Six companies are planning to make a mark on Dalal Street by raising around Rs 7,300 crore through initial public offerings (IPOs). Tata Technologies and the Indian Renewable Energy Development Agency (IREDA) are two key candidates.
This week's upcoming IPOs are listed below.
IPO of Tata Technologies
The much-anticipated Tata Technologies initial public offering (IPO) is set to begin on November 22 and end on November 24. This is the Tata Group's first IPO in nearly 19 years, with shares priced between $475 and $500 per share. The engineering services firm, which is worth more over Rs 20,000 crore, intends to raise 3,042.51 crore through an Offer for Sale (OFS), with Tata Motors, Alpha TC Holdings Pte Ltd, and Tata Capital Growth Fund I acting as selling shareholders. The grey market premium for Tata Technologies' IPO is 351, as of November 20, 2023.
IREDA Public Offering
IREDA, a Mini Ratna enterprise, leads the pack of six IPOs, with subscriptions opening on November 21 and closing on November 23. The financial body hopes to raise more than Rs 2,150.21 crore at a price range of Rs 30 to Rs 32 per share. The IPO consists of a new issue of 40.31 billion equity shares and a government offer-for-sale (OFS) of 26.87 billion shares. The grey market premium for the IREDA IPO, as of November 20th, 2023, was Rs 7.
IPO of Gandhar Oil Refinery India
Gandhar Oil Refinery India, a manufacturer of white oils, will open for bidding on November 22 and close on November 24, with a price range of Rs 160 to Rs 169 per share. The Mumbai-based firm hopes to raise more than Rs 500.69 crore through a new share issuance and an Offer for Sale (OFS) of 1.17 crore equity shares. Gandhar Oil Refinery IPO has a grey market premium of Rs 52 over the issue price.
IPO of Fedbank Financial Services
Fedbank Financial Services plans to raise around 1,092 crore between 22 and 24 November. The Non-Banking Financial Company's IPO, priced between 133 and 140 per share, involves a new issuance of shares as well as an offer-for-sale (OFS) of 3.5 crore equity shares. Fedbank Financial Services IPO has a grey market premium of Rs 8 over the issue price.
IPO of Flair Writing Industries
Flair Writing Industries, a Mumbai-based stationery products producer, will have its initial public offering (IPO) from November 22 to November 24, with a price range of $288 to 304 per share. The Rathod family intends to raise 593 crore through a mix of new shares and an Offer for Sale (OFS). Flair Writing Industries' IPO has a grey market premium of Rs 67.
Circular Economy IPO Rocking Deals
Rocking Deals Circular Economy, which specialises in wholesale trading of surplus inventory and re-commerce products, will have its initial public offering on November 22. The B2B re-commerce startup intends to raise 21 crore through a fresh offering of shares priced between 136 and 140 rupees per share. Rocking Deals Circular Economy IPO has a grey market premium of Rs 35.
