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It s IPOs ahoy! 40-odd issues on the way to mop up Rs 80,000 crore
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Ahead of Market: 12 things that will decide stock action on Tuesday
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Two companies Clean Science and Technology and GR Infraprojects are headed to the market with their initial share-sale offers next week to raise a little over Rs 2,500 crore cumulatively. The companies are expecting to benefit from an equity market, which is swarmed with liquidity and a sharp increase in the number of new retail investors. This comes after five companies Shyam Metalics and Energy, Sona BLW Precision Forgings (Sona Comstar), Krishna Institute of Medical Sciences, Dodla Dairy and Indian Pesticides launched their initial public offers (IPOs) last month. These firms collectively raised Rs 9,923 crore through public issues. The three-day IPOs of Clean Science and Technology and GR Infraprojects will open for public subscription on July 7 and conclude on July 9. The bidding for anchor investors will open on July 6, data with exchanges showed.
Indian stock market to see fireworks on US I-Day(Market Outlook)
Sun, Jul 4 2021 14:03 IST |
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Bombay Stock Exchange (BSE). (File Photo: IANS). Image Source: IANS News
The week gone by was quite predictable and had become fairly lacklustre over the first four days. Friday was different and indicated that the coming week would have a different opening and behave differently. BSESENSEX lost 440.37 points or 0.83 per cent to close at 52,484.67 points. NIFTY lost 138.15 points or 0.87 per cent to close at 15,722.20 points. The broader markets saw BSE100, BSE200 and BSE500 lose 0.66 per cent, 0.65 per cent and 0.32 per cent, respectively. BSEMIDCAP was down a mere 0.19 per cent, while BSESMALLCAP was up 2.28 per cent. This indicates that the number of smaller stocks advancing were higher as the Smallcap forms the lowest priced stocks in general in the market. This is the area of concern as retail investors tend to invest in these stocks and they do not have adequate
The two firms will together garner a total of Rs 2,510 crore through IPOs. Shares of the companies will be listed on the BSE and the NSE. Clean Science and Technology s Rs 1,546.62-crore IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders. Those offering shares in the OFS include Anantroop Financial Advisory Services, Ashok Ramnarayan Boob; Krishnakumar Ramnarayan Boob; Siddhartha Ashok Sikchi; and Parth Ashok Maheshwari. Speciality chemical manufacturer has fixed a price band of Rs 880-900 a share for its IPO. Clean Science Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals.
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