IPO Frenzy: Muthoot Microfin, Innova Captab, and 12 others hit Dalal Street next week

Next week, Dalal Street is poised to witness a surge of Initial Public Offerings (IPOs) with 12 companies set to raise over Rs 4,600 crore starting from December 18. This follows the nearly Rs 4,000 crore worth of IPOs launched in the week ending on December 15. The bullish sentiment in the stock market, with benchmark indices and various sectors reaching new highs, has contributed to an active primary market, offering numerous investment opportunities.

The positive outlook is attributed to robust economic growth, expectations of policy continuity following recent state election results, anticipated monetary policy easing by central banks in the coming year, favorable oil prices, expectations of strong earnings growth, and healthy domestic fund inflows.

As of next week, the total fundraising by 239 companies in the current calendar year is expected to reach Rs 57,720 crore, including SMEs. While this is slightly lower than the Rs 61,900 crore raised by 150 IPOs in the previous year, the trend of a high volume of IPOs in India is expected to continue into 2024.

IPO Details:

Muthoot Microfin IPO:

Opening Date: December 18

Price Band: Rs 277-291 per share

Fundraising Target: Rs 960 crore

Closing Date: December 20

Motisons Jewellers IPO:

Opening Date: December 18

Price Band: Rs 52-55 per share

Fundraising Target: Rs 151 crore

Closing Date: December 20

Suraj Estate Developers IPO:

Opening Date: December 18

Price Band: Rs 340-360 per share

Fundraising Target: Rs 400 crore

Closing Date: December 20

Happy Forgings IPO:

Opening Date: December 19

Price Band: Rs 808-850 per share

Fundraising Target: Rs 1,009 crore

Closing Date: December 21

RBZ Jewellers IPO:

Opening Date: December 19

Price Band: Rs 95-100 per share

Fundraising Target: Rs 100 crore

Closing Date: December 21

Credo Brands Marketing IPO:

Opening Date: December 19

Price Band: Rs 266-280 per share

Fundraising Target: Rs 549.78 crore

Closing Date: December 21

Azad Engineering IPO:

Opening Date: December 20

Price Band: Rs 499-524 per share

Fundraising Target: Rs 740 crore

Closing Date: December 22

Innova Captab IPO:

Opening Date: December 21

Price Band: Rs 426-448 per share

Fundraising Target: Rs 570 crore

Closing Date: December 26

Listings Next Week:

Mainboard Segment:

Doms Industries and India Shelter Finance Corporation will list on December 20.

Inox India will debut on December 21.

SME Segment:

Presstonic Engineering and S J Logistics (India) will debut on NSE Emerge on December 18 and December 19, respectively.

Shree OSFM E-Mobility will list shares on December 21.

Trading in Siyaram Recycling Industries and Benchmark Computer Solutions shares on the BSE SME will commence on December 21.

The IPO frenzy is expected to continue into the next year, with over 65 IPO filings already with SEBI.