As the stock market continues to thrive, numerous companies are rushing to launch Initial Public Offerings (IPOs) to raise funds.
In a single day, 13 companies have submitted documents seeking IPO approval from the Securities and Exchange Board of India (SEBI).
If these applications are approved, these companies could collectively raise at least Rs 8,000 crore through their IPOs.
These companies come from a variety of sectors, with some proposing to offer both fresh shares and an Offer for Sale (OFS) by promoters.
Among the companies that have filed documents are Vikram Solar, Aditya Infotech, and Varindra Constructions.
Other companies include Ajax Engineering, Rahi Infratech, Vikran Engineering, Midwest, Vini Corporation, Sambhav Steel Tubes, Jaro Institute of Technology Management
and Research, All Time Plastics Ltd, Skoda Tubes, and Dev Accelerator.
Growing Confidence in the Indian Market
The fact that 13 companies are seeking IPO approval in a single day indicates growing confidence in the Indian market.
So far in 2024, 62 companies have raised Rs 64,000 crore through IPOs, which is a 29% increase from the Rs 49,436 crore raised by 57 companies in 2023.
Experts, such as Munish Aggarwal, head of equity capital markets at Equiras, believe this bullish trend will continue into 2025, provided no major global economic setbacks occur.
According to merchant bankers, several more companies, including Hyundai Motor India, Swiggy,
and NTPC Green Energy, are planning IPOs that could collectively raise Rs 60,000 crore in the next two months.
Details of Upcoming IPOs
Vikram Solar: A combination of fresh shares worth Rs 1,500 crore and an OFS of 1.74 crore shares.
Aditya Infotech: Plans to raise Rs 1,300 crore, with Rs 500 crore in fresh shares and Rs 800 crore in an OFS.
Varindra Constructions: Proposes an IPO of Rs 1,200 crore, which includes Rs 900 crore in fresh shares and Rs 300 crore in an OFS.
Vikran Engineering: Offering fresh shares worth Rs 900 crore and an OFS of Rs 100 crore.
Rahi Infratech: Plans to raise Rs 420 crore with an OFS of 27 lakh shares.
Sambhav Steel Tubes: Proposes fresh shares worth Rs 440 crore and an OFS of Rs 100 crore.
Jaro Institute: Aims to raise Rs 570 crore, including Rs 170 crore in fresh shares and Rs 400 crore in an OFS by promoter Sanjay Salunkhe.
All Time Plastics: A combination of Rs 350 crore in fresh shares and an OFS of 52.5 lakh shares.
Skoda Tubes: IPO will consist of new shares worth Rs 275 crore.
Dev Accelerator: Proposes a fresh issue of 2.47 crore shares.
These companies are positioning themselves to take advantage of the strong market conditions, reflecting optimism about the continued growth of the Indian stock market.
