The Indian primary market is set to witness a surge in activity next week, with four new issues and five listings expected to keep the momentum thriving. This development is significant, given the current global economic uncertainty and geopolitical tensions. The IPO calendar for the upcoming week includes several notable names, each with the potential to make a substantial impact on the market.
Interarch Building Products IPO
One of the most anticipated IPOs is that of Interarch Building Products, a steel construction solution provider. The company has announced a price band of Rs 850-900 for its Rs 1,186 crore IPO, which will open on August 19 and close on August 21. The IPO consists of a fresh issue of shares worth Rs 200 crore and an offer for sale (OFS) of up to 44.48 lakh shares with a face value of Rs 10 per share. At the upper price band of Rs 900, the OFS would be worth about Rs 400.28 crore. Under the OFS, Arvind Nanda, Gautam Suri, Ishaan Suri, Shobhna Suri, and OIH Mauritius Limited will offload their part stakes. Ambit and Axis Capital are the book running lead managers to the issue, while Link Intime India is the registrar to the offer.
Orient Technologies IPO
Another notable IPO is that of Orient Technologies, an IT solutions provider. The company has announced a price band of Rs 195-206 for its IPO, which opens for subscription on August 21 and closes on August 23. The IPO aims to raise Rs 215 crore through the issue of fresh equity worth Rs 120 crore and an offer for sale (OFS) of 46 lakh shares. Under the OFS, promoters Ajay Baliram Sawant, Umesh Navnital Shah, Ujwal Arvind Mhatre, and Jayes Manharlal will be offloading their part stakes. Elara Capital is acting as the sole book running lead manager for the IPO, while Link Intime India is the registrar.
SME Segment IPOs
In the SME segment, both the IPOs of Forcas Studio and Brace Port Logistics will open for subscription on August 19. These issues will close on August 21. Forcas Studio has priced its issue at Rs 77-80 apiece, while Brace Port Logistics has not disclosed its price band yet. These SME IPOs are expected to bring in significant funds for the companies, further bolstering the primary market.
Upcoming Listings
The upcoming listings include Saraswati Saree Depot, whose IPO received a robust response from investors this week. The current healthy IPO trend looks set to continue, with 25 more companies already approved by the Securities and Exchange Board of India (SEBI) planning to enter the market to raise about Rs 22,000 crore in the coming few weeks.
Market Outlook
India’s IPO success story is taking shape amidst global economic uncertainty and geopolitical tensions. Whether the country can sustain this momentum will depend on several factors, including economic growth, the regulatory landscape, and global market trends. The current market conditions, characterized by stable interest rates and a recovering stock market, are favorable for IPO activity. Investors are optimistic about the potential for continued growth and the opportunities that these new listings and IPOs will bring.
Conclusion
The upcoming IPO calendar is packed with exciting opportunities for investors. The IPOs of Interarch Building Products and Orient Technologies, along with the SME segment IPOs of Forcas Studio and Brace Port Logistics, are expected to drive the primary market forward. The listings of Saraswati Saree Depot and other companies will further enhance the market’s momentum. As the market continues to evolve, it is crucial for investors to stay informed and make strategic decisions based on the latest developments.