The primary market is gearing up for an eventful week leading up to Diwali, with a total of eight companies set to debut on the stock exchanges following successful initial public offerings (IPOs). This surge in market activity coincides with the festive season, ensuring that investor enthusiasm remains high. Alongside these debuts, the bidding windows for two additional public issues will also close next week, keeping the momentum alive in the primary market.
Last week, from October 21, was particularly significant for the primary markets. Hyundai Motor India marked its entry after launching the largest IPO to date in the country. Meanwhile, Waaree Energies set a new record by attracting the highest number of applications—over 97.34 lakh—for its IPO, underscoring the growing investor interest in renewable energy.
As we move into the week starting October 28, the trading sessions will be somewhat limited due to Diwali festivities, with the markets closed on Friday, November 1. However, a special trading session known as “Muhurat Trading” will be conducted from 6 PM to 7 PM on that day, allowing traders to make auspicious trades to kick off the new financial year.
Upcoming IPOs
Two public issues are set to close their subscription windows next week:
- Afcons Infrastructure IPO:
- Size: ₹5,430 crore
- Structure: This book-built issue consists of a fresh issuance of 2.7 crore shares valued at ₹1,250 crore and an offer-for-sale of 9.03 crore shares amounting to ₹4,180 crore.
- Price Band: ₹440 to ₹463 per share
- Lot Size: Retail investors can bid for a minimum of one lot, which includes 32 shares, requiring an investment of ₹14,816.
- Timeline: The IPO opened for subscription on October 25 and will close on October 29, with share allotment results available by October 30. Listing is expected on November 4.
- Usha Financial Services IPO:
- Size: ₹98.45 crore
- Structure: This public issue involves a fresh issuance of 58.6 lakh shares.
- Price Band: ₹160 to ₹168 per share
- Lot Size: Investors can apply for one lot, comprising 800 shares, requiring a total investment of ₹1,34,400.
- Timeline: The subscription opened on October 24 and will close on October 28, with allotment status expected on October 29. The tentative listing date is October 31.
D-Street Debuts
The following eight companies are set to make their D-Street debuts next week:
- October 28:
- Deepak Builders and Engineers India Limited
- Waaree Energies Limited
- Premium Plast Limited (NSE SME platform)
- October 29:
- Danish Power Limited
- United Heat Transfer Limited
- OBSC Perfection Limited (all on NSE Emerge platform)
- October 30:
- Godavari Biorefineries Limited (listed on NSE and BSE)
- October 31:
- Usha Financial Services (listed on NSE SME platform)
Future Prospects
Looking ahead, several notable IPOs are on the horizon. Food delivery giant Swiggy is anticipated to launch its IPO in November 2024, aiming to raise ₹11,000 crore. Additionally, NTPC Green Energy Limited, a subsidiary of NTPC, is preparing for a ₹10,000 crore IPO, expected to open in early November. Electric two-wheeler manufacturer Ather Energy is also gearing up for a public offer, contributing to the vibrant activity in the primary market as it aligns with the growing trend towards sustainable and innovative businesses.
In summary, the upcoming week promises significant activity in the primary market, setting the stage for both new investors and seasoned market players to engage with emerging opportunities as Diwali approaches.
