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The Indian initial public offering (IPO) market continues to be active, with several companies preparing to list their shares on the stock exchanges. While September saw a flurry of IPO activity, October is expected to be a quieter month. However, there are still a few notable IPOs scheduled for the second week of October, covering both the mainboard and the SME (Small and Medium Enterprises) segment.
One of the mainboard IPOs to watch is Garuda Construction and Engineering. The company is aiming to raise Rs 264.10 crore through a combination of fresh share issuance and an offer for sale (OFS). The IPO price band is set between Rs 92 and Rs 95 per equity share. The offer is scheduled to open on October 08 and close on October 10. Allotment of shares is expected on October 11, with listing on the stock exchange anticipated on October 15.
In the SME segment, two companies are set to launch their IPOs next week. Khyati Global Ventures, an exporter and repacker of FMCG products, will raise Rs 18.30 crore through a combination of fresh issue and an offer for sale. The fixed price band for the IPO is Rs 99 per share. The offer is already open, starting on October 04, and will close on October 08. Allotment is likely to be finalized on October 09, with listing on the BSE SME platform expected on October 11.
The other SME IPO to watch is Shiv Texchem, a company involved in importing and distributing hydrocarbon-based chemicals. The company plans to raise Rs 101.35 crore through a fresh share issuance of 6.1 million shares. The IPO price band is set between Rs 158 and Rs 166 per equity share. The offer is scheduled to open on October 08 and close on October 10. Allotment is expected on October 11, with listing on the BSE SME platform anticipated on October 15.
Looking ahead, October is expected to witness two significant IPOs. Hyundai Motor India is planning to launch India's largest ever IPO, aiming to raise Rs 25,000 crore. This would be the first IPO from an automaker in almost two decades, with the last one being Maruti Suzuki in 2003. Hyundai India's IPO will be an offer for sale of 142.19 million shares.
Finally, food delivery platform Swiggy is also poised to launch its IPO, aiming to raise up to Rs 11,664 crore. The company recently received shareholder approval to increase the IPO size to include a fresh capital raise of Rs 5,000 crore, in addition to an offer for sale of Rs 6,664 crore. The IPO is expected to hit the market later in October.
These upcoming IPOs provide investors with various opportunities to participate in the growth of these companies. However, it's crucial for investors to conduct thorough research and understand the risks involved before making any investment decisions.
Source: Upcoming IPOs to watch next week: From Garuda Construction to Shiv Texchem