Upbeat Mood in the Market: IPOs Set to Hit Dalal Street.
Introduction
In a testament to the positive sentiment prevailing in the investment and growth market, several companies from diverse industries are gearing up for initial public offerings (IPOs). The primary market is gaining momentum, with three main board IPOs and four small and medium enterprises (SME) IPOs scheduled to debut on Dalal Street starting from June 26.
Drone Manufacturing Company: ideaForge Technology
The first IPO of the week will be led by drone manufacturing company ideaForge Technology, commencing on June 26. With a price band of Rs 638-672 per share, the company aims to raise Rs 567 crore. The IPO consists of a fresh issue of shares worth Rs 240 crore and an offer-for-sale (OFS) of 48.69 lakh shares by the promoters and investors. Employees of the company have been reserved 13,112 equity shares at a discounted rate of Rs 32 per share. Prior to the IPO, ideaForge Technology raised Rs 255 crore through an anchor book.
Cyient DLM: IT Services Firm Subsidiary
Cyient DLM, the subsidiary of IT services firm Cyient, is set to launch its IPO on June 27, closing on June 30. The IPO, comprising only a fresh issue of shares, aims to raise Rs 592 crore with a price band of Rs 250-265 per share. Employees have been allocated shares worth Rs 15 crore at a discount of Rs 15 per share. The funds raised will be utilized to repay borrowings, meet working capital requirements, and fuel the company's capital expenditures and acquisitions.
PKH Ventures: Construction and Development Company
PKH Ventures, a construction and development company, plans to launch its maiden IPO on June 30, concluding on July 4. While the price band is yet to be announced, the company aims to raise around Rs 380 crore. The IPO comprises a fresh issue of 1.82 crore shares and an OFS of 73.73 lakh shares by promoter Pravin Kumar Agarwal. The proceeds will be utilized for the development of the company's subsidiary, Halaipani Hydro Project, and meeting long-term working capital requirements.
SME Segment: Pentagon Rubber and Global Pet Industries
In the SME segment, Pentagon Rubber and Global Pet Industries are preparing for their IPOs. Pentagon Rubber will open for subscription on June 26 and close on June 30, aiming to raise Rs 16.17 crore through a 100 percent issue of fresh shares. The price band for this IPO is set at Rs 65-70 per share. Global Pet Industries will open for subscription on June 29 and close on July 3, with a fixed issue price of Rs 49 per share. The IPO aims to raise Rs 13.23 crore through a fresh issue of 27 lakh equity shares.
Upcoming IPOs: Tridhya Tech and Synoptics Technologies
Tridhya Tech and Synoptics Technologies are two more companies planning to launch their IPOs on June 30, with a closing date of July 5. Tridhya Tech, a software development services provider, aims to raise Rs 26.41 crore through an issue of 62.88 lakh shares, priced between Rs 35-42 per share. Synoptics Technologies, an IT services and solutions company, seeks to raise Rs 54.03 crore through its maiden IPO of 22.8 lakh shares at a price of Rs 237 per share.
Conclusion
The market for investment and growth is thriving, as evidenced by the upcoming IPOs across various industries. These IPOs present lucrative opportunities for investors to participate in the growth of promising companies. As the primary market gains steam, companies like ideaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies are set to make their mark on Dalal Street, attracting both institutional and retail investors. Stay tuned for the latest developments and seize the chance to be part of India's vibrant investment landscape.