‘Multiple Firms Eye Over Rs 20,000 Crore Through Initial Share Sales in September'
A significant number of companies are looking to collectively raise approximately Rs 20,000 crore from the stock market this month through initial public offerings (IPOs). Several firms will launch their initial share sales during the ongoing week itself.
Some of the major IPOs expected to debut shortly include Bajaj Housing Finance, a large housing financier targeting Rs 6,560 crore. The issue recently opened for subscription and will close by the end of this week. Furthermore, PN Gadgil Jewellers also aims to mop up Rs 1,100 crore through its initial share sale. The jewellery retailer has priced its shares between Rs 456-480.
Additionally, Kross Ltd, a manufacturer of automotive components, launched its IPO recently seeking Rs 500 crore. The issue will remain open until mid-week. Tolins Tyres too launched an issue to raise Rs 230 crore, with its stock price pegged at Rs 215-226. Prior to this, Shree Tirupati Balajee Agro concluded its Rs 170 crore issue last week.
Several smaller firms are also entering the market, such as Vision Infra Equipment Solutions, Aditya Ultra Steel, Trafiksol ITS Technologies and others targeting up to Rs 100 crore each. If market conditions remain stable, experts forecast total funds raised through IPOs could exceed Rs 1.5 lakh crore in the coming year. Investor interest in primary issuances continues to inspire confidence.
