Eight IPOs, 6 listings to hit Dalal Street next week
What's the story
The primary market is all set to get busy with eight initial public offerings (IPOs) lined up for the next week.
Among these, six belong to the small and medium enterprises (SME) sector. Meanwhile, the big ones are from Ajax Engineering and Hexaware Technologies.
Apart from these new issues, six companies are also gearing up for their market debut.
Ajax Engineering
Ajax Engineering's IPO set for February 10
Ajax Engineering, a top manufacturer of concrete equipment, will open its IPO for public subscription on February 10.
The company has set a price band of ₹599-629 for the issue.
The IPO is a 100% offer-for-sale (OFS) of 2.01 crore equity shares by the firm's existing shareholders, with no fresh issue component involved.
Hexaware
Hexaware Technologies to launch India's largest IT services IPO
Hexaware Technologies is gearing up to launch its ₹8,750 crore IPO with a price band of ₹674-708 per share.
The issue will be the largest ever by an Indian IT services company, surpassing Tata Consultancy Services's (TCS) ₹4,713 crore offering in 2004.
The IPO is a pure OFS, with promoter Carlyle offloading its stake and reducing it from the current 95% to 74.1%.
SME IPOs
Six SMEs to open IPOs next week
In the SME sector, six companies will open their IPOs for subscription. They are Chandan Healthcare, PS Raj Steels, Voler Car, Maxvolt Energy, LK Mehta Polymers and Shanmuga Hospital.
Chandan Healthcare is leading the pack with plans to raise ₹107 crore through its issue.
Maxvolt Energy follows closely behind with a target of raising ₹54 crore from its public offering.