Busy Week Ahead for India’s IPO Market
Eight companies are launching their IPOs next week:
India's IPO market is gearing up for a busy week with 10 initial public offerings (IPOs), including two mainboard and eight SME listings.
Mainboard Offerings:
1. Manba Finance: Subscription from September 23-25, price band ₹114-120 per share, aiming to raise ₹151 crore for capital growth.
2. KRN Heat Exchanger: Available from September 25-27, price band ₹209-220 per share, planning to raise funds for expanding manufacturing in Neemrana, Rajasthan.
SME Segment:
Eight companies are launching their IPOs next week:
Sahasra Electronics: Opening September 26, targeting ₹186 crore.
Divyadhan Recycling and Forge Auto International: Launching September 26.
TechEra, Unilex Colours, and Thinking Hats: Starting September 25.
The Reserve Bank of India (RBI) anticipates September 2024 will be the busiest month for IPOs in 14 years, with over 28 companies entering the market. Notably, 54% of IPO shares have sold within a week of listing, driven by high interest in SME offerings.