Ipo Update News Today

Indegene will launch its IPO on May 6, Aadhar Housing Finance and TBO Tek on May 8. All three companies will cumulatively raise just over Rs 6,000 crore through their issues.

JNK India received steady response so far on first day. The category reserved for institutional investors was booked the most at 67%, followed by retail investors at 34% and non-institutional investors at 9%.

Seven companies are set to launch their initial public offerings (IPOs) in the upcoming week.

Rashi Peripherals IPO, Jana Small Finance Bank IPO and Capital Small Finance Bank IPO will open their public offerings on February 7

The IPO comprises a fresh equity issue of Rs 600 crore and an offer for sale of Rs 320 crore. Under the OFS, promoter Apeejay Pvt Ltd will offload shares worth Rs 296 crore.

Baweja Studios Rs 97-crore IPO is the biggest of the lot, which comprises fresh issues of up to 54 lakh shares. The company has fixed a price band in the range of Rs 170-180 apiece, where investors can bid for 800 shares in one lot.

Currently, there are 25 draft offer documents, filed by various companies, under process with the market regulator Sebi. Nearly 30 companies have already received a green signal from the regulator, aimed at raising over Rs 30,000 crore. Meanwhile, about 40 other companies have submitted their DRHPs for approval.

The company has appointed Corporate Capital Ventures as the book-running lead manager for the issue while Skyline Financial Services is the registrar

The quota reserved for retail individual investors (RIIs) was subscribed 2.82 times. The issue was booked 1.03% in the NII category. The portion allotted for qualified institutional bidders was subscribed 12%. According to market analysts, the current GMP of Suraj Estate Developers is Rs 50-60 in the unlisted market.

Analysts said the strong interest in IPOs is due to an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers.