Investors eye six IPOs and five listings this week
The Indian stock market is gearing up for a busy week with six Initial Public Offerings (IPOs) and five new listings. While several companies are opening for subscription, more will get listed on the stock exchanges in the upcoming week. Investors are eagerly anticipating the IPOs of RR Kabel, Zaggle Prepaid Ocean Services, Samhi Hotels, Chavda Infra, Cellecor Gadgets, and Kundan Edifice. The new listings include Rishabh Instruments, Ratnaveer Precision Engineering, Saroja Pharma Industries, Basilic Fly Studio, and Pramara Promotions.
FY2023 looks promising for primary markets
Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd., has stated that the primary market looks promising for the remaining fiscal year 2023. He noted that a strong pipeline of over $9 billion has been approved by the capital markets regulator Securities and Exchange Board of India (SEBI), with another $6 billion filed with the watchdog. Foreign Portfolio Investors (FPIs) have invested over $2,100 million into IPOs from April to August 2023.
RR Kabel IPO to open for subscription on September 13
Consumer electrical product maker RR Kabel's public issue will open for subscription on September 13. The IPO will close on September 15. The IPO consists of a fresh issue of equity shares worth Rs. 180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth Rs. 1,784 crore by promoters and investors. The price band is set at Rs. 983-Rs. 1,035 per share, aiming to raise Rs. 1,964 crore at the upper end.
Overview of more upcoming IPOs
Goldman Sachs-backed Samhi Hotels will open for subscription on September 14, concluding on September 18. The IPO comprises equity shares worth Rs. 1,200 crore and an OFS of 1.35 crore equity shares by shareholders. Kundan Edifice's IPO, in the SME segment, opens on September 12. SaaS fintech Zaggle Prepaid Ocean Services's IPO will open on September 14. Chavda Infra's IPO opens on September 12 and Cellecor Gadgets's IPO is set to open on September 15.
