IPOs Next Week: IRM Energy IPO to WomanCart IPO; 3 new issues, 1 listing ahead for primary market

The primary market is witnessing a strong recovery in the second week of October, with a number of new IPOs and listings scheduled. This comes after a brief lull in September, when only a handful of companies went public.

Here is a look at the key IPOs and listings scheduled for the week ahead:

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IPOs

  • IRM Energy IPO
    • Open for subscription: October 18-20
    • Price band: ₹480-505 per share
    • Issue size: ₹545.40 crore
  • WomanCart IPO
    • Open for subscription: October 16-18
    • Issue price: ₹86 per share
    • Issue size: ₹9.56 crore
  • Rajgor Castor Derivatives IPO
    • Open for subscription: October 17-20
    • Price band: ₹480-505 per share
    • Issue size: ₹47.81 crore

IPO Subscription Status

Arvind And Company Shipping SME IPO Subscription Status

  • Subscription status: 41.33 times
  • Retail investor subscription: 59.48 times
  • Non-institutional buyer subscription: 19.15 times

Listing

  • Committed Cargo Care
    • Listing date: October 18
    • Exchange: NSE SME

IRM Energy IPO

IRM Energy is a leading renewable energy company that provides solar and wind energy solutions. The company has a strong track record of profitability and growth, and is well-positioned to benefit from the increasing demand for renewable energy in India.

The IRM Energy IPO is a book built issue of ₹545.40 crore, with the price band set at ₹480-505 per share. The issue is entirely a fresh issue of 1.08 crore shares. The proceeds from the IPO will be used to repay debt, fund capital expenditure, and for general corporate purposes.

WomanCart IPO

WomanCart is an e-commerce platform that caters exclusively to women’s needs. The company offers a wide range of products, including clothing, accessories, beauty products, and homeware. WomanCart is targeting a fast-growing market, and is well-positioned to capitalize on the increasing disposable incomes of Indian women.

The WomanCart IPO is a fixed price issue of ₹9.56 crore, with the issue price set at ₹86 per share. The issue is entirely a fresh issue of 11.12 lakh shares. The proceeds from the IPO will be used to fund working capital requirements and for general corporate purposes.

Rajgor Castor Derivatives IPO

Rajgor Castor Derivatives is a leading producer of castor oil and derivatives. The company has a strong presence in both domestic and international markets. Rajgor Castor Derivatives is targeting to expand its production capacity and increase its market share in the coming years.

The Rajgor Castor Derivatives IPO is a book built issue of ₹47.81 crore, with the price band set at ₹480-505 per share. The issue is a combination of fresh issue of 88.95 lakh shares aggregating to ₹44.48 crores and offer for sale of 6.66 lakh shares aggregating to ₹3.33 crore. The proceeds from the IPO will be used to fund capital expenditure and for general corporate purposes.

Committed Cargo Care listing

Committed Cargo Care is a leading integrated logistics company that provides a wide range of services, including transportation, warehousing, and customs clearance. The company has a strong presence in the domestic market, and is planning to expand its operations internationally.

Committed Cargo Care’s shares will be listed on the NSE SME platform on October 18, 2023.

Investment outlook

The Indian primary market is witnessing a strong resurgence in 2023, with a number of new IPOs and listings scheduled. This is a positive sign for the Indian economy, and indicates that investor confidence is returning.

The three IPOs scheduled for the week ahead are all from different sectors, and offer investors a variety of investment options. IRM Energy is a leading renewable energy company, WomanCart is an e-commerce platform that caters exclusively to women’s needs, and Rajgor Castor Derivatives is a leading producer of castor oil and derivatives.

All three companies have strong track records of profitability and growth, and are well-positioned to benefit from the increasing demand for their products and services. Investors who are looking to invest in high-growth companies with strong fundamentals should consider these IPOs.

However, it is important to note that all IPOs carry a certain degree of risk. Investors should carefully consider the company’s financial performance, business prospects, and management team before investing in any IPO.

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