Upcoming IPOs this week: Ola Electric, Rajputana Industries, and more
The primary market is preparing for a busy week starting July 29, with 10 initial public offerings (IPOs) scheduled. Among these, the much-anticipated Ola Electric IPO is set to launch on Dalal Street on August 2. The SoftBank-backed company plans to offer equity shares worth ₹5,500 crore, and an offer-for-sale (OFS) component of 8.49 crore equity shares, valuing the company at an estimated $4.4 billion.
Ola Electric's details and other entrants
Ola's IPO will close on August 6, with the anchor book launching for a day on August 1. The funds raised will be used for capacity expansion, debt repayment, research and product development, and organic growth initiatives. Infrastructure construction company Ceigall India is also set to open its IPO on August 1, while pharmaceutical company Akums Drugs and Pharmaceuticals will launch its ₹1,857 crore maiden public issue on July 30.
More companies set to enter the market
Engineering services provider Sathlokhar Synergys E&C Global, and food-grade flexible intermediate bulk container bags maker Bulkcorp International, are both set to open their public issues on July 30. Non-ferrous metal products maker Rajputana Industries and logistics company Ashapura Logistics will also launch their maiden public issues on July 30, aiming to raise ₹23.88 crore and ₹52.66 crore, respectively.
Apparel and jewelry companies join the IPO rush
Ready-to-wear clothing company Kizi Apparels is planning to raise ₹5.58 crore through its IPO, set to launch on July 30 at a price of ₹21 per share. Gold jewelry maker Utssav Cz Gold Jewels will open its ₹69.5 crore public issue on July 31. Additionally, Jodhpur-based company Dhariwalcorp, which trades in waxes, industrial chemicals, and petroleum jelly, will open subscriptions for its IPO on August 1.
Ola Electric shares and market outlook
Shares from the Ola Electric IPO will be credited to successful investors' demat accounts by August 8, with trading commencing on the BSE and NSE from August 9. The market is expected to remain positive in the coming week, influenced by factors such as the Bank of England meetings, monthly auto sales numbers, and the next set of corporate earnings.
