Tata Technologies, Gandhar Oil Refinery among 5 IPOs rake a staggering Rs 2.5 Lakh Crore this week!

In a week marked by an IPO frenzy, the total bids for five public issues have surpassed an impressive Rs 2.5 lakh crore, excluding anchor investors' allotment. Tata Technologies' IPO alone has witnessed bids worth over Rs 1.56 lakh crore, oversubscribed by a staggering 69.43 times the issue size, with bids for 312 crore shares against the 4.5 crore shares on offer.

The Indian Renewable Energy Development Agency's IPO, closing on November 23, also received strong demand, being subscribed 38.8 times, with bids for 1,827 crore equity shares against an offer size of 47.09 crore. The estimated total value of these bids stands at Rs 58,470 crore at the upper end of the price band.

Gandhar Oil Refinery's IPO saw an overwhelming subscription of 64.07 times, garnering bids for 136.1 crore shares against the 2.12 crore shares on offer. The total bids are expected to exceed Rs 23,000 crore at the upper price band of Rs 169.

Flair Writing Industries witnessed an oversubscription of 46.68 times, with bids for 67.28 crore shares against an issue size of 1.44 crore, totaling over Rs 20,400 crore at the upper price band of Rs 304 per share.

However, Fedbank Financial Services IPO lagged behind with a subscription of 2.2 times, receiving bids for 12.3 crore shares against an issue size of 5.6 crore, amounting to an estimated Rs 1,720 crore at the upper price band of Rs 140 per share.

Experts attribute this IPO fervor to improving sentiment in the secondary market and a robust appetite for quality offerings in the primary market. High net worth individual (HNI) clients, cautiously bullish amid global uncertainties such as the ongoing Israel-Palestine war, have shown interest in Indian equities. They have been actively buying on market dips and express a willingness to allocate more funds in case of a market correction.

It is essential for investors to exercise caution and seek advice from certified experts before making any investment decisions, as market conditions and sentiments can change rapidly.