Stock market buzz: 6 IPOs, 10 listings next week
The upcoming week, starting from September 2, will witness the launch of six initial public offerings (IPOs) in India. This surge in IPO activity is attributed to favorable equity market conditions and a consistent rise in domestic inflow. The lineup includes one mainboard segment IPO and five from the small and medium-sized enterprises (SME) segment. In addition to IPOs, 10 listings are set to debut next week. Here are more details about these upcoming launches.
Gala Precision Engineering to launch ₹168 crore IPO
The mainboard segment will see the launch of Maharashtra-based precision components manufacturer, Gala Precision Engineering's IPO. The company plans to open its ₹168 crore IPO on September 2, with a price band of ₹503-₹529 per share. The IPO includes fresh issuance of equity shares worth ₹135.34 crore and an offer-for-sale of 6.16 lakh shares worth ₹32.59 crore by existing shareholders including promoters. Note that September 4 will be the final day of subscription.
Jeyyam Global Foods and Naturewings Holidays to debut
In the SME segment, Jeyyam Global Foods will launch its IPO on September 2. The food company aims to raise ₹81.94 crore at the upper end of the price band of ₹59-61 per share till September 4. Following this, Kolkata-based holiday package provider Naturewings Holidays will open its subscription for three days from September 3 till September 5 with a fixed-price issue at ₹74 per share. The company aims to raise ₹7.03 crore through this issue.
Mach Conferences and Events, Namo eWaste Management to follow
Mach Conferences and Events, a firm specializing in conference management, global even planning, and exhibition management will launch its ₹125.3-crore maiden public issue on September 4 with offer closing two days later. The price band is set at ₹214-₹225 per share, targeting to raise ₹50.15 crore. Following this, New Delhi-based Namo eWaste Management will come out with its ₹51.2-crore IPO on September 4 with a price band for the book-built issue fixed at ₹80-85 per share, closing on September 6.
My Mudra Fincorp to conclude IPO launches
The final IPO from the SME segment will be from New Delhi-based My Mudra Fincorp, a firm specializing in the distribution and sales of financial products as a channel partner. The company's public issue will open on September 5 with a price band set at ₹104-110 per share. It aims to raise ₹33.26 crore at the upper price band. Bajaj Housing Finance is also set to launch its ₹6,560 crore IPO between September 9 and September 11.
