Primary market on a roll next week as Rs 7,300 crore worth IPOs on sale!
The biggest among the five is Tata Technologies Ltd, which plans to raise Rs 3,040 crore through an initial public offering of shares.
The second on the list is Mini Ratna company Indian Renewable Energy Development Agency Ltd, and the government is looking at raising Rs 2,150 crore through this public offer.
Fedbank Financial Services is the third one that will be launching its Rs 1,092 crore IPO in the coming week.
The two other candidates on the list are Flair Writing Industries and Gandhar Oil Refinery India Ltd, each coming out with more than Rs 500 crore worth of IPOs.
Here’s a brief on each of the public issues that will hit the primary market next week:
Tata Technologies Ltd
The public offer, the first one from the Tata Group stable in the last 20 years, will open for subscription on November 22 and close on November 24. The company has set the price band for the issue at Rs 475-500 a share.
Ahead of the IPO, the stock is already in high demand as it’s trading at a premium of Rs 240-260 per share to its issue price in the grey market or the unofficial market, according to dealers.
The IPO of the global engineering solutions provider is a complete offer for sale (OFS), with promoter Tata Motors offering 4.62 crore shares in the offer.
Under the IPO, Tata Technologies has reserved a 10% quota for Tata Motors' eligible shareholders.
Indian Renewable Energy Development Agency (IREDA)
The pure-play green financing NBFC firm’s Rs 2,150 crore public issue will open for subscription on November 21 and close on November 23.
The government has fixed the price band for the IPO at Rs 30-32 a share.
Grey market trends showed that stock was trading at a premium of about Rs 8-9 to its issue price.
The IPO
