The Indian IPO market continues to surge, solidifying its position as the second largest globally. Fueled by recent election results and the upcoming Union Budget, the primary market shows no signs of slowing down.
The Budget will be a key indicator of the new government’s economic strategy, and investors are eagerly waiting to see how it unfolds. The primary market is poised for another exciting week with key upcoming IPOs led by the much-anticipated Ixigo IPO and four listings.
New issuances from United Cotfab and GP Eco Solutions add to the mix, while listings from Kronox Lab Sciences, 3C IT, Sattrix, and Magenta Lifecare keep investors on their toes. Let’s look into the details of this action-packed week.
Upcoming IPOs Opening This Week
Ixigo IPO (Le Travenues Technology Ltd)
The online travel booking platform Ixigo is launching its IPO today, June 10th. The company focuses on empowering Indian travelers to plan, book, and manage their trips across various modes of transportation and hotels. This book-built issue aims to raise ₹740.10 crore, consisting of a fresh issue of ₹120 crore and an offer for sale component of ₹620.10 crore. The bidding window will close on June 12th.
Ixigo IPO Details
| Offer Price | ₹88 – ₹93 per share |
| Face Value | ₹1 per share |
| Opening Date | 10 June 2024 |
| Closing Date | 12 June 2024 |
| Total Issue Size (in Shares) | 79,580,900 |
| Total Issue Size (in ₹) | ₹740.10 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 161 Shares |
Ixigo GMP: The grey market premium suggests some early investor interest, with the shares trading at a premium of over 24% to the issue price. But remember, the grey market is unofficial and does not guarantee future performance.
United Cotfab IPO
This SME IPO, opening for subscription from June 13th to June 19th, caters to a different sector. United Cotfab manufactures high-quality open-end yarn for the textile industry. Their fixed-price issue of ₹36.29 crore consists entirely of a fresh issue of shares priced at ₹70 per share.
United CotFab IPO details
| Offer Price | ₹70 per share |
| Face Value | ₹10 per share |
| Opening Date | 13 June 2024 |
| Closing Date | 19 June 2024 |
| Total Issue Size (in Shares) | 5,184,000 |
| Total Issue Size (in ₹) | ₹36.29 Cr |
| Issue Type | Fixed Price Issue IPO |
| Lot Size | 2000 Shares |
GP Eco Solutions IPO
If you are keenly interested in the solar energy sector, then GP Eco Solutions (GPES) might interest you. This key player plans to raise ₹30.79 crore through an IPO on NSE Emerge. The funds will be used for expansion, setting up a new solar inverter assembly facility, and general corporate purposes. The bidding window opens on June 14th, with a price band of ₹90 – ₹94 per share.
GPES Solar IPO Details
| Offer Price | ₹90 – ₹94 per share |
| Face Value | ₹10 per share |
| Opening Date | 14 June 2024 |
| Closing Date | 19 June 2024 |
| Total Issue Size (in Shares) | 3,276,000 |
| Total Issue Size (in ₹) | ₹30.79 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 1200 Shares |
Upcoming IPO Listings scheduled for this week:
While new issuances grab the headlines, existing IPOs are gearing up for their listing debuts. Here’s a quick rundown of the listings to watch out for this week:
| Company | Exchange | Listing Date |
| Kronox Lab Sciences | BSE, NSE | June 10, 2024 |
| 3C IT | BSE SME | June 12, 2024 |
| Sattrix | BSE SME | June 12, 2024 |
| Magenta Lifecare | BSE SME | June 12, 2024 |
Kronox Lab Sciences IPO: The wait is finally over for those who subscribed to the Kronox Lab Sciences IPO. The allotment was finalized on June 6th, and the company is set to list on both BSE and NSE today, June 10th.
3C IT IPO & Sattrix IPO: Allotment for these two SME IPOs is expected to be finalized on June 10th. 3C IT Solutions & Telecoms (India) Limited will be listed as a BSE SME, while Sattrix Information Security Limited will also be listed as a BSE SME. Both are tentatively scheduled for June 12th.
Magenta Lifecare IPO: The allotment for Magenta Lifecare, another SME IPO, is also expected on June 10th. This company dealing in the healthcare sector is set to list on BSE SME with a tentative listing date of June 12th.
Stay Informed, Make Smart Choices
This week offers a chance to participate in new issuances across diverse sectors like travel, textiles, solar energy, and healthcare. Remember, thorough research is crucial before making any investment decisions. So, stay informed, analyze the companies, and make smart choices!
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.