MUMBAI: Despite the blood bath in the market in the aftermath of the US-Israel war on Iran, and the resultant selloff by foreign investors, four IPOs are hitting the market this week, collectively seeking to mop up more than Rs 6,600 crore from primary share sales. At the same time another four issues are getting completed and are slated for market debut next week, indicating that the poor secondary market sentiment has not impact the investor interest in primary issues.
The total fund raising by these four new IPOs will be more than Rs 6,600 crore including three from the mainboard segment.
The biggest of the four is the share sale by infrastructure investment trust Raajmarg Infra Investment Trust's Rs 6,000-crore IPO which will be available for public subscription on March 11. The company has fixed the price band at Rs 99-100 a unit.
Next is the stainless-steel products maker Rajputana Stainless, which is opening the week with an Rs 255-crore issue on Monday, with a price band at Rs 116-122. The issue consists fresh issue of Rs 178.7 crore and an offer-for-sale worth Rs 76.25 crore.
The next is the Rs 323-crore issue from manpower services and toll plaza management provider Innovision, opening on March 10 at a price band of Rs 521-548. The offer comprises fresh issue of Rs 255 crore, and an offer-for-sale of Rs 67.84 crore.
The fourth issue is on the SME platform from Apsis Aerocom, which is into precision engineering components catering to the aerospace, defence, and healthcare industries. The Rs 35.77-crore public issue opens on March 11 with price band of Rs 104-110 per share.
Then there are two issues closing Monday and Tuesday—the Rs 25-crore SME issue by Elfin Agro India that’s closing Monday, followed by the Rs 20.3-crore issue by Srinibas Pradhan Constructions on March 10.
On the listing front, four new companies will be available for trading including Sedemac Mechatronics from the mainboard segment scheduled for listing on March 11. The Rs 1,087-crore offer was subscribed 2.68x last week.
In the SME segment, the Rs 49-crore Acetech E-Commerce is making its debut on the NSE Emerge on Monday, followed by Elfin Agro India on the BSE SME on March 12, and Srinibas Pradhan Constructions on March 13 on the NSE Emerge.