After a quiet period due to the Lok Sabha elections, the primary market is gearing up for a significant revival. Investors and market enthusiasts are buzzing with anticipation as nine new IPOs are set to open for subscription in the coming week, alongside one new listing. This marks the beginning of a promising phase for the market, potentially setting the stage for a vibrant investment environment.
The elections had momentarily subdued market activities, but with the political scenario now settled and the Modi government back in power, the stage is set for a resurgence. Investor confidence is on the rise, and the primary market is ready to capitalize on this positive sentiment. The recent success of the Ixigo IPO, which garnered over ₹740.10 crore, reflects this renewed enthusiasm.
Recent IPO Performance
The recent success of the Ixigo IPO serves as a testament to the robust investor interest in the market. Ixigo, a leading travel and hotel booking platform, raised over ₹740.10 crore at the upper price band, drawing a healthy response from investors. This positive reception underscores the strong market sentiment, even amidst the uncertainties of the election period.
Investors showed confidence in Ixigo’s growth potential and market positioning, leading to an oversubscription of the shares offered. This strong demand not only highlights the company’s appeal but also sets a promising precedent for the upcoming IPOs. The success of Ixigo’s public offering is a clear indicator that the market is ripe for new entries, with investors keen to explore fresh opportunities.
This enthusiastic response from the investor community suggests a resurgence in market activities and a readiness to support new ventures. As the primary market bounces back, the Ixigo IPO stands as a beacon of optimism, paving the way for the forthcoming IPOs. With this momentum, the market is poised for an exciting phase of growth and investment.
DEE Piping Systems IPO
Dates – June 19-21, 2024
Size – ₹418.01 crore
Price Band – ₹193 – ₹203 per share
Details – The IPO comprises a fresh issue of 1.6 crore shares totaling ₹325 crores and an offer for sale of 0.46 crore shares amounting to ₹93.01 crores. SBI Capital Markets Limited and Equirus Capital Private Limited are the book-running lead managers, with Link Intime India Private Ltd acting as the registrar.
Aasaan Loans IPO
Dates – June 19-21, 2024
Size – ₹132 crore
Price Band – ₹114 – ₹120 per share
Details – This IPO is entirely a fresh issue of 1.1 crore shares. Gretex Corporate Services Limited is the lead manager, while Bigshare Services Pvt Ltd is the registrar.
Stanley Lifestyles IPO
Dates – June 21-25, 2024
Size – ₹537.02 crore
Price Band – ₹351 – ₹369 per share
Details – The offering includes a fresh issue of 0.54 crore shares totaling ₹200 crores, and an offer for sale of 0.91 crore shares amounting to ₹337.02 crores. Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book-running lead managers, with Kfin Technologies Limited serving as the registrar.
GEM Enviro IPO
Dates – June 19-21, 2024
Size – ₹44.93 crore
Price Band – ₹71 – ₹75 per share
Details – This IPO comprises a fresh issue of 14.98 lakh shares, amounting to ₹11.23 crores, and an offer for sale of 44.93 lakh shares totaling ₹33.70 crores. Share India Capital Services Private Limited and Fintellectual Corporate Advisors Private Limited are the lead managers, with Skyline Financial Services Private Ltd as the registrar.
Durlax Top Surface IPO
Dates – June 19-21, 2024
Size – ₹40.80 crore
Price Band – ₹65 – ₹68 per share
Details – This book-built issue consists of a fresh issue of 42 lakh shares totaling ₹28.56 crores, and an offer for sale of 18 lakh shares amounting to ₹12.24 crores. Expert Global Consultants Private Limited is the lead manager, with Bigshare Services Pvt Ltd as the registrar.
Falcon Technoprojects India IPO
Dates – June 19-21, 2024
Size – ₹13.69 crore
Price – ₹92 per share
Details – This fixed price issue consists of 14.88 lakh fresh shares. Kunvarji Finstock Pvt Ltd is the lead manager, with Kfin Technologies Limited serving as the registrar.
EnNutrica IPO
Dates – June 20-24, 2024
Size – ₹34.83 crore
Price Band – ₹51 – ₹54 per share
Details – This IPO involves a book-built issue consisting entirely of a fresh issue of 64.5 lakh shares. Beeline Capital Advisors Pvt Ltd is the lead manager, with Link Intime India Private Ltd as the registrar.
Winny Immigration IPO
Dates – June 20-24, 2024
Size – ₹9.13 crore
Price – ₹140 per share
Details – This fixed price issue comprises 6.52 lakh fresh shares. Interactive Financial Services Ltd is the lead manager, with Bigshare Services Pvt Ltd as the registrar.
Medicamen Organics IPO
Dates – June 21-25, 2024
Size – ₹10.54 crore
Price Band – ₹32 – ₹34 per share
Details – This IPO involves a book-built issue comprising entirely of a fresh issue of 31 lakh shares. GYR Capital Advisors Private Limited is the lead manager, with Kfin Technologies Limited as the registrar.
With these diverse offerings, investors have a plethora of options to explore and invest in, signaling a vibrant and dynamic phase for the primary market.
Expert Insights
Mahavir Lunawat (Managing Director of Pantomath Capital Advisors Pvt. Ltd.)provides valuable insights into this burgeoning trend. Lunawat highlights that around 24 companies are in the pipeline to enter the primary market over the next few months, collectively aiming to raise over ₹30,000 crore.
This projected influx underscores a robust market momentum, with India solidifying its position as the second-largest IPO market globally, following the US.
The growing momentum of new public offerings over the last two years has made India the second-largest IPO market in the world.
Mahavir Lunawat
The conclusion of the Lok Sabha elections and the return of the Modi government have injected a renewed sense of confidence among investors. According to Lunawat, the election results have settled market uncertainties, and analysts predict that the IPO wave will gain further momentum in the coming months.
We witness strong investor confidence in the market post-elections with the Modi government returning to power.
Mahavir Lunawat
He asserts, suggesting that political stability is playing a crucial role in bolstering market activities.
