The Indian stock market continues to fluctuate, but the IPO market is quite strong. In the coming week, four companies are going to bring their IPOs, out of which two are mainboard and two are SME IPOs. Mainboard IPOs of Orient Technologies and Interarch Building will come. While Brace Port Logistics and Forcas Studio will bring IPOs in the SME segment. Apart from the new IPOs, shares of five companies including Saraswati Saree Depot, which got good response this week, will also be listed in the market.
25 more companies that have received SEBI approval are planning to come to the market in the next few weeks to raise about Rs 22,000 crore, which suggests that the good trend of IPOs will continue. According to Pantomath Capital Advisors, “India’s IPO success story is emerging amidst global economic uncertainty and geopolitical tensions. Whether the country will be able to maintain this momentum will depend on several factors, including economic growth, regulatory landscape and global market trends.” Let’s see what is going to happen on the IPO front next week.
Interarch Building Products IPO
Steel manufacturing solutions provider Interarch Building Products has kept the price band of its upcoming ₹1,186 crore IPO at ₹850 to ₹900 per share. This IPO will be open from August 19 to August 21. Out of this, ₹200 crore new shares will be issued and the remaining ₹400.28 crore shares will be sold by existing shareholders. These include Arvind Nanda, Gautam Suri, Ishan Suri, Shobhana Suri and OIH Mauritius Limited. The company started in 1983 and has now become a major player in design, engineering, construction and project management. Ambit and Axis Capital are the book running lead managers of this IPO. While Link Intime India is the registrar. The company’s stock was seen trading at a premium of 35 percent in the gray market.
Orient Technologies IPO
IT solutions provider Orient Technologies has kept the price band of its IPO at ₹ 195-206 per share. This IPO will be open from August 21 to August 23. The company plans to raise ₹ 215 crore through this IPO, out of which ₹ 120 crore new shares will be issued and the remaining ₹ 95 crore shares will be sold by existing shareholders. These include Ajay Baliram Sawant, Umesh Navnital Shah, Ujjwal Arvind Mhatre and Jayesh Manharlal. Orient Technologies specializes in IT infrastructure, IT enabled services (ITES) and cloud and data management services. Elara Capital is the sole book running lead manager for this IPO and Link Intime India is the registrar.
SME segment IPOs
In the SME segment, the IPO of both Forcas Studio and Brace Port Logistics will start from August 19 and close on August 21. Forcas has priced its shares at ₹ 77-80 per share, while Brace Port has fixed the price band at ₹ 76-80 per share. Forcas Studio’s share was seen trading with a premium of 100 per cent in the grey market. At the same time, Brace Port Logistics’ IPO was seen trading at a premium of 112.50 per cent.
