Indian companies rush to list on the bourses
Besides MTAR, a bunch of other Indian firms are also waiting to launch their initial public offerings.
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2021 is expected to be a blockbuster year for IPOs in India as homegrown startups, as well as small and medium businesses, look to give its investors valuable ‘exits’.
Cumulatively, IPOs raised around Rs 30,000 crore in capital in 2020, more than double of the Rs 12,362 crore it had raised in 2019. Experts reckon this year is going to be as big or even bigger.
The latest to head the IPO way is Hyderabad-based engineering company MTAR Technologies, which listed on the bourses on Monday at an 85.03 percent premium of its issue price of Rs 575.
The initial public offering (IPO) Anupam Rasayan is currently underway. Apart from these, nine companies have already floated their initial share-sales so far.
IPOs 2021: There are as many as 5 IPOs set to hit the market this week. Craftsman Automation and Laxmi Organics Industries will launch their initial share-sale programmes on Monday, while that of Kalyan Jewellers India will open on Tuesday.
Craftsman Automation, Laxmi Organics Industries, Kalyan Jewellers India, Suryoday Small Finance Bank, and Nazara Technologies are set to come out with IPOs, seeking to benefit from an equity market flush with liquidity.
The benchmark indices ended the highly volatile session last week nearly 1% higher with Nifty50 settling above the psychologically important 15,000 mark. This week, Indian markets will be guided by the US Federal Reserve s call on interest rates and domestic macroeconomic data. Besides, Covid-related news will also remain on investors radar. First and foremost, the markets would react to macroeconomic data viz IIP and CPI inflation, which came in after market hours on Friday. In a double whammy for the economy, industrial production growth re-entered the negative territory by contracting 1.6 per cent in January, while retail inflation soared to a three-month high of 5.03 per cent in February on costlier food items. The WPI inflation is scheduled to be released on March 15.