Upcoming IPOs: 2 new public issues and 4 new listings to keep primary market busy next week

India has emerged as the second-largest initial public offerings (IPO) market. With the election results announced, the continuation of existing policies is highly anticipated, which is expected to further fuel the IPO boom.

“India has become the 2nd largest IPO market. With election results being out, the continuation of existing policies is highly expected which will fuel the IPO boom further. We witness significant capital to be deployed in public markets & strong demand for new-age as also conventional companies," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd. - A Leading Mid-Market Investment Bank.

Also read: Week Ahead: Inflation data, US Fed policy, global cues among key market triggers as Nifty 50 eyes 23,500 this week

Lunawat further added, “We believe that companies with good fundamentals will go public & attract large amounts of capital from street. The upcoming Union Budget will be a crucial trigger for understanding the new government’s strategy for the economy."

The primary market will take a breather as only two new public issues are set to open in the coming week. In the mainboard segment, Le Travenues Technology Ltd, which is Ixigo's operator company, will launch its IPO. Meanwhile, in the small and medium enterprise (SME) section, United Cotfab IPO is scheduled to open for subscription.

Here are the IPOs which will open for subscription next week -

Ixigo IPO

The Ixigo IPO will open for bidding on June 10 and will close on June 12. The IPO of the traveler company is a book-built issue of ₹740.10 crore and is a combination of fresh issue of 1.29 crore shares aggregating to ₹120 crore and offer for sale of 6.67 crore shares aggregating to ₹620.10 crore.

Also read: ixigo IPO to open on June 10; here's what GMP indicates ahead of public issue

The price band of the upcoming IPO is set at ₹88 to ₹93 per share. Axis Capital Limited, Dam Capital Advisors Ltd (formerly IDFC Securities Ltd), and JM Financial Limited are the book-running lead managers for the ixigo IPO, while Link Intime India Private Ltd serves as the registrar for the issue.

United Cotfab IPO

The United Cotfab IPO will be open for subscription from June 13 to June 19. The SME IPO is a fixed price issue of ₹36.29 crore and consists entirely of a fresh issue of 51.84 lakh shares.

The price band of SME IPO is ₹70 per share. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the United Cotfab IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue.

Also read: Bajaj Housing Finance board approves IPO plan to raise ₹4,000 crore via fresh issue plus OFS component

New Listings

Kronox Lab Sciences IPO: The allotment for Kronox Lab Sciences IPO was finalized on Thursday, June 6, 2024. The IPO will be listed on BSE, NSE on June 10.

3C IT IPO: The allotment for the 3C IT IPO is expected to be finalized on Monday, June 10, 2024. The SME IPO will list on BSE SME with tentative listing date fixed as Wednesday, June 12.

Sattrix IPO: The allotment for the Sattrix IPO is expected to be finalized on Monday, June 10, 2024. The SME IPO will list on BSE SME with tentative listing date fixed as Wednesday, June 12.

Magenta Lifecare IPO: The allotment for the Magenta Lifecare IPO is expected to be finalized on Monday, June 10. The IPO will list on BSE SME with tentative listing date fixed as Wednesday, June 12, 2024.

IDFC More Information

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