings will begin on Tuesday, December 19, and run through Thursday, December 21. Through the offering, which consists of an OFS of 71.59 lakh equity shares and a new issue of 400 crore, the company hopes to raise 1,008.59 crore. The price range for Happy Forgings’ initial public offering is ₹808 to ₹850 per share. According to market observers, the company’s shares are currently available on the grey market for a premium of ₹411 apiece.
Credo Brands Marketing IPO
The goal of Credo Brands Marketing’s IPO, which is scheduled to begin today, December 19, is to raise about 549.78 crore. The business sells casual wear under the “Mufti” brand. The Mufti Menswear IPO has a price range of ₹266 to ₹280 per share and is solely an OFS of 1.96 crore equity shares. Prior to the IPO, the company has already raised ₹164.93 crore from anchor investors. The deadline for the public issue is December 21.
RBZ Jewellers IPO
On December 19, jewellery company RBZ Jewellers will also make its initial public offering (IPO). The ₹100 crore RBZ Jewellers initial public offering (IPO), which ends on December 21, is a completely new issuance of one crore equity shares. The price range for the IPO is between ₹95 and ₹100 per share. Prior to its initial public offering, RBZ Jewellers, a manufacturer of gold jewellery, has already raised more than ₹21 crore from anchor investors. On Monday, December 18, 2023, at ₹100 per share, the company notified the bourses that it had allotted 21,00,000 equity shares to anchor investors.
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