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The primary market is set to be abuzz next week with a total of eight IPOs, including the highly anticipated offering from Waaree Energies. This solar energy company's IPO will open for subscription on October 21 and close on October 23, with a price band set between Rs 1,427 and Rs 1,503 per share. Analysts anticipate strong investor interest, potentially leading to a multibagger listing. Waaree Energies plans to utilize the funds raised to establish a 6 GW manufacturing facility in Odisha and to support general corporate activities.
Deepak Builders and Engineers, an engineering and construction firm, will also launch its IPO during the same period. Their offering will be a combination of fresh equity and an offer for sale (OFS) of shares, with a price band fixed at Rs 192 to Rs 203 per share. The IPO funds will be used to meet the company's working capital requirements, pay off debt, and support general corporate purposes.
Godavari Biorefineries is another company entering the IPO market, with their offering set to open on October 23 and close on October 25. The price band for their IPO is Rs 334 to Rs 352 per share. Proceeds from the fresh issue will be used to repay debt and for general corporate purposes.
Beyond these three mainboard listings, five SME companies will also launch their IPOs next week. The IPO pipeline for the second half of the year appears robust, with 26 companies planning to raise Rs 72,000 crore, and another 55 companies aiming to raise Rs 89,000 crore, all pending approval from the Securities and Exchange Board of India (SEBI). This positive momentum suggests that the IPO market is on track to witness a record-breaking year, barring any unforeseen events.
Source: IPO Calendar: Waaree Energies among 8 IPOs to keep primary market buzzing next week