Tata Tech, IREDA, and 4 Other Companies Set to Raise ₹7,400 Crore – IPOs Opening Next Week
IPO Next Week
In the upcoming business week commencing on Monday, November 20, the Indian financial landscape is poised for significant activity with six notable companies preparing to raise substantial funds, collectively totaling around Rs 7,400 crore.
The prominent players entering the market through Initial Public Offerings (IPOs) include Tata Technologies, marking a historic moment as the Tata Group’s first public offering in nearly two decades.
Another significant entrant is the Indian Renewable Energy Development Agency (IREDA), a government-backed Mini Ratna company.
Additionally, Gandhar Oil Refinery India, Fedbank Financial Services, Flair Writing Industries, and Rocking Deals Circular Economy are gearing up for their respective IPOs, each bringing unique offerings to the market.
Tata Technologies IPO:
Tata Technologies, based in Pune, is a global engineering services company with a market capitalization exceeding Rs 20,000 crore.
The company is set to open its maiden IPO on November 22, with the subscription window closing on November 24.
Investors can participate in the IPO within a price band of Rs 475-500 per share. This marks a significant event for the Tata Group, as it is the conglomerate’s first IPO since TCS went public in 2004. The IPO aims to raise a substantial Rs 3,042.51 crore through an Offer for Sale (OFS).
The key stakeholders in the OFS include prominent entities like Tata Motors, Alpha TC Holdings Pte Ltd, and Tata Capital Growth Fund.
As part of the IPO process, the engineering giant plans to issue fresh shares and facilitate the sale of existing shares by the aforementioned stakeholders.
This strategic move is expected to infuse capital into Tata Technologies, enabling it to pursue growth opportunities and further solidify its position in the competitive engineering services sector.
Indian Renewable Energy Development Agency IPO:
IREDA, a government-backed financial institution specializing in supporting new and renewable energy projects, is gearing up for its IPO, making it the first government offering since LIC in May 2022.
As a Mini Ratna company, IREDA’s IPO is part of the broader trend, with the market witnessing five IPOs in the mainboard segment.
The subscription for IREDA’s IPO opens on November 21 and closes on November 23, featuring a price band of Rs 30-32 per share.
IREDA aims to raise a significant Rs 2,150.21 crore by offering 67.19 crore equity shares through the public issue. The IPO comprises a fresh issue of 40.31 crore equity shares by the company, valued at Rs 1,290.13 crore, and an Offer for Sale (OFS) of 26.87 crore shares by the government, valued at Rs 860.08 crore.
The anchor book for the IPO is set to open on November 20, a day before the public issue becomes available for subscription.
Gandhar Oil Refinery India IPO:
Mumbai-based Gandhar Oil Refinery India, a white oil manufacturer with a focus on the consumer and healthcare industries, is gearing up for its IPO scheduled from November 22 to 24.
The price band for this offering is fixed at Rs 160-169 per share. The company aims to raise Rs 500.69 crore through the IPO, with a fresh issue of Rs 302 crore and an Offer for Sale (OFS) of Rs 198.69 crore.
The IPO involves the sale of 1.17 crore equity shares by promoters, including Ramesh Baboolal Parekh, Kailash Parekh, and Gulab Parekh.
This strategic move is expected to propel Gandhar Oil Refinery India into its next phase of growth, enabling it to capitalize on emerging opportunities in the consumer and healthcare sectors.
The IPO is anticipated to attract investors keen on participating in the growth story of a company with a focus on essential industries.
Fedbank Financial Services IPO:
Fedbank Financial Services, a non-banking financial company, is set to kick off its IPO bidding from November 22, with the window remaining open until November 24.
The company aims to raise Rs 1,092.26 crore through the public issue, featuring a price band of Rs 133-140 per share. The IPO consists of new shares worth Rs 600 crore and an Offer for Sale (OFS) of 3.5 crore equity shares worth Rs 492.26 crore.
The selling promoters and shareholders include The Federal Bank and investor True North Fund VI LLP, a private equity fund.
The capital infusion from the IPO is expected to fortify Fedbank Financial Services’ position in the non-banking financial sector, enabling it to pursue strategic initiatives and expand its market presence. Investors are likely to closely monitor this IPO, considering the company’s standing in the financial services landscape.
Flair Writing Industries IPO:
Flair Writing Industries, a Mumbai-based stationery manufacturer, is set to open its IPO for bidding from November 22 to 24, with a fixed price band of Rs 288-304 per share.
The company aims to raise Rs 593 crore from its first public issue, which includes a fresh issue of Rs 292 crore and an Offer for Sale (OFS) of Rs 301 crore by the Rathore family.
The IPO is a significant move for Flair Writing Industries, positioning itself for growth in the competitive stationery market.
With a focus on manufacturing high-quality writing instruments and stationery products, the IPO is expected to garner attention from investors seeking exposure to the consumer goods sector. The anchor book for the IPO is set to open on November 21, a day before the public subscription begins.
Rocking Deals Circular Economy IPO:
Rocking Deals Circular Economy, a B2B re-commerce company operating in the SME segment, is set to launch its public issue on November 22, with the offering closing on November 24.
The IPO features a price band of Rs 136-140 per share, with the company aiming to raise Rs 21 crore through a fresh issue.
Specializing in the bulk business of excess inventory, open-boxed inventory, re-commerce products, and refurbished products, Rocking Deals Circular Economy is tapping into the growing market for sustainable and circular economy practices.
The funds raised from the IPO are expected to support the company’s expansion plans and strengthen its position in the re-commerce segment.
In conclusion, the upcoming week in the Indian financial market is poised for substantial activity with these six companies set to make their mark through IPOs.
Investors, analysts, and market enthusiasts are keenly watching these offerings, each with its unique value proposition and growth potential.
As the companies embark on this journey to raise capital from the public markets, the IPOs are not only a means of financial growth for the entities involved but also an opportunity for investors to be part of their future success stories.
