IPOs This Week: Dalal Street to remain buzzing as 6 new companies gear up to raise ₹7,300 crore; check full list here
₹ 7,300 crore via initial public offering (IPO). Tata Technologies and Indian Renewable Energy Development Agency (IREDA) are among the biggest among six companies. ‘’In terms of the number of IPOs, India’s share in the global pie has increased sharply.
In 2021, India’s share in the total number of IPOs globally stood at 6 per cent. It surged to 11 per cent in 2022. In the first half of 2023, India’s share in the number of global IPO’s has rose to 13 per cent,'' said said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt.
Ltd, a mid-market investment bank. The most long-awaited will open for subscription on November 22 and will close on November 24. The company has fixed a price band of ₹475 - ₹ 500 per share.
This is the first IPO from the Tata Group after almost 19 years. The engineering services firm, valued at over ₹ 20,000 crore in the market, seeks to raise over ₹3,042.51 crore through the Offer for Sale (OFS). The promoters, Tata Motors, along with investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I, are the participating selling shareholders in the OFS.
The Mini Ratna enterprise, which will be among the first among six IPOs in the mainboard segment, will open for subscription on November 21 and will close on November 23. The price band for the IREDA IPO has been fixed at ₹30 - ₹32 per share. The financial entity aims to raise over ₹2,150.21 crore by offering 67.19 crore equity shares in a public issue at the upper price limit.
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