IPO Update: The major market has been witnessing greater actions for the previous few months. During the week between October 28 and November 3, three mainboard IPOs — Cello World, Honasa Consumer and ESAF Small Finance Bank — opened to lift Rs 4,064 crore. The subsequent week additionally seems to be promising, the main focus is on Protean eGov Technologies and ASK Automotive, that are anticipated to lift Rs 1,324 crore by the affords.
Mahavir Lunawat, managing director of Pantomath Capital Advisors, mentioned, “In the primary market during the week October 28-November 3, mainboard IPOs of Cello World, Honasa Consumer and ESAF Small Finance Bank opened to raise Rs 4,064 crore.”
In phrases of the variety of IPOs, India’s share within the world pie has elevated sharply. In 2021, the nation’s share within the whole variety of IPOs globally stood at 6 per cent. It surged to 11 per cent in 2022. In the primary half of 2023, India’s share within the variety of world IPOs has rose to 13 per cent, he mentioned.
India’s IPO sector is booming with the nation rising as the worldwide chief within the variety of public affords this 12 months. The stampede to market is anticipated to maintain going effectively into 2024 with buyers inspired by sturdy itemizing features and a sturdy financial system. This month alone, there are 14 IPOs slated.
“Next week looks promising, the focus is on Protean eGov Technologies and ASK Automotive are opening to raise Rs 1,324 crores of funds. So far, during 2023 YTD, 39 IPOs hit the street and raised Rs 35,131.96 crore ($4.22 billion),” Lunawat mentioned.
ESAF Small Finance Bank IPO
The preliminary public provide of ESAF Small Finance Bank obtained subscribed by 1.74 instances on the primary day of subscription on Friday. The Rs 463-crore preliminary share sale obtained bids for 10,02,26,500 shares in opposition to 5,77,28,408 shares on provide, as per NSE information.
The class for non-institutional buyers obtained subscribed 2.44 instances whereas the quota for Retail Individual Investors (RIIs) obtained 1.97 instances subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 90 per cent. The Initial Public Offering (IPO) has a recent difficulty aggregating as much as Rs 390.7 crore and provide on the market (OFS) of as much as Rs 72.3 crore.
