India's primary market prepares for new IPOs and listings
What's the story
India's primary market is bracing for a busy week with two new public issues and four new listings on the horizon.
Le Travenues Technology Ltd, the parent company of Ixigo, is set to launch its initial public offering (IPO) in the mainboard segment.
Simultaneously, United Cotfab's IPO will open for subscription in the small and medium enterprise (SME) section.
Market ranking
Emerging as second-largest IPO market globally
India has recently risen to become the second-largest IPO market in the world.
The recent election results are anticipated to maintain existing policies, further propelling the IPO boom.
"India has become the 2nd largest IPO market...the continuation of existing policies is highly expected which will fuel the IPO boom further," stated Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd.
Lunawat expressed confidence in companies with robust fundamentals drawing substantial capital from the market.
IPO details
Details of Ixigo's upcoming IPO
The Ixigo IPO will open for bidding on June 10 and close on June 12.
The issue comprises a fresh issue of 1.29 crore shares amounting to ₹120 crore, and an offer for sale of 6.67 crore shares aggregating to ₹620.10 crore, totaling ₹740.10 crore.
The upcoming IPO's price range is established between ₹88 and ₹93 per share.
Information
United Cotfab IPO bears a fixed price issue
The United Cotfab IPO will be open for subscription from June 13-19, with a fixed price issue of ₹36.29 crore, consisting solely of a fresh issue of 51.84 lakh stocks. The price band of this IPO is ₹70 per share.