The Indian stock market is gearing up for an eventful week, with several Initial Public Offerings (IPOs) set to launch in both the mainboard and SME segments. As we enter the fourth week of October 2024, four major public issues will open for subscription, alongside multiple listings on the NSE and BSE. Here’s a detailed look at the upcoming IPOs expected to capture investor interest this week:
Upcoming IPOs
Waaree Energies IPO
- Subscription Dates: October 21 to October 23, 2024
- IPO Size: ₹4,321.44 crore
- Breakdown:
- Fresh issue: 2.4 crore shares aimed at raising ₹3,600 crore
- Offer for Sale (OFS): 0.48 crore shares, generating an additional ₹721.44 crore
- Price Band: ₹1,427 to ₹1,503 per share
- Book-Running Lead Managers: Axis Capital Limited, IIFL Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Ltd
- Registrar: Link Intime India Private Ltd
Deepak Builders & Engineers IPO
- Subscription Dates: October 21 to October 23, 2024
- IPO Size: ₹260.04 crore
- Breakdown:
- Fresh issue: 1.07 crore shares valued at ₹217.21 crore
- OFS: 0.21 crore shares, bringing in ₹42.83 crore
- Price Band: ₹192 to ₹203 per share
- Manager: Fedex Securities Pvt Ltd
- Registrar: Kfin Technologies Limited
Godavari Biorefineries IPO
- Subscription Dates: October 23 to October 25, 2024
- IPO Size: ₹554.75 crore
- Breakdown:
- Fresh issue: 0.92 crore shares valued at ₹325 crore
- OFS: 0.65 crore shares, generating ₹229.75 crore
- Price Band: ₹334 to ₹352 per share
- Lead Managers: Equirus Capital Private Limited and SBI Capital Markets Limited
- Registrar: Link Intime India Private Ltd
Afcons Infrastructure IPO
- Subscription Dates: October 25 to October 29, 2024
- IPO Size: ₹5,430 crore
- Breakdown:
- Fresh issue: ₹1,250 crore
- OFS: ₹4,180 crore
- Lead Managers: ICICI Securities Limited, Dam Capital Advisors Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and SBI Capital Markets Limited
- Registrar: Link Intime India Private Ltd
Notable SME IPOs
- Premium Plast IPO (October 21-23, 2024): ₹26.20 crore, entirely fresh issue of 53.46 lakh shares. Price band: ₹46 to ₹49.
- Danish Power IPO (October 22-24, 2024): ₹197.90 crore, fresh issue of 52.08 lakh shares. Price band: ₹360 to ₹380.
- United Heat Transfer IPO (October 22-24, 2024): ₹30 crore, price band: ₹56 to ₹59.
- OBSC Perfection IPO (October 22-24, 2024): ₹66.02 crore, entirely fresh issue. Price band: ₹95 to ₹100.
- Usha Financial Services IPO (October 24-28, 2024): ₹98.45 crore, price band: ₹160 to ₹168.
Upcoming IPO Listings
Next week will also see several new IPO listings, including Hyundai Motor India, which is set to debut on October 22, 2024. Lakshya Powertech and Freshara Agro Exports will follow with their listings on October 23 and 24, respectively.
Market Outlook
The current surge in IPO activity can be attributed to favorable market conditions and increased liquidity, mainly driven by domestic investors. While Foreign Institutional Investors (FIIs) have been offloading shares, Domestic Institutional Investors (DIIs) continue to absorb this selling pressure, providing ample liquidity for upcoming IPOs. The optimism surrounding high-profile offerings like Waaree Energies and Afcons Infrastructure is evident, although investors are advised to approach with caution due to recent market volatility.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The content presented herein is based on publicly available information and should not be relied upon as a basis for investment decisions. Investing in IPOs and the stock market involves risks, and past performance is not indicative of future results. Readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. The author and publisher of this article assume no responsibility for any losses or damages incurred as a result of reliance on this information.
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