Last week, two SME IPOs — Kay Cee Energy and Infra and Kaushalya Logistics Limited — closed for subscription.
Nevertheless, analysts anticipate that the public offering by Jyoti CNC Automation will mark the commencement of a potentially active period in the initial share sale market. This momentum is expected to persist for a few months before a temporary hiatus coinciding with general elections.
“CY2023 turned out to be an eventful year for the Indian primary market. Although the start to the year was a bit bumpy, a lift in secondary market sentiments resulted in a pick-up in fund raising activity from Q2CY23 onwards. Market is likely to gain further momentum as more companies are now queuing up, the estimated raise is a cumulative amount of at least ₹1 lakh crore, which is more than double the amount raised in 2023. Reports suggest that, as on date, as many as 28 companies have already received a green signal from SEBI for their IPOs, aimed at raising over ₹30,000 crore. Meanwhile, 36 other companies have submitted their draft red herring prospectuses (DRHP) with SEBI for approval. These companies plan to raise a cumulative amount of ₹50,000 crore,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
According to multiple sources, Sebi has granted approval to 28 companies for their initial public offerings (IPOs), with the collective fundraising target exceeding ₹30,000 crore. Concurrently, 36 additional companies have submitted their draft IPO documents and are currently awaiting regulatory approval.
Also read: MobiKwik IPO: 7 crucial things to know from DRHP
The estimated fundraising for the current year is expected to surpass ₹1 lakh crore, marking a significant increase compared to the amount raised in 2023, more than doubling the figures.
IPOs next week –
- Jyoti CNC Automation IPO
The initial public offering (IPO) of Jyoti CNC Automation Ltd is going to hit the primary market on 9th January and will close on January 11.
Also read: Jyoti CNC Automation IPO opens next week. GMP, price, other details of upcoming IPO
The CNC machines maker company has fixed the Jyoti CNC Automation IPO price band at ₹315 to ₹331 per equity share. The company aims to raise ₹1,000 crore via the issuance of fresh shares.
Link Intime India Private Limited has been appointed as the official registrar of the Jyoti CNC Automation IPO.
2. IBL Finance Limited IPO
IBL Finance IPO opens for subscription on January 9, 2024 and closes on January 11, 2024.
Also read: IBL Finance IPO sets price band at ₹51 apiece: check GMP, key dates, issue details, more
The IPO price is ₹51 per share. The minimum lot size for an application is 2000 shares. It is a fixed price issue of ₹33.41 crores and is entirely a fresh issue of 65.5 lakh shares.
Fedex Securities Pvt Ltd is the book running lead manager of the IBL Finance IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for IBL Finance IPO is Market-Hub Stock Broking.
3. New Swan Multitech IPO
New Swan Multitech IPO opens for subscription on January 11, 2024 and closes on January 15, 2024. It is a book built issue of ₹33.11 crores and is entirely a fresh issue of 50.16 lakh shares.
Also read: New Swan Multitech IPO opens next week, price band set at ₹62-66 apiece
The company has set the IPO price band at ₹62 to ₹66 per share. The minimum lot size for an application is 2000 shares.
Hem Securities Limited and Share India Capital Services Private Limited are the book running lead managers of the New Swan Multitech IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
4. Australian Premium Solar IPO
Australian Premium Solar (India) IPO opens for subscription on January 11, 2024 and closes on January 15, 2024. It is a book-built issue of ₹28.08 crores and is entirely a fresh issue of 52 lakh shares.
The company has set the IPO price band at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 shares.
Also read: Australian Premium Solar IPO price band out. GMP, date, other details of upcoming NSE SME IPO
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Australian Premium Solar (India) IPO, while Link Intime India Private Ltd is the registrar for the issue.
New listings –
Kaushalya Logistics IPO – The IPO will be listed on NSE SME on January 8, 2024. The bidding started from December 29, 2023 and ended on January 3, 2024
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Published: 07 Jan 2024, 10:26 AM IST