IPO News: Investors who put money into IPOs have something to look forward to. The IPO season has returned to the stock market. Recently, several SME IPOs have come alongside mainboard listings.
The IPO market is expected to become more active in the coming days. According to reports, eight companies are planning to launch their IPOs by the end of June and in July.
The total expected size of these IPOs is over ₹26,000 crore. Let’s take a look at which companies are bringing their IPOs soon.
Which companies are launching IPOs?
The IPOs of HDB Financial Services, Sambhav Steel Tubes, Allenberry Industrial Gases, Kalpataru, Globe Civil Projects, NSDL, Hero Fincorp, and JSW Cement are expected by the end of June or in July.
Details of the Upcoming IPOs
HDB Financial Services:
HDB Financial Services will soon launch an IPO worth around ₹12,500 crore. This includes a fresh issue of ₹2,500 crore and an Offer for Sale (OFS) of ₹10,000 crore.
The issue might open for anchor investors on June 24, and for the public from June 25 to 27.
The price band is not final yet, but the shares are already trading at a ₹93 premium in the grey market.
Sambhav Steel Tubes:
Sambhav Steel Tubes received SEBI approval in March and is preparing to launch its ₹540 crore IPO soon.
Allenberry Industrial Gases and Kalpataru:
These two companies got SEBI’s approval in January and November last year.
Allenberry plans to raise ₹400 crore, while Kalpataru aims to raise ₹1,590 crore through their IPOs. Launch dates will be confirmed shortly.
JSW Cement:
JSW Cement received SEBI approval in January and is preparing to launch a ₹4,000 crore IPO, expected to go live in July.
Globe Civil Projects:
This IPO will open for subscription on June 24 and close on June 26. The price range has been set at ₹67 to ₹71 per share. The company plans to raise ₹200 crore.
Hero Fincorp:
Hero Fincorp raised ₹260 crore in a pre-IPO funding round and has now reduced its fresh issue size from ₹2,100 crore to ₹1,840 crore. With an OFS of ₹1,568.13 crore, the total IPO size stands at ₹3,408.13 crore.
NSDL:
NSDL’s IPO is likely to launch in July and is expected to be around ₹3,400 crore, according to Bloomberg.
A market source said, “Most of these companies are closely watching global events, especially the conflict between Israel and Iran, and the FOMC meeting results.
Once things settle, the IPO launches will gain speed.”
