The primary market is likely to remain in action next week as positive momentum is seen in the secondary market where the Nifty 50 hit a record high last week.
Around six new initial public offerings (IPO), including three in the motherboard space and three small and medium enterprises (SMEs), will be launched on Dalal Street in the coming week.
Also Read: OpenAI CEO Sam Altman Set to Score Huge with Reddit IPO
“The Indian IPO market continues to be dynamic, driven by, among other things, political stability, optimistic investor sentiment, a robust economy and the expectation of lower inflation and interest rate cuts in 2024. This positive environment is likely to boost the number of public offerings in the coming years,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
Last week, two mainboard IPOs, Juniper Hotels Limited and GPT Healthcare Limited, opened with the aim of raising ₹2,325 crores. Motherboard IPOs from Platinum Industries, Exicom Tele-Systems and Bharat Highways Infrastructure Investment Trust are expected to go public in the following weeks to raise funds ₹3,164 crores.
Here is a list of IPOs that will remain open for subscriptions next week:
Platinum Industries IPO
The Platinum Industries IPO is open for subscription on February 27, 2024 and closes on February 29, 2024. The IPO is a book edition of ₹235.32 crores. The issue is entirely a fresh issue of shares worth ₹1.38 crore.
Also Read: Platinum Industries IPO begins next week. GMP, valuation, size, more details about the upcoming IPO
The price range for Platinum Industries' IPO is ₹162 to ₹171 per share. Unistone Capital Pvt Ltd is the book running lead manager of the IPO of Platinum Industries while Bigshare Services Pvt Ltd is the registrar for the issue.
IPO of Exicom Tele-Systems
The Exicom Tele-Systems IPO is open for subscription on February 27, 2024 and closes on February 29, 2024. The IPO is a book edition of ₹429.00 crores. The issue is a combination of fresh issues of shares totaling ₹2.32 crore ₹329 crores and offer for sale of 0.7 crore equity shares with a total value of ₹100 crores.
Also Read: Exicom Tele Systems IPO begins soon. GMP, date, price, valuation, more details about the upcoming IPO
The price range for the IPO of Exicom Tele-Systems is at ₹135 tonnes ₹142 per share. Monarch Networth Capital Ltd, Unistone Capital Pvt Ltd and Systematix Corporate Services Limited are the lead managers of the IPO of Exicom Tele-Systems while Link Intime India Private Ltd is the registrar for the issue.
IPO of Bharat Highways InvIT
The IPO of Bharat Highways InvIT is open for subscription on February 28, 2024 and closes on March 1, 2024. It is a book edition of ₹2,500 crore and is entirely a fresh issue of 25 crore shares.
Also Read: Bharat Highways Invit IPO: Check Date, Size & Important Other Details
The price range for the IPO of Bharat Highways InvIT is at ₹98 to ₹100 per share. ICICI Securities Limited, Axis Bank Limited, Hdfc Bank Limited and Iifl Securities Ltd are the underwriters of the Bharat Highways InvIT IPO while Kfin Technologies Limited is the registrar for the issue.
Owais Metal and Mineral Processing IPO
The Owais Metal and Mineral Processing IPO is open for subscription on February 26, 2024 and closes on February 28, 2024. The SME IPO is a book edition of ₹42.69 Crores and is a pure fresh issue of shares worth ₹49.07 lakh.
Also Read: Owais Metal and Mineral Processing IPO: Check date, price range and other important details
The price range for the IPO of Owais Metal and Mineral Processing is at ₹83 to ₹87 per share. Gretex Corporate Services Limited is the book running lead manager of the IPO of Owais Metal and Mineral Processing while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the Owais Metal and Mineral Processing IPO is Gretex Share Broking.
IPO of Purv Flexipack
The Purv Flexipack IPO is open for subscription on February 27, 2024 and closes on February 29, 2024. The SME IPO is a book edition of ₹40.21 crores and is a pure fresh issue of shares worth ₹56.64 lakh.
Also Read: Purv Flexipack IPO: Price Range, Issue Size, GMP, Important Details You Should Know
The IPO price range for Purv Flexipack is at ₹70 tonnes ₹71 per share. Holani Consultants Private Limited is the book running lead manager of the Purv Flexipack IPO while Link Intime India Private Ltd is the registrar for the issue. The market maker for Purv Flexipack's IPO is Holani Consultants.
IPO of MVK Agro Food
The MVK Agro Food IPO is open for subscription on February 29, 2024 and closes on March 4, 2024. The SME IPO is a fixed price issue of ₹65.88 crores and is a pure fresh issue of shares worth ₹54.9 lakh.
The IPO price of MVK Agro Food is ₹120 per share. Horizon Management Private Limited is the book running lead manager of the IPO of MVK Agro Food while Mas Services Limited is the registrar for the issue.
GPT Healthcare IPO
The GPT Healthcare IPO offering opened for subscription on February 22, 2024 and closes on February 26, 2024. It is a book edition of ₹525.14 crores. The issue will be a combination of fresh issues of shares totaling ₹0.22 crore ₹40 crore and offer for sale of 2.61 crore shares with a total value of ₹485.14 crores.
Also Read: GPT Healthcare IPO: GMP, Subscription Status Verification. Apply or not?
The price range for GPT Healthcare's IPO is at ₹177 to ₹186 per share. Jm Financial Limited is the book running lead manager of the IPO of GPT Healthcare while Link Intime India Private Ltd is the registrar for the issue.
Sadhav Shipping IPO
The IPO bid for Sadhav Shipping opened for subscription on February 23, 2024 and closes on February 27, 2024. It is a fixed price issue of ₹38.18 crores and is entirely a fresh issue of 40.19 lakh shares.
Also Read: Sadhav Shipping IPO Day 1: Check subscription status, GMP and other important details
The IPO price of Sadhav Shipping is ₹95 per share. Isk Advisors Pvt Ltd is the book running lead manager of the IPO of Sadhav Shipping while Maashitla Securities Private Limited is the registrar for the issue.
New entries –
Juniper Hotels IPO: Allotment for Juniper Hotels' IPO is expected to close on Monday, February 26, 2024. The shares will be listed on the BSE and NSE with the provisional listing date being Wednesday, February 28, 2024.
GPT Healthcare IPO: Allotment for GPT Healthcare's IPO is expected to close on Tuesday, February 27, 2024. The IPO will be listed on the BSE and NSE with the tentative IPO set for Thursday, February 29, 2024.
Zenith Drugs IPO: The allotment for the IPO of Zenith Drugs was completed on Friday, February 23, 2024. The shares will be listed on the NSE SME with the provisional listing date set for Tuesday, February 27, 2024.
Deem Roll Tech IPO: Allotment for Deem Roll Tech's IPO was completed on Friday, February 23, 2024. Deem Roll Tech IPO will be listed on NSE SME. The tentative listing date is Tuesday, February 27, 2024.
Sadhav Shipping IPO: The allotment for Sadhav Shipping's IPO is expected to be completed on Wednesday, February 28, 2024. The IPO will be listed on the NSE SME with the preliminary IPO set for Friday, March 1, 2024.
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