The primary market is going to see three new companies launching their initial public offerings (IPOs) in the coming truncated week starting from November 11, including one from the mainboard segment.

The fundraising size of these three companies via their IPOs will be less compared to IPOs launched last couple of weeks, but the activity remains strong despite subdued sentiment in the equity markets that stayed under pressure amid consolidation. These companies target to raise Rs 1,173.3 crore through IPOs next week, against Rs 18,500 crore worth of IPOs launched last week including Swiggy's Rs 11,327-crore initial share sale.

Zinka Logistics Solutions IPO

This will be the first and only IPO from the mainboard segment opening next week. The venture capital firms Peak XV Partners Investments, and VEF AB-backed company that offers a digital platform, the BlackBuck app, for truck operators will open its maiden public issue for subscription on November 13 and close on November 18, with a price band at Rs 259- 273 per share

It plans to raise Rs 1,114.72 crore via IPO which comprises of fresh issue of shares worth Rs 550 crore, and an offer-for-sale of 2.07 crore shares worth Rs 564.72 crore at the upper price band.

Mangal Compusolution IPO

The other two public issues will be from the SME segment. The Rs 16.23 crore initial share  sale of the hardware rental solutions company will open on November 12, with an issue price of Rs 45 per share. It is a fixed-price issue, closing on November 14.

Onyx Biotech IPO 

Onyx Biotec which offers sterile pharmaceutical products to several pharma companies plans to mobilise Rs 29.34 crore through its initial public offering of 48.1 lakh equity shares  at the upper end of the price band of Rs 58-61 per share. The subscription for this IPO will begin on November 13, and close on November 18.

IPOs Closing Next Week

From the mainboard segment, health insurer Niva Bupa Health Insurance Company  will close Rs 2,200-crore initial share sale on November 11. In last two days of subscription, it was already fully subscribed with bids at 1.17 times over the offer size from the SME segment will also close its Rs 13-crore IPO next week on November 12. The offer was so far bought 2.38 times.

Listings Next Week

Healthcare-focused solution provider Sagility India will be the first to list on the bourses in the mainboard segment next week, on November 12. The issue was subscribed 3.2 times during November 5-7.

Food delivery giant Swiggy and electricity producer ACME Solar Holdings will debut on the bourses on November 13, after getting 3.59 times and 2.75 times subscription, respectively,, while the trading in Niva Bupa Health Insurance Company shares will start effective November 14.

Shares of all these companies are not trading at any major premium in the grey market, the market observers said.

Published On - November 10, 2024 / 10:32 IST

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