Six IPOs Worth Over Rs 2,000 Crore Set to Launch Next Week
Overview
Dalal Street gears up for a busy week with six IPOs aggregating over ₹2,000 crore scheduled to open for subscription. Amagi Media Labs, a SaaS firm, leads the pack with a ₹1,789 crore mainboard IPO, while five companies debut on the SME segment, adding to the fundraising frenzy.
Dalal Street is poised for an active week with six Initial Public Offerings (IPOs) collectively aiming to raise over ₹2,000 crore. Five companies are slated to make their market debut starting January 12.
Mainboard Debut
Amagi Media Labs, a Bengaluru-based Software-as-a-Service (SaaS) company backed by prominent investors including Premji Invest and Accel, will be the sole mainboard IPO. Its ₹1,789 crore offering opens on January 13 and closes on January 16, with shares priced between ₹343-361. The issue comprises a fresh issuance of equity worth ₹816 crore and an offer-for-sale of ₹972.6 crore.
SME Segment Rush
The Small and Medium Enterprise (SME) segment will witness five public issues totaling ₹238.11 crore. Avana Electrosystems, a maker of control and relay panels, and brass products manufacturer Narmadesh Brass Industries open their IPOs on January 12. Avana aims to raise ₹35.22 crore at ₹56-59 per share, while Narmadesh Brass targets ₹44.87 crore at ₹515 per share.
Indo SMC, a junction box manufacturer, and solar EPC firm GRE Renew Enertech will open their issues on January 13. Indo SMC seeks to raise approximately ₹92 crore at ₹141-149 per share, and GRE Renew Enertech plans to mobilize ₹39.6 crore within the ₹100-105 price band.
Armour Security India, a security services provider, will launch its ₹26.5 crore IPO on January 14, with shares offered at ₹55-57.
Closing IPOs and Listings
Meanwhile, Bharat Coking Coal, a subsidiary of Coal India, is set to close its ₹1,071.11 crore mainboard IPO on January 13. The issue saw strong investor demand, subscribing 8.09 times on its first bidding day, January 9. Defrail Technologies, a rubber parts maker, will also close its SME IPO on the same day, having been subscribed 74 percent on January 9.
Five companies are scheduled for market debuts next week. Bharat Coking Coal is set to list on January 16, marking the only mainboard debut. Four SME entities will list earlier: Gabion Technologies India on January 13, followed by Victory Electric Vehicles International and Yajur Fibres on January 14. Defrail Technologies is expected to debut on January 16.
Market observers noted that Bharat Coking Coal and Gabion Technologies IPOs are trading with over 40 percent premium in the grey market. Defrail Technologies commands an 8 percent premium, while Victory Electric Vehicles International and Yajur Fibres show no premium currently.
