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March sees 25 new listings on Dalal Street, with SMEs leading the pack. Owais Metal shines with a 368% increase, while Exicom Tele-Systems tops the mainline category with a 51.1% gain. Overall, a total of 76 companies have made their debut on Dalal Street in CY24 thus far.
Ahead of its IPO, IREDA mopped up Rs 643.26 crore from 58 anchor investors by allocating 20,10,19,726 shares at an issue price of Rs 32 apiece.
Indian IPO market booming with 72 offerings so far this year, 62 of which are in the green. Experts expect the trend to continue in the short term.
With this IPO, which is through an offer-for-sale, the government is aiming to divest its 3.5 per cent stake in the insurer by selling 22,13,74,920 shares.