IPOs This Week: 12 Companies to Raise Over Rs 4,600 Crore in Funds as IPO Frenzy Continues

In a testament to the buoyant optimism on Dalal Street, the Indian stock market is set to witness a flurry of fundraising activity as 12 companies gear up to launch their initial public offerings (IPOs) starting from December 18. This comes on the heels of nearly Rs 4,000 crore worth of IPOs launched in the previous week, which ended on December 15.

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The enthusiasm in the market is attributed to various factors, including robust economic growth, the continuity of favorable policies following recent state election results, anticipated monetary easing by central banks in the coming year, stable oil prices, expectations of robust earnings growth, and strong domestic investment inflows.

With these upcoming IPOs, the total amount raised by 239 companies in the current calendar year is expected to reach Rs 57,720 crore, including offerings from small and medium-sized enterprises (SMEs). While this falls slightly short of the Rs 61,900 crore raised through 150 IPOs in the previous year, market experts remain optimistic about the trend.

Also Read: IPO Weekly Wrap: DOMS, India Shelter Finance, Inox, and 8 SME Issues in Market Spotlight

Sonam Srivastava, the founder and fund manager at Wright Research PMS, noted, “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.”

Here’s a glimpse of the key IPOs set to hit the market in the coming week:

1. Muthoot Microfin IPO: The microfinance institution is launching its IPO on December 18, aiming to raise Rs 960 crore with a price band of Rs 277-291 per share. The subscription period will close on December 20. (Check GMP)

2. Motisons Jewellers IPO: Jaipur-based Motisons Jewellers will open its Rs 151-crore IPO from December 18 to December 20, with a price band of Rs 52-55 per share. (Check GMP)

3. Suraj Estate Developers IPO: The Mumbai-based real estate developer will also launch its IPO during December 18-20, with a total offering size of Rs 400 crore and a price band of Rs 340-360 per share. (Check GMP)

4. Happy Forgings IPO: Punjab-based Happy Forgings will open its Rs 1,009-crore public issue for subscription from December 19 to December 21, with a price band of Rs 808-850 per share. (Check GMP)

5. RBZ Jewellers IPO: The antique bridal gold jewelry maker will commence its IPO from December 19 to December 21, with a price band of Rs 95-100 crore. (Check GMP)

6. Credo Brands Marketing IPO: The Mufti Jeans brand owner from Mumbai plans to raise Rs 549.78 crore through its IPO, with a price band of Rs 266-280 per share, during December 19-21.

7. Azad Engineering IPO: The Telangana-based company, specializing in products for global original equipment manufacturers, will open its Rs 740-crore IPO on December 20, with a price band of Rs 499-524 per equity share.

8. Innova Captab IPO: This pharmaceutical finished dosage formulation manufacturing company based in Himachal Pradesh will begin its subscription period on December 21 and continue until December 26. Innova Captab aims to raise Rs 570 crore through its IPO, with a price band of Rs 426-448 per share. (Check GMP)

Additionally, Inox India‘s Rs 1,459-crore public issue, which opened for subscription on December 14, will close on December 18.

In the SME segment, four companies are preparing to launch their maiden public issues, further contributing to the vibrant IPO landscape.

The week will also see several listings, with Doms Industries and India Shelter Finance Corporation set to list on the mainboard on December 20, while Inox India will debut on December 21.

In the SME segment, Presstonic Engineering and S J Logistics (India) will make their NSE Emerge debut on December 18 and December 19, respectively. Shree OSFM E-Mobility will list its shares on December 21, and Siyaram Recycling Industries and Benchmark Computer Solutions will commence trading on the BSE SME on December 21.

Disclaimer: The views and investment tips mentioned are for informational purposes only and should not be considered as financial advice. Investors are urged to conduct their own research before making any investment decisions.

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