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The primary market is set to witness a flurry of activity next week, led by the highly anticipated IPO of Hyundai Motor India, which aims to raise over Rs 27,000 crore, marking the largest offering in the market to date. This will be a significant event for the Indian automotive sector, as Hyundai Motor India becomes the first automaker in two decades to go public since Maruti Suzuki's listing in 2003.
Apart from Hyundai's IPO, the primary market will also see two SME IPOs from Lakshya Powertech and Freshara Agro. Lakshya Powertech, an engineering consultancy specializing in mechanical and electrical services, plans to raise Rs 50 crore through its IPO, priced in the range of Rs 171-180 per share. Freshara Agro Exports, a company focused on agricultural exports, aims to raise Rs 75 crore through its IPO, priced between Rs 110-116 per share. These smaller IPOs provide an opportunity for investors to diversify their portfolios.
The week will also see three listings, including Garuda Construction, whose IPO opened last week and received a decent response from investors, with an overall subscription of 7.55 times at close. This positive reception suggests investor confidence in the Indian construction sector and its potential for growth. The upcoming listings highlight the robust activity in the primary market, with a promising pipeline for the second half of the year.
With 26 companies awaiting Sebi approval to raise Rs 72,000 crore and another 55 companies seeking approval to raise Rs 89,000 crore, the IPO market appears poised for a record-breaking year. Unless unforeseen circumstances occur, the momentum is expected to continue, offering investors a diverse range of investment opportunities across various sectors.
Source: IPO Calendar: Hyundai India and 2 other issues set to light up primary market next week