IPO
Good news for IPO investors. Next week, 8 new IPOs in the primary market will open for subscription, including six IPOs in the SME segment. Apart from these new issues, there will also be six IPO listings in the stock market. In the mainboard segment, IPOs of Ajax Engineering and Hexaware Technologies will open to investors. Let’s take a look at the movement of the next week IPO market.
Ajax Engineering IPO
The IPO of concrete equipment manufacturer Ajax Engineering will open for subscription on 10 February. The company has fixed a price band of Rs 599-629. The IPO includes the sale of 2.01 crore equity shares by the existing shareholders, which has no new issue. As a result, the offer will be allocated to the shareholders selling the entire income (except the proposal expenses). Ajax, which is one of the three largest manufacturers of SLCM in the world, is about 75% market share in the SLCM market in India.
Hexaware Technologies iPo
Hexavier technologies are bringing an IPO of Rs 8,750 crore with a price band of Rs 674-708 per share. The IPO is completely OFS, in which Promoter Carlile is selling its stake. After the IPO, Carlile’s stake will decrease from the current 95% to 74.1%. Retail investors can bid for at least 21 shares, for which at least Rs 14,868 will have to be invested. This will be the largest IPO of an Indian IT service company, which will cross the TCS’s offer of Rs 4,713 crore in 2004. Hexavier is returning to Dalal Street after five years, after being a delist in September 2020 when its promoters accepted a delisting price of Rs 475 per share. For the first nine months of 2024, the top five customers of Hexaware contributed 25.8% to the revenue, while the top 10 was 35.7% of the 10.
Six sme IPOs will open next week
In the SME segment, 6 IPOs including Chandan Healthcare, PS Raj Steels, Voller Car, Maxvolt Energy, LK Mehta Polymer and Shanmuga Hospital will open for subscriptions. Of these, Chandan Healthcare is the largest company, which plans to raise Rs 107 crore, followed by Maxwolt Energy, which is planning to raise Rs 54 crore.
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