Dalal Street is set for a busy week as six new Initial Public Offerings (IPOs) are slated to open for subscription, collectively targeting to raise approximately ₹10,300 crore from investors. This significant activity in the primary market comes just ahead of the much-anticipated mega IPO of Jio Platforms, which is expected to be India's largest-ever public offering with a fundraising goal of ₹30,200 crore.
October Sees Surge in IPO Activity
The six IPOs opening this week contribute to a total fundraising of ₹40,500 crore in October so far, signaling robust investor interest. Market experts like Trivesh D, COO of Tradejini, note a healthy IPO pipeline, though he emphasizes that the quality of issuers and their pricing will be crucial for investor demand amidst potential market volatility.
Key IPOs Opening This Week: Dates and Details
Four of the six IPOs will open on Thursday, October 15, and close on Monday, October 19. The remaining two will open on Tuesday and Wednesday, respectively.
HD Fire Systems
- Opening Date: Tuesday, October 13
- Closing Date: Thursday, October 15
- Target Raise: ₹712 crore (entirely Offer For Sale - OFS)
- Price Band: ₹258–271 per share
- Lot Size: 55 equity shares
- GMP Indication: ₹80-85, suggesting 29-31% listing gains.
Fusion CX
- Opening Date: Wednesday, October 14
- Target Raise: ₹702 crore (₹500 crore fresh issue, ₹202 crore OFS)
- Price Band: ₹275–289 per share
- Lot Size: 51 equity shares
- GMP Indication: ₹14-15, suggesting 4-5% listing gains.
Zetwerk Manufacturing Business
- Opening Date: Thursday, October 15
- Target Raise: ₹5,012 crore
- Price Band: ₹143–151 per share
- Lot Size: 99 equity shares
- GMP Indication: ₹15, suggesting 10% listing gains.
Bonfiglioli Transmissions
- Opening Date: Thursday, October 15
- Target Raise: ₹2,534 crore (OFS by parent entity)
- Price Band: ₹558–586 per share
- Lot Size: 25 equity shares
- GMP Indication: ₹150-155, hinting at 25-26% listing gains.
Tonbo Imaging India
- Opening Date: Thursday, October 15
- Target Raise: ₹852 crore (entirely OFS)
- Price Band: ₹665–700 per share
- Lot Size: 21 equity shares
- GMP Indication: ₹340-350, suggesting up to 50% listing gains.
Sahajanand Medical Technologies
- Opening Date: Thursday, October 15
- Target Raise: ₹475 crore (entirely OFS)
- Price Band: ₹327–344 per share
- Lot Size: 43 equity shares
- GMP Indication: ₹45-50, signaling 13-14% listing pop.
Kotak Institutional Equities analysis highlights strong investor enthusiasm for small- and mid-sized companies (SMIDs) in recent months. However, the report cautions that these companies must deliver on high expectations embedded in their valuations to sustain this interest.
"Valuations, financial performance, growth outlook and the intended use of IPO proceeds will play an important role in determining investor interest," said Trivesh D, COO of Tradejini.
Investors will be closely watching the performance of these new listings as the Indian primary market continues to attract significant capital.