IPOs next week: Protean eGov Tech, ASK Automotive among 4 IPOs set to light up market in run-up to Diwali
Apart from new offers, markets will also see listings of Cello World and Mamaearth, whose IPOs hit the Street a few days ago.
Given the massive rush of public issues this year, India’s share (number of IPOs) in the global pie has increased sharply from just 6% in 2021 to 13% in the first half of 2023.
Analysts expect this momentum to continue in the near future with the much-anticipated Tata Technologies IPO likely to be launched in the third or fourth week of November.
«The stampede to market is expected to keep going well into 2024, with investors encouraged by strong listing gains and a robust economy. This month alone, there are 14 IPOs slated,» said Mahavir Lunawat, MD, Pantomath Capital Advisors.
Next week, Protean eGov Technologies and ASK Automotive are planning to raise a cumulative Rs 1,324 crore through their public offers.
Here's a brief look at what's on offer.
Protean eGov Technologies
The IPO of Protean eGOV Technologies will open for subscription on November 6 and close on November 8. The company has fixed a price band of Rs 752-792 per share, and at the upper end, it plans to raise Rs 490 crore.
The issue is completely an offer for sale (OFS) of 61.9 lakh shares.
