NEW DELHI: Despite a poor show by Paytm and Star Health, there is no shortage of initial public offerings (IPOs) in the Indian equity market. In the week between December 6 and 14, as many as four companies are floating their IPOs.
These companies are —RateGain Travel Technologies, Shriram Properties, CE Info Systems (MapmyIndia) and a Rakesh Jhunjhunwala-backed Metro Brands.
According to a market analyst, these IPOs are likely to be received well as their valuations seem fair. “Current IPOs are fairly valued, and their equity offer are limited and likely to fully subscribed,” said Gaurav Garg, Head of Research, Capitalvia Global Research.
He adds that investors can look into CE Info (MapmyIndia) as the company is providing 98.50% maps of the Indian road and having a monopoly kind of business.
The current grey market premium for the CE Info is 1750 (71.64%) while for RateGain it is 550 (20%) and for Shriram Properties it is 150 (21.19%).
The IPO of CE Info Systems will remain open between December 9 and December 13.
It has fixed a price band of Rs 1,000 to Rs 1,033 for its maiden public offer as it plans to mop up Rs 1,200 crore at the upper end of the price band.RateGain, which is the largest software-as-a-service firm in India operating in the hospitality and travel sector of the country, will launch its three day IPO on December 7 at fixed price price band of Rs 405-425.
The company, which reported loss of Rs 28.6 crore last fiscal, is likely to fetch Rs 1,335.73 crore at the upper price band.
Real estate firm Shriram Properties, will open its initial public offering on December 8. The price band for the same has been fixed at Rs 113 to Rs 118 and the company is aiming to fetch Rs 600 crore at the upper price band. Shriram had also posted a loss of Rs 68.17 crore in FY21.
Metro Brands’ four day IPO will be opened on December 10. The initial share-sale comprises fresh issuance of equity shares worth Rs 295 crore and an offer for sale of 2.14 crore equity shares by promoters and shareholders.