Despite no new launches, five IPOs that hit the Street last week will likely see their shares getting listed. Among these, Tata Technologies, with a soaring GMP of over Rs 400, is generating a lot of interest among investors and analysts alike on the potential bumper debut.
Considering the upper price band of Rs 500, the stock is expected to list at a premium of over 80% as compared to the issue price.
After a successful IPO, the shares of IREDA will list on the exchanges on Tuesday. The company’s shares are fetching a premium of Rs 12 in the unlisted market, which indicates a listing gain of 37% if the trends sustain.
Three other companies — Fedbank Financial, Gandhar Oil and Flair Writing — are also seeing decent demand for the shares in the grey market, signalling a positive listing.
5 SME IPOs on offer
Meanwhile, the SME segment, which too has seen a lot of activity this year, will see five public issues getting launched.The biggest of the week will be Graphisads Ltd, which plans to raise about Rs 53.4 crore, followed by AMIC Forging and Deepak Chemtex, whose public offers are worth Rs 34.8 crore and Rs 23.04 crore, respectively.
The other two SME IPOs are from Marinetrans India and Net Avenue Technologies.
The public offer of Graphisads India, which is completely a fresh issue of 48.1 lakh shares, will open for subscription on November 30 and close on December 5.
Two other IPOs of Net Avenue Technologies and Marinetrans India will also kick-off from November 30. Net Avenues’s issue comprises fresh issue of 56.96 lakh shares and Marinetrans India’s offer includes equity issue of 42 lakh shares.
Meanwhile, the public offers of Deepak Chemtex and AMOC Forging will open on November 29 and close on December 01.
“The huge appetite for equities stems from the confidence that investors have in the India growth story and the large universe of fast-growing, well-managed companies, which expected to deliver good profits,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors
Going forward, the pipeline for public issues is equally strong with 77 DRHPs filed, 29 of which are approved while the rest await approval.