Dalal Street: A total of 12 companies will be opening their initial public offerings this week, along with a lineup of eight new listings, indicating that the primary market is becoming more active and offering investors several investment opportunities. This is in line with the upbeat mood on Dalal Street, where benchmark indices, broader markets, and several sectors are consistently reaching new milestones.
Previous IPO Success
Following nearly Rs 4,000 crore worth of initial public offerings (IPOs) that were launched in the final week of December 15, the 12 companies will be raising more than Rs 4,600 crore in the upcoming week, beginning on December 18. All of the optimism is ascribed to the robust economic expansion, rising expectations for policy continuation following the results of the most recent state elections, the easing of monetary policy by central banks in the upcoming year, favourable oil prices, robust earnings growth expectations, and robust domestic money flow.
IPO Fundraising Comparison
According to data that will be released next week, 239 companies have raised a total of Rs 57,720 crore this calendar year, including SMEs. This is less than the Rs 61,900 crore raised by 150 initial public offerings (IPOs) that were launched the year before. “The trend of a high volume of IPOs in India is likely to persist into 2024, buoyed by strong economic initiatives and the evolving maturity of Indian startups. With over 65 IPO filings already with SEBI, and many approved, the upcoming year promises to be active for the Indian IPO market,” Sonam Srivastava, founder, and fund manager at Wright Research, PMS said.
Muthoot Microfin IPO Debut
The first of the eight businesses to go public next week on December 18 is the microfinance institution Muthoot Microfin, with a price range of Rs 277–291, per share. It plans to use a public offering at the higher price range to raise Rs 960 crore. December 20th will be the deadline. One day prior to the issue opening on December 15, it had already raised Rs 285 crore through anchor book.
Motisons Jewellers IPO Launch
Additionally, on December 18–20, the Jaipur-based jewellery retailer will launch its Rs 151-crore initial public offering (IPO), with a price range of Rs 52–55 per share. Motisons Jewellers has raised Rs 36.3 crore from two anchor investors ahead of its initial public offering (IPO) on December 15.
Real Estate IPO Alert
The Mumbai-based real estate developer is prepared to launch its Rs 400-crore first public offering on December 18–20, coinciding with Muthoot and Motisons. The price range for each share is already set at Rs 340–360. On December 15, it successfully raised Rs 120 crore from a number of anchor investors out of the entire issue size.
Precision in Progress
Next week, December 19, the day after, will be hectic as well because of three more IPO launches. Happy Forgings, a company based in Punjab that produces heavy forgings and highly precise machined components, will accept subscriptions for its Rs 1,009-crore public offering from December 19 to 21. The price range for each share is Rs 808–850.
Golden Debut
During the same period, which is December 19–21, the antique bridal gold jewellery maker’s Rs 100-crore maiden public issue will open. For its IPO, the Ahmedabad-based business has set a price range of Rs 95–100 crore. This company, following Motison Jewellers, Senco Gold, and Vaibhav Jewellers, will be the fourth to go public this year.
Denim Powerhouse
The owner of the Mufti Jeans brand, based in Mumbai, will be the third business preparing for an initial public offering (IPO) next week, on December 19–21. Credo Brands wants to raise Rs 549.78 crore by way of an IPO at the upper end of the Rs 266-280 per share price range.
Engineering Excellence
On December 20, subscriptions for the Rs 740-crore Azad Engineering IPO will open, with an equity share price range of Rs 499–524. The offer’s bidding will end on December 22. The Telangana-based business produces goods for international OEMs in the oil and gas, aerospace and defence, and energy sectors.
Last Offering of the Week
For the next week, this will be the final public issue in the mainboard segment. The Himachal Pradesh-based pharmaceutical finished dosage formulation manufacturing company will begin accepting subscriptions for its initial public offering (IPO) on December 21 and run through December 26. The pharmaceutical industry’s contract development and manufacturing organisation intends to raise Rs 570 crore through a public offering. The offer’s price range is set at Rs 426-448 per share.
Final Countdown
Inox India, a manufacturer of cryogenic storage tanks, will close its Rs 1,459-crore public offering this coming week on December 18. On December 14, subscriptions were accepted at a price range of Rs 627–660 per share. The issue has seen 7.14 times as many subscriptions in the past two days.
Inox India’s Grand Entry
On the mainboard, Inox India will make its debut on December 21, or in the T+3 timeline, while Doms Industries, a manufacturer of stationery and art products, and India Shelter Finance Corporation, a provider of affordable housing finance, are scheduled to list on the stock exchanges on December 20 and December 21, respectively.
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