Six Prominent Firms, Including Tata Tech and IREDA, Set to Ignite Indian IPO Market, Aiming for Rs 7,400 Crore

The Indian primary market is gearing up for an exciting week beginning November 20, as six prominent companies are set to go public with initial public offerings (IPOs) collectively aiming to raise approximately Rs 7,400 crore. Among these, Tata Technologies and the Indian Renewable Energy Development Agency (IREDA) are grabbing headlines as they prepare to enter the market.

Indian Renewable Energy Development Agency IPO (IREDA)

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IREDA, a government-owned Mini Ratna enterprise, will lead the pack with its IPO opening for subscription on November 21 and closing on November 23. The offer price has been fixed at a range of Rs 30-32 per share. IREDA intends to raise a total of Rs 2,150.21 crore by offering 67.19 crore equity shares to the public.

The IPO comprises a fresh issue of 40.31 crore equity shares worth Rs 1,290.13 crore by the company, along with an offer-for-sale (OFS) of 26.87 crore shares worth Rs 860.08 crore by the government. The anchor book for IREDA’s IPO will be opened for a day on November 20.

Tata Technologies IPO

Pune-based Tata Technologies, a global engineering services company, is all set to open its maiden issue on November 22, with a price band of Rs 475-500 per share. This IPO marks a significant event as it is the first IPO from the Tata Group since TCS went public in 2004. The company aims to raise Rs 3,042.51 crore exclusively through an offer-for-sale (OFS). Promoter Tata Motors and investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I will be the selling shareholders in the OFS.

Also Read: How to Apply for Tata Technologies IPO

Gandhar Oil Refinery India IPO

Mumbai-based Gandhar Oil Refinery India, specializing in white oils production for consumer and healthcare industries, will launch its IPO from November 22 to 24. The price band for the offering is set at Rs 160-169 per share. The company plans to raise Rs 500.69 crore through the IPO, consisting of a fresh issuance of shares worth Rs 302 crore and an OFS of 1.17 crore equity shares worth Rs 198.69 crore. The selling shareholders, including promoters Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh, will be exiting the company through the OFS.

Fedbank Financial Services IPO

The bidding for the Fedbank Financial Services IPO will commence on November 22 and conclude on November 24. This non-banking finance company (NBFC) backed by the Federal Bank and True North Fund is aiming to raise Rs 1,092.26 crore through the issue, with a price band of Rs 133-140 per share. The IPO comprises a fresh issuance of shares worth Rs 600 crore and an offer-for-sale (OFS) of 3.5 crore equity shares worth Rs 492.26 crore by the selling shareholders, including promoter The Federal Bank and investor True North Fund VI LLP.

Flair Writing Industries IPO

Mumbai-based stationery products manufacturer, Flair Writing Industries, will accept bids for its IPO from November 22 to 24, with a price band set at Rs 288-304 per share. The company intends to raise Rs 593 crore through the IPO, comprising fresh shares worth Rs 292 crore and an OFS of Rs 301 crore by the Rathod family.

Also Read: Flair Writing IPO GMP

Rocking Deals Circular Economy IPO

In the SME segment, B2B re-commerce player Rocking Deals Circular Economy will launch its IPO for subscription on November 22, with a price band of Rs 136-140 per share. The IPO will close on November 24, with the company seeking to raise Rs 21 crore via a fresh issue.

Additionally, Arrowhead Separation Engineering’s IPO, a dryers manufacturer, will close on November 20, after seeing strong investor interest.

Sunrest Lifescience, a healthcare and personal care products supplier, is scheduled to list its equity shares on the NSE Emerge on November 20, following robust investor response during its IPO from November 7-9.

Investors are advised to exercise due diligence and consult with certified experts before making any investment decisions.

Source: Moneycontrol

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