MUMBAI - The Indian primary market has witnessed a surge in activity this week with five public offerings, including those from Gopal Snacks and Tata Tech, drawing substantial investor interest with combined subscriptions totaling ₹1.5 lakh crore. The momentum is set to continue with several anticipated initial public offerings (IPOs) lined up for the coming days.
Investors have shown a keen appetite for new listings, as evidenced by the active qualified institutional buyer (QIB) participation, particularly in the green financier quota of IREDA.
The upcoming week looks promising for the small and medium enterprise (SME) sector, with five launches on the horizon. These include:
- Graphisads starting at ₹53.4 crore from November 30 to December 5.
- Net Avenue Technologies offering ₹10.26 crore from November 30 to December 4.
- Deepak Chemtex at ₹23.04 crore from November 29 to December 1.
- AMIC Forging with ₹34.8 crore also from November 29 to December 1.
- Swashthik Plascon beginning today and available until November 29, seeking ₹40.7 crore.
Market analysts are optimistic about these SME IPOs, buoyed by favorable grey market forecasts that suggest potential gains ranging between 23-78%. This optimism persists despite a mixed response to some listings, such as Fedbank Financial Services which saw a lackluster subscription response.
On the other hand, companies like Gandhar Oil Refinery and Flair Instruments have garnered attention for their commanding market presence and are considered high-demand prospects.
The Indian IPO landscape continues to be a hotbed of activity as companies across various sectors seek to capitalize on investor enthusiasm and favorable market conditions, setting the stage for what could be an eventful close to the year in the equity markets.
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