These companies will be listed on stock market next week
The primary market is poised for a pause with no new initial public offerings (IPOs) lined up for the next week. However, despite the break, the Diwali week will see eight listings including those of Waaree Energies and Deepak Builders. The IPO pipeline continues to be strong with 26 firms intending to raise ₹72,000 crore, awaiting approval from the Securities and Exchange Board of India (SEBI).
More companies await SEBI's approval for IPOs
An additional 55 companies are waiting for SEBI's nod to raise about ₹89,000 crore. Fundraising for this fiscal year is around ₹1 lakh crore and is expected to break records by the end of March 2025. Waaree Energies's IPO has received huge investor interest with an overall subscription of 76 times at close, breaking records with 97 lakh applications.
Waaree Energies's shares indicate significant gains
In the unlisted market, Waaree Energies's stocks are trading with a near 100% GMP over the issue price, signaling huge gains in its October 28 debut. The company intends to use the money raised from the IPO for key initiatives, such as setting up a 6GW manufacturing facility in Odisha and for general corporate purposes. As of June 2024, it is India's largest solar PV modules manufacturer with an aggregate installed capacity of 12GW.
Deepak Builders's IPO also attracts investor interest
Deepak Builders's IPO has also drawn investor attention with an overall subscription of 41.5 times at close. The company's shares are trading at a GMP of ₹32 in the gray market, reflecting a 16% premium over the issue price. The money raised through the IPO will be utilized for the company's working capital requirements, debt repayment, and for general corporate purposes.
