Around a dozen companies will come up with their initial public offerings (IPOs) in the coming months to raise over Rs 15,000 crore. The Economic Times (ET) has reported. This comes at a time when the stock markets are witnessing a lot of volatility and price swings. Several of these companies are planning to launch their IPOs before Diwali, which is on November 12.
Cello World and Blue Jet Healthcare have already announced their IPS dates.
On the other hand, Tata Technologies, Mamaearth, ASK Automative, Protean eGov Technologies, Fedbank Financial Services, ESAF Small Finance Bank, Flair Writing Industries and Credo Brands Marketing, among others, are doing the same.
Cello World, a major player in homewares, stationery and office supplies, opens for public subscription on October 30 and closes on November 1.
The company has fixed the price at Rs 617-648 per share. Registration for the Blue Jet Healthcare IPO is open until October 27. The company aims to raise Rs 840 crore from this exercise.
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Tata Technologies is one of the most awaited IPOs and the same IPO is expected to hit the stock market in the second or third week of November. Once completed, this will be the Tata Group’s first issue in about two decades. The Tata Group’s last IPO was by Tata Consultancy Services (TCS), which was launched in 2004. At the launch, TCS made an offer of Rs 5,500 crore. The AND The report quotes bankers as saying that institutional investors are interested in investing.
Market experts have said that Tata Technologies shares are likely to be issued in the price range of Rs 450-500 per share and it will have a premium of Rs 240 in the unofficial market. The Economic Times (ET) report said.
The public issue of Mamaearth’s parent Honasa Conusmer is expected to be launched next week and raise around Rs 1,650 crore. The IPO includes a fresh issue of Rs 400 crore and an offer for sale of 46.8 million shares from existing investors.
Managing Director of JM Financial, Atul Mehra, was quoted in the AND report as follows: “Even in volatile market conditions, at the right valuation, robust institutional demand has been evident during roadshows.”