India’s IPO market is set to have a very fast-paced week ahead, with a plethora of both mainline and SME offerings, reflecting the ever-increasing investor interest.
Last week saw a rush for participation: five mainline and a staggering twelve SME IPOs attracted traders and sent the market into a tizzy.
Notable among these were the debuts of Gala Precision Engineering and Sri Tirupati Balaji from the main cadre, each of which made a strong entry, underlining the dynamism and unpredictable nature of the market.
But the real rage was Bajaj Housing Finance, which broke previous records with 8.9 million applications, beating the previous high of 7.35 million set by Tata Technologies.
This massive investor interest led to a surge in the offering by ₹6,560 crore and bids collectively exceeding ₹3.2 trillion, clearly reflecting the insatiable demand for top-tier listings in the financial sector.
The upcoming week promises no let-up in this relentless momentum. Starting with the IPOs of Arcade Developers and Northern Arc Capital, this week brings a fresh wave of possibilities for eager investors.
Bajaj Housing Finance, Cross and Tolins Tyres will make their market entry on Monday, September 16, 2024, followed by PN Gadgil Jewellers on Tuesday, September 17, 2024. Meanwhile, Western Carriers (India) is gearing up for its IPO, which is scheduled to close on Wednesday, September 18, 2024, and allotment is expected by Thursday, September 19, 2024.
Investors can see the shares in their demat accounts by Friday, September 20, 2024, and trading will commence on both BSE and NSE by Monday, September 23, 2024.
Mainboard IPOs next week
Arkade Developers IPO
Arcade Developers, which is scheduled to open its IPO on Monday, September 16, 2024, will keep the window open till Thursday, September 19, 2024. Packed in lots of 110 shares set within a price range of ₹121-128 per share, Arcade aims to raise up to Rs 410 crore by issuing 32,031,250 new shares, each of which has a face value of Rs 10.
For retail investors, the minimum entry point is a bid of 110 shares, which sets the minimum price at Rs 14,080.
The allotment schedule is targeted to be finalized by Friday, September 20, 2024, with the shares likely to make their debut on the NSE and BSE by Tuesday, September 24, 2024, a deadline so tight that it gives investors plenty of breathing room. There is little space.
Northern Arc Capital IPO
Shortly thereafter, Northern Arc Capital is set to light up the IPO landscape on the same Monday, September 16, 2024, which will continue through Thursday, September 19, 2024.
Targeting realization of ₹777 crore, Northern Arc’s offer presents a layered approach: a fresh issue of 19,011,407 shares, with an offer for sale of 10,532,320 shares, priced between ₹249-263 per share , and which has a lot size of 57 shares.
Mark your calendars for Friday, September 20, 2024, when allotments are expected to end, shares are expected to arrive in demat accounts by Monday, September 23, 2024, and trading will commence on the BSE and NSE by Tuesday, September 24, 2024.
SME IPOs next week
Talking about the SME sector, the week ahead is going to be very eventful, with 10 IPOs lined up for listing, including Excellent Wires & Packaging, Trafficsol ITS Technologies, SPP Polymers, Gajanand International, Share Samadhan, Shubhshree Biofuels Energy, Aditya Ultra Steel, Vision Infra Equipment Solutions, My Mudra Fincorp and Sodhani Academy of Fintech Enablers.
With this, four existing IPOs : Popular Foundation, Deccan Transcon Leasing, EnviroTech Systems and Sodhani Academy of Fintech Enablers will complete their subscription phase, with allotment expected to take place soon after.
ALSO READ: Mainboard IPO vs SME IPO
Five new IPOs, including SD Retail, Bikevo Greentech, Paramount Specialty Forgings, Pellatro, and Ocell Devices, are set to launch, adding even more excitement to the SME market. This massive wave of IPO activity in both the mainline and SME sectors sets the stage for a high-stakes arena filled with opportunities and fierce competition.
It’s a scenario ripe for the adventurous, drawing investors into a complex ballet of market moves where every option has the potential to be a win or a misstep. This period has become a heady mix of anticipation and strategic moves.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial, investment, or other professional advice. Investment decisions should be made based on your research and assessment of the risks involved. We do not endorse or recommend any specific stocks, securities, or financial instruments mentioned in the article.
