Discover the latest in India’s Upcoming IPO market! Learn about the upcoming Ixigo and United Cotfab IPOs, along with new listings like Kronox Lab Sciences, 3C IT, Sattrix, and Magenta Lifecare. Stay informed on key investment opportunities and market trends for the week ahead.”
India’s IPO market is thriving, establishing itself as the second-largest globally. With the recent election results announced, the expectation of continued economic policies is set to further accelerate the IPO boom.
Mahavir Lunawat, Managing Director at Pantomath Capital Advisors Pvt. Ltd., commented, “India has become the 2nd largest IPO market. With the election results being out, the continuation of existing policies is highly expected which will fuel the IPO boom further. We witness significant capital to be deployed in public markets & strong demand for new-age as also conventional companies.”
Lunawat also highlighted the importance of the upcoming Union Budget, which will be crucial in shaping the new government’s economic strategy, closely watched by investors.
Two New IPOs Opening Next Week
As the primary market takes a brief pause, two new public issues are set to open next week. One is in the mainboard segment, and the other is in the small and medium enterprise (SME) section.
Ixigo IPO
Le Travenues Technology Ltd, the operator of Ixigo, will launch its IPO on June 10, closing on June 12. This book-built issue is valued at ₹740.10 crore, consisting of a fresh issue of 1.29 crore shares worth ₹120 crore and an offer for sale of 6.67 crore shares totaling ₹620.10 crore. The price band for the Ixigo IPO is set between ₹88 to ₹93 per share.
The lead managers for this IPO are Axis Capital Limited, Dam Capital Advisors Ltd (formerly IDFC Securities Ltd), and JM Financial Limited, with Link Intime India Private Ltd as the registrar.
United Cotfab IPO
The United Cotfab IPO will be open for subscription from June 13 to June 19. This SME IPO is a fixed price issue of ₹36.29 crore, entirely consisting of a fresh issue of 51.84 lakh shares.
Priced at ₹70 per share, the lead manager for this IPO is Beeline Capital Advisors Pvt Ltd, with Purva Sharegistry India Pvt Ltd acting as the registrar.
New Listings to Watch
In addition to the new IPOs, four recent IPOs are set to be listed next week. These include:
Kronox Lab Sciences IPO
The allotment for the Kronox Lab Sciences IPO was finalized on June 6, 2024, and it will be listed on BSE and NSE on June 10.
3C IT IPO
The allotment for the 3C IT IPO is expected to be finalized on June 10, 2024. This SME IPO will list on BSE SME with a tentative listing date of June 12.
Sattrix IPO
The allotment for the Sattrix IPO is also expected to be finalized on June 10, 2024. This SME IPO will list on BSE SME with a tentative listing date of June 12.
Magenta Lifecare IPO
Similarly, the allotment for the Magenta Lifecare IPO is expected to be finalized on June 10, 2024. The IPO will list on BSE SME with a tentative listing date of June 12.
Key Takeaways for Investors
As India continues to strengthen its position in the global IPO market, the upcoming IPOs and new listings present significant opportunities for investors. The continuation of current policies and the forthcoming Union Budget are critical factors that will shape the investment landscape.
Investors should keep an eye on the dates and details of the new IPOs and listings to make informed decisions. Whether you are looking to invest in innovative companies like Ixigo or explore opportunities in the SME sector with United Cotfab, the next week promises to be eventful for the primary market.
Stay tuned for more updates and insights on these exciting developments in the IPO market.
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