Following October's massive fundraising surge, public offering activity is downshifting significantly with only a single SME issue slated to collect bids. Investor focus will instead rotate to the secondary market as thirteen recently subscribed companies initiate exchange trading. Bombay Coated & Special Steels leads the incoming debuts with its Rs 183.06 crore fresh issue aiming to clear company debt and purchase equipment. The rest of the week will see a steady pipeline of both mainboard and SME entrants finalizing their market debuts through November 6.
Key points
New capital-raising efforts are slowing down considerably after Jio Platforms completed i…: New capital-raising efforts are slowing down considerably after Jio Platforms completed its record Rs 30,188 crore initial public offering.
Bombay Coated & Special Steels plans to allocate its fresh capital toward clearing outsta…: Bombay Coated & Special Steels plans to allocate its fresh capital toward clearing outstanding borrowings and purchasing machinery.
Bidding for the lone incoming issue, Vedant Poly Fabs, closes on November 4 ahead of its…: Bidding for the lone incoming issue, Vedant Poly Fabs, closes on November 4 ahead of its tentative NSE SME listing on November 9.
Sources checked by our analysis pipeline: 1
Vedant Poly Fabs, a small and medium enterprise (SME), will be the only new company opening its IPO next week. Meanwhile, six companies whose public issues are currently open, including mainboard player Bombay Coated & Special Steels, are scheduled to list on the exchanges during the week.
The slowdown follows a busy October for India's primary market, highlighted by Jio Platforms' Rs 30,188 crore IPO, the largest in the country's history.
Mukesh Ambani-led Jio made its stock market debut on October 28 at Rs 1,358, a premium of 21.36% over its issue price of Rs 1,119. The blockbuster offering attracted bids worth Rs 4.9 lakh crore in the public book and was subscribed more than 22 times.
The coming week will see investors turn their attention towards the final subscription days of existing issues and the listing performance of recently concluded offerings.
Vedant Poly Fabs IPOThe Rs 56.68 crore IPO of Vedant Poly Fabs will open for public subscription on Monday, November 2, and close on Wednesday, November 4. The company has fixed a price band of Rs 88-94 per…
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