Investor Confidence Rebounds as Three IPOs Prepare to Open
The easing of geopolitical tensions in West Asia following the US-Iran agreement has helped revive investor appetite in Indian equity markets. Three companies are capitalising on this improved sentiment to tap the primary market this week: cruise services provider Waterways Leisure Tourism, Jaipur-based jewellery manufacturer Advit Jewels, and IT solutions company CSM Technologies. Several other firms are also readying their own public issues for the weeks ahead.
Waterways Leisure Tourism Targets Rs 585 Crore
Waterways Leisure Tourism is set to raise Rs 585 crore through its IPO, which opens for subscription on June 23 and closes on June 25. The company has fixed a price band of Rs 769 to Rs 808 per share.
Advit Jewels: Rs 165.16 Crore Issue from Jaipur
Jaipur jewellery maker Advit Jewels is also entering the market with a Rs 165.16 crore IPO, open from June 23 to June 25. The price range is set at Rs 130 to Rs 138 per share, with 1.20 crore new equity shares being offered under this issue.
CSM Technologies Opens June 24, Closes June 27
IT solutions provider CSM Technologies has set a price band of Rs 107 to Rs 113 per share for its Rs 146 crore IPO, which opens on June 24 and closes on June 27.
Naac Packaging Expected to Announce Price Band Next Week
Packaging solutions company Naac Packaging is likely to declare its IPO price band in the coming week. The proposed issue includes fresh shares worth Rs 475 crore alongside an offer for sale of 70 lakh equity shares from promoters and existing shareholders. Approximately Rs 435 crore raised from the fresh issue will go toward building a new manufacturing plant in Borisana, Mehsana district, Gujarat.
Zepto and SBI Mutual Fund: Large-Scale Listings in the Pipeline
Even bigger names are lining up for the primary market. According to market sources, quick commerce major Zepto is preparing an IPO worth more than Rs 10,000 crore. Separately, SBI Mutual Fund, the largest mutual fund company in the country, is reportedly planning to float an approximately Rs 13,000 crore IPO next month.
June Has Already Been Active for IPOs
The primary market has seen considerable activity throughout June. CMR Green Technologies and Hexagon Nutrition have already launched their IPOs this month. Digital insurance company Turtlemint Fintech Solutions also opened its IPO on June 19, with the subscription window closing on June 23.
