The primary market remains active despite the ongoing general elections, with upcoming initial public offerings (IPOs) generating significant interest. Despite market uncertainties, momentum is expected to persist in the coming week.
Growing IPO Market in 2024
The IPO market has shown steady growth and success in 2024, with 30 IPOs already listed in the mainboard segment by May.
Additionally, there has been considerable enthusiasm for small and medium-sized firm (SME) IPOs, with around 100 SME IPOs listed by May 2024.
Factors Driving IPO Surge
Analysts attribute the surge in IPOs to India’s robust economic growth, rising stock prices, and corporations consistently outperforming profit estimates.
This favorable environment has led to significant growth in the IPO market, with companies like Tata Capital, Hexaware, Ola Electric, and Swiggy preparing for their public debuts.
Upcoming IPOs in June
Three IPOs are set to open for subscription in the first week of June. Kronox Lab Sciences’ IPO will open in the mainboard segment, while Sattrix Information Security and Magenta Lifecare IPOs will open in the SME section.
Anticipated IPOs in the Future
Looking ahead, a wave of IPOs is expected from both new-age businesses and traditional sectors.
Factors such as increased domestic capital, improved governance practices, and supportive government policies are contributing to market confidence post-elections.
Exciting IPO Details
Here’s a glimpse of the IPOs scheduled for the first week of June:
Mainboard IPO – Kronox Lab Sciences IPO
The subscription period for Kronox Lab Sciences IPO is from June 3 to June 5, with a price band of ₹129 to ₹136 per equity share. The IPO’s estimated value at the upper price band is ₹130.15 crore.
SME IPOs – Sattrix Information Security IPO and Magenta Lifecare IPO
Sattrix Information Security IPO subscription will be open from June 5 to June 7, with a price band of ₹121 per share. Magenta Lifecare IPO will also open for subscription from June 5 to June 7, with a price band of ₹35 per share.
Exciting SME IPO Listings
Shares of Vilas Transcore IPO will list on NSE SME on June 3. On June 4, Ztech India IPO and Beacon Trusteeship IPO will debut.
Additionally, Associated Coaters IPO will debut on BSE SME on June 6, followed by Aimtron Electronics IPO on NSE SME and TBI Corn IPO on June 7.
