The primary market is set to regain momentum after a quiet period during the Lok Sabha elections, with nine initial public offerings (IPOs) scheduled to open next week alongside one new listing.
According to Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd., approximately 24 companies are preparing to raise over ₹30,000 crore collectively through IPOs in the coming months.
Last week, the Ixigo IPO received a positive response from investors, raising ₹740.10 crore at the upper price band. The resurgence in IPO activity follows India’s emergence as the world’s second-largest IPO market, driven by increased investor confidence post-elections and the return of the Modi government.
Here is a detailed list of IPOs scheduled to open for subscription next week:
- DEE Piping Systems IPO:
- Opening: June 19, 2024
- Closing: June 21, 2024
- Issue Size: ₹418.01 crores
- Details: Book-built issue consisting of a fresh issue of 1.6 crore shares totaling ₹325 crores and an offer for sale of 0.46 crore shares amounting to ₹93.01 crores. Price band: ₹193 to ₹203 per share. Lead managers: SBI Capital Markets Limited, Equirus Capital Private Limited. Registrar: Link Intime India Private Ltd.
- Aasaan Loans IPO:
- Opening: June 19, 2024
- Closing: June 21, 2024
- Issue Size: ₹132 crores
- Details: Book-built issue of 1.1 crore fresh shares. Price band: ₹114 to ₹120 per share. Lead manager: Gretex Corporate Services Limited. Registrar: Bigshare Services Pvt Ltd.
- Stanley Lifestyles IPO:
- Opening: June 21, 2024
- Closing: June 25, 2024
- Issue Size: ₹537.02 crores
- Details: Book-built issue comprising a fresh issue of 0.54 crore shares totaling ₹200 crores and an offer for sale of 0.91 crore shares amounting to ₹337.02 crores. Price band: ₹351 to ₹369 per share. Lead managers: Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, SBI Capital Markets Limited. Registrar: Kfin Technologies Limited.
- GEM Enviro IPO:
- Opening: June 19, 2024
- Closing: June 21, 2024
- Issue Size: ₹44.93 crores
- Details: Book-built issue consisting of a fresh issue of 14.98 lakh shares amounting to ₹11.23 crores and an offer for sale of 44.93 lakh shares totaling ₹33.70 crores. Price band: ₹71 to ₹75 per share. Lead managers: Share India Capital Services Private Limited, Fintellectual Corporate Advisors Private Limited. Registrar: Skyline Financial Services Private Ltd.
- Durlax Top Surface IPO:
- Opening: June 19, 2024
- Closing: June 21, 2024
- Issue Size: ₹40.80 crores
- Details: Book-built issue comprising a fresh issue of 42 lakh shares totaling ₹28.56 crores and an offer for sale of 18 lakh shares amounting to ₹12.24 crores. Price band: ₹65 to ₹68 per share. Lead manager: Expert Global Consultants Private Limited. Registrar: Bigshare Services Pvt Ltd.
- Falcon Technoprojects India IPO:
- Opening: June 19, 2024
- Closing: June 21, 2024
- Issue Size: ₹13.69 crores
- Details: Fixed price issue of 14.88 lakh fresh shares at ₹92 per share. Lead manager: Kunvarji Finstock Pvt Ltd. Registrar: Kfin Technologies Limited.
- EnNutrica IPO:
- Opening: June 20, 2024
- Closing: June 24, 2024
- Issue Size: ₹34.83 crores
- Details: Book-built issue of 64.5 lakh fresh shares. Price band: ₹51 to ₹54 per share. Lead manager: Beeline Capital Advisors Pvt Ltd. Registrar: Link Intime India Private Ltd.
- Winny Immigration IPO:
- Opening: June 20, 2024
- Closing: June 24, 2024
- Issue Size: ₹9.13 crores
- Details: Fixed price issue of 6.52 lakh fresh shares at ₹140 per share. Lead manager: Interactive Financial Services Ltd. Registrar: Bigshare Services Pvt Ltd.
- Medicamen Organics IPO:
- Opening: June 21, 2024
- Closing: June 25, 2024
- Issue Size: ₹10.54 crores
- Details: Book-built issue consisting entirely of a fresh issue of 31 lakh shares. Price band: ₹32 to ₹34 per share. Lead manager: GYR Capital Advisors Private Limited. Registrar: Kfin Technologies Limited.
Investors and market observers are closely watching these offerings, anticipating robust participation amid renewed market activity and investor optimism in post-election India.
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