Dalal Street is gearing up for an exceptionally busy week as six new companies plan to raise a total of ₹7,300 crore through their initial public offerings (IPOs). Leading the pack are major public issues from companies such as IREDA and Tata Tech.
IREDA is a PSU non-banking financial Institution engaged in promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
Out of the funds raised,₹1,290 crore will be raised through fresh issuance which means the funds will come into the company. The government will also raise ₹860 crore by selling 26.87 crore shares in the company.
TATA TECH IPO
The first company from the Tata Group to come out with an IPO in 19 years. Tata Tech IPO opens on tomorrow (November 22) and closes on November 24. The company has set a price band of ₹475-500 per share.
The company plans to raise ₹3,042 crore through its IPO. Shareholders like Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund are selling shareholders.
FEDBANK FINANCIAL SERVICES IPO
Fedbank Financial Services is an NBFC that caters to products like gold loans, home loans, loans against property, and business loans. The company’s IPO opens on tomorrow (November 22) and closes on November 24.
The price band for Fedbank Financial IPO has been set between ₹133-140 per share. Fedbank Financial Services plans to raise ₹1,092 crore through its IPO. Out of the total funds raised, ₹600 crore comes into the company, and selling shareholders like Federal Bank and True North Fund will raise ₹492 crore.
FLAIR WRITING INDUSTRIES IPO
GANDHAR OIL REFINERY INDIA IPO
The company is a leading manufacturer of white oils by revenue with a growing focus on the consumer and healthcare end industries. Gandhar Oil Refinery India produces a wide variety of specialty oils and lubricants such as white oils, waxes, jellies, automotive oils, industrial oils, transformer oils, and rubber processing oils.
ROCKING DEALS CIRCULAR ECONOMY IPO
The company specializes in bulk trading of surplus inventory, open-boxed items, re-commerce products, and refurbished goods. The IPO opens on November 22 and closes on November 24. The price band has been set between ₹136-140 per share and the company will be raising ₹21 crore at the upper end of the price band.