IPO rush: 25 cos set to rake in Rs 22k cr
In first week of August, 4 cos launched IPOs worth Rs11,850 cr; All of them oversubscribed
Buoyancy In Capital Mkt
♦ Ola Electric Mobility trading 75% higher than issue price
♦ Ola Electric is now valued at Rs58,664 cr
♦ Brainbees Solutions (FirstCry) listed 40% higher at Rs651 against IPO price of Rs465
♦ SIP contributions rose to all-time high of Rs23,331.75 cr in July
New Delhi: The initial public offering (IPO) season has warmed up and at least 25 companies, already approved by the market regulator Sebi, are planning to enter the market to raise about Rs22,000 crore in the coming few weeks, analysts said on Friday.
Despite the ups and downs in global stock markets, the Indian primary market continues to be robust, they said.
In the first week of August, four companies launched IPOs worth over Rs11,850 crore, and they were all successful, according to Pantomath Capital Advisors.
“India’s IPO success story is taking shape amid global economic uncertainty and geopolitical tensions. Whether the country can keep up this momentum, amidst the global challenges, will depend on several factors, including economic growth, the regulatory landscape, and global market trends,” the analysts noted.
Ola Electric Mobility shares saw a rally and were locked in the upper circuit of 20 per cent at Rs133.08 on Friday, its new high. Ola Electric is now valued at Rs58,664 crore.