IPO calendar: 6 new issues, 5 listings to keep primary market busy next week

IPO calendar: 6 new issues, 5 listings to keep primary market busy next week

The Indian IPO market continues to be buoyant with six public offers set to open next week. Analysts said the relentless primary market activity is backed by optimistic investor sentiment, a robust economy, expectations of lower inflation and rate cuts in 2024.

In the week gone by, two mainboard IPOs Juniper Hotels and GPT Healthcare opened with a target to raise Rs 2,325 crore.

Next week, the issues of Platinum Industries, Exicom Tele Systems and Bharat Highways Invit aim to raise over Rs 3,000 crore next week in the mainboard segment. Meanwhile, the SME will see IPOs of Purva Flexipack, Owais Metal and Mineral processing and MVK Agro Food Product.

Apart from the six new IPOs, the Street will also see five listings of Juniper Hotels, GPT Healthcare, Deem Roll Tech, Zenith Drugs and Sadhav Shipping.

All you need to know about IPOs next week

Exicom Tele Systems

Exicom Tele Systems has fixed a price band of Rs 135-142 for its public offer, which will open for subscription on February 27 and close on February 29. The company aims to raise about Rs 429 crore through the IPO.

The IPO is a combination of fresh equity issue worth Rs 329 crore and an offer for sale of 70.42 lakh shares.

At the upper price band, the post issue implied market cap is around Rs 1,716 crore. Investors can make bids for 100 shares in one lot and in multiples thereafter.

About 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 10% for retail investors.

Exicom Tele Systems is a power management solutions provider, operating under two business verticals. Under the critical power solutions business, it designs, manufactures and services DC Power Systems and Li-ion based energy storage solutions to deliver overall energy management at telecommunications sites and enterprise environments.

Platinum Industries

The initial public offering (IPO) of Platinum Industries will open for subscription on February 27 and will be available for the public to bid till February 29.

The Rs 235 crore IPO is completely a fresh equity sale of 1.37 crore shares, which are being offered at Rs 162-171 per share.

Platinum Industries is a multi-product company engaged in the business of manufacturing stabilizers. The business segment includes PVC stabilizers, CPVC additives and lubricants.

Bharat Highways Invit

Bharat Highways Invit, an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India, has priced the IPO in the range of Rs 98-100 per unit with the issue opening on February 28.

The infra investment trust is offering units worth Rs 2,500 crore through the IPO.

The issue is being made through the book building process, wherein about 75% will be available for allocation on a proportionate basis to institutional investors, and 25% will be available for non-institutional investors.

SME segment

The SME segment will see IPOs of Purva Flexipack, Owais Metal and Mineral processing and MVK Agro Food Product next week.

The issue of Owais Metal will open for subscription on February 26 and that of Purva Flexipack will kick off from February 27. Both the IPOs aim to raise just over Rs 40 crore.

MVK Agro Food Product, on the other hand, is launching its IPO on February 29 and is planning to raise about Rs 66 crore through it.

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