Companies line up IPOs to raise around Rs 8,000 cr in August

economictimes.indiatimes.com:

IPOs) are lined up to raise nearly ₹8,000 crore in August, according to investment bankers.Companies such as SBFC Finance, Concord Biotech, Jupiter LifeLine Hospitals, TVS Supply Chain Solutions, Balaji Speciality Chemicals, Yatra Online, Innova Captab, Aeroflex Industries, Rishabh Instruments, and Vishnu Prakash R Punglia are likely to launch their maiden public issue this month. The ₹1,551 crore public issue of Ahmedabad-based pharmaceutical firm Concord Biotech will open today for public subscription, while the ₹1,025 crore Mumbai-based non-banking finance company SBFC Finance public issue opened on Wednesday. The mood in the primary market is better now with a strong secondary market, according to bankers.

«Demand for IPOs has revived in the last two-three months with a strong secondary market amid a cooldown in uncertainty in interest rates and inflation,» said Ajay Saraf, head of investment banking, ICICI Securities. «But only selective companies with unique businesses sold at decent valuations will get good demand.» Last month, four companies raised 2,213 crore. The 500 crore public issue of Utkarsh Small Finance was subscribed 111 times, while 631 crore Netweb Technologies was subscribed 91 times.

Even the public issue of Senco Gold which raised 405 crore, was subscribed 77 times. However, the 380 crore IPO of PKI Ventures was called off due to poor demand. Mumbai-based Jupiter LifeLine Hospitals, a multi-speciality healthcare provider with 1,194 hospital beds as of December 31, 2022, plans to launch its 1,200 crore IPO this month.