IPO Updates: After the ‘flood’ of initial public offerings (IPO news) in recent weeks, there will be a slight slowdown in the primary market. Only two IPOs are coming this week, through which around Rs 365 crore will be raised. In September, there were 12 IPOs on the main platform and 40 IPOs in the SME (Small and Medium Enterprises) section (IPO News). Next week, starting from October 7, the IPO of Garuda Construction and Engineering (Garuda Construction IPO) and Shiv Texchem IPO on the SME segment are to come on the main stage.
Both IPOs will open on October 8
Garuda Construction wants to raise Rs 264 crore through IPO. Garuda Construction’s IPO will open on October 8 and close on October 10. Shiv Texchem aims to raise over Rs 101 crore through its IPO during October 8-10.
Also read: This multibagger share is going to be divided into 2 pieces, money doubled in 1 year
IPO of 26 companies has been approved
The stock market has fallen significantly since the beginning of October due to the increasing conflict between Israel and Iran. According to PrimeDatabase, despite the temporary slowdown, the overall outlook for the IPO market is positive. Currently 26 companies have Securities and Exchange Board of India (SEBI) approval for IPO, through which they want to raise Rs 72,000 crore. Apart from this, IPO proposals of 55 companies are under consideration with SEBI. These companies plan to raise Rs 89,000 crore through IPO.
Hyundai’s IPO may come on October 14
This month, Hyundai Motor India Limited, the Indian arm of South Korean auto major Hyundai, will enter the primary market to raise about Rs 25,000 crore. According to sources, the IPO of the company may come on October 14. It is believed that Hyundai’s IPO will be the largest public issue ever. Earlier this record was in the name of Life Insurance Corporation of India (LIC), whose IPO size was Rs 21,000 crore.
Apart from this, so far this year, 63 companies have raised Rs 64,000 crore through main segment IPOs, which is 29 percent of the amount of Rs 49,436 crore raised by 57 companies through this route in 2023.
(This is not investment advice. The stock market is subject to risks. Consult experts before making any investment.)
