The Initial Public Offering (IPO) market remains vibrant as 72 companies, including 28 mainboards and 44 Small and Medium Enterprises (SMEs), have launched their issues in 2023. The surge is attributed to strong listing gains, ample liquidity, and increased retail investor participation. In September alone, 10 firms have initiated public offerings.
According to BSE data, out of the 72 IPOs launched this year, 62 have generated positive returns for investors, with 55 companies experiencing gains on their listing day. The upcoming week is expected to be eventful for the primary market with three mainboard IPOs and 19 SME issues slated to open for subscription, aiming to collectively raise approximately ₹4,200 (Rs 1 crore = $120,316) crore.
JSW Infrastructure, Updater Services, and Valiant Laboratories are among the mainboard IPOs. The SME segment will see IPO launches from Vishnusurya Projects, Digikore Studios, Arabian Petroleum, Newjaisa Tech, Inspire Films, Saakshi Medtech, Sunita Tools, Goyal Salt, Canarys Automations, Oneclick Logistics, Vinyas Innovative Tech, E-factor Experiences among others.
Updater Services' IPO opened on Monday and is set to close on Wednesday. The price band for the equity shares of this facility management and business support services firm has been set at ₹280 to ₹300 per share. This could generate ₹640 crore at the upper end of the offer price. Of this amount, ₹400 crore will be raised through fresh equity issuance while the remaining ₹240 crore will come from an offer for sale (OFS). Prior to the IPO, Updater Services raised ₹288 crore from 18 anchor investors at the upper price band of ₹300 ($1 = ₹83.1) per share.
JSW Infrastructure's IPO also opened for subscription on Monday with a price band of ₹113-119 per share. The entirely fresh issue of 23.53 crore shares could result in an issue size of ₹2,800 crore at the upper end of the price band. The company plans to use the IPO proceeds for debt repayment and expansion of Jaigarh Port, owned by its subsidiary, JSW Jaigarh Port.
Valiant Laboratories, a Mumbai-based pharmaceutical company, will open its ₹152.46-crore IPO for subscription on Wednesday. The public offer consists of a fresh issue of 1.09 crore equity shares with no offer for sale portion in the IPO.
In the SME segment, thirteen companies are set to launch their issues this week. Arabian Petroleum, Digikore Studios, Newjaisa Tech, Inspire Films, and Saakshi Medtech opened their subscriptions on Monday. Other SMEs such as Sunita Tools, City Crops Agro, Goyal Salt, Canarys Automations, Oneclick Logistics, Vinyas Innovative Tech, Kontor Space, Vivaa Tradecom, and E-factor Experiences will open their IPOs in the coming days.
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