IPO boom: India prepares for 3 new subscriptions, 11 listings
India's thriving macroeconomic landscape and promising growth outlook, are paving the way for an active initial public offering (IPO) market next week. Three IPOs, including Emcure Pharmaceuticals, Bansal Wire, and Ambey Laboratories, will open for subscription. Additionally, Dalal Street is set to welcome 11 new listings. This surge in activity comes as the stock market witnesses a revival with Nifty and Sensex reaching all-time highs.
Emcure Pharmaceuticals and Bansal Wire set dates
Emcure Pharmaceuticals, where Namita Thapar of Shark Tank India serves as Executive Director, and Bansal Wire are set to open their subscriptions in the mainboard segment. The Pune-based pharmaceutical company will launch its maiden public issue on July 3, closing on July 5. Similarly, Bansal Wire's IPO will also open for subscription on July 3 and close on July 5. These companies aim to raise over ₹2,700 crore through their IPOs.
Pricing and offer for upcoming IPOs
Emcure Pharmaceuticals has set a price band of ₹960 to ₹1,008 per stock for its ₹1,952-crore IPO. The issue comprises fresh issuance of equity shares worth ₹800 crore, and an offer-for-sale (OFS) component of 1.14 crore equity shares by existing shareholders. Bansal Wire aims to raise around ₹745 crore with a price band of ₹243-256 per stock.
Ambey Laboratories joins race, Hyundai plans massive IPO
Ambey Laboratories is set to open its ₹45 crore IPO for subscription on July 4 and close on July 8. The issue comprises a fresh equity sale of 62.5 lakh stocks, and an offer for sale (OFS) of 3.12 lakh shares. Meanwhile, Hyundai Motor India, the country's second-largest carmaker, is planning a colossal $3 billion IPO this year, which would be the largest in India's history.
