IPO Calendar: Primary market to see 9 new issues and 11 listings next week in post-election boom
In the SME segment, a total of seven issues will open for subscription next week.
Apart from the new IPOs, the Street will see 11 listings, including that of Stanley Lifestyles, DEE Development Engineers and Akme Fintrade.
The public offers of DEE Development Engineers and Akme Fintrade received a healthy response from investors with an overall subscription of 99 times and 55 times, respectively.
With a strong domestic economy, a thriving stock market, and increasing involvement from retail investors, analysts said India is poised for a massive surge in the IPO market.
«We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best ever for IPOs. So far, India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market,» said Mahavir Lunawat, MD, Pantomath Capital.
Here's what to expect from IPO market next week:
Allied Blenders and Distillers IPO
Allied Blenders and Distillers, the maker of Officer's Choice whisky, fixed a price band of Rs 267-281 per share for its Rs 1,500-crore IPO, which opens for subscription on June 25. The initial share-sale will close on June 27.
The Mumbai-based company's IPO comprises fresh equity issue worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 500 crore by promoters. As part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria will sell the shares.
Proceeds from the fresh issue worth Rs 720 crore will be used
