India’s primary market is set for a busy week, with five companies launching their initial public offerings (IPOs) between 26 October and 29 October, aiming to raise nearly ₹2,600 crore. The upcoming issues span alternative investments, polymers, environmental technology, jewellery retail and steel processing, offering investors exposure to a diverse mix of businesses.
EAAA India Alternatives, an arm of Edelweiss Financial Services, will kick off the week with the largest offering, a ₹1,200-crore IPO. SFC Environmental Technologies will follow with a ₹667.53-crore issue, while M.K. Sons Fine Jewels, BLS Polymers and Bombay Coated and Special Steels will also tap the market.
The issues have different objectives: while some companies are raising fresh capital to fund expansion, working capital and debt repayment, others are offering existing shareholders an opportunity to sell their stakes.
Here’s a closer look at the five IPOs, GMPs, their issue sizes, price bands, subscription dates and use of proceeds.
EAAA India Alternatives IPO GMP today, or grey market premium, is +36. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of EAAA India Alternatives share price was indicated at ₹1,701 apiece, which is 2.16% higher than the IPO price of ₹1,665.