Top Companies Set To Raise More Than Rs 10, 000 Crore In September Via IPOs

As benchmark stock indices are hitting new records with each passing day, more than eleven leading companies are keen to raise more than 10,000 crore via initial public offering (IPO) route. The benchmark equity indices opened in green on Friday amid positive global cues. BSE Sensex gained 175 points in morning trade to 67,694 while Nifty 50 jumped 56.7 points to 20,159 till 10:10 am on Friday. Nifty 50 recently scaled the peak of 20,000 for the first time on September 11.

Ideaforge Technology Ltd emerged so far one of the most subscribed IPO of 2023 with total subscription exceeding 160 times. Meanwhile, three companies have managed to raise nearly 977 crore via IPO till now in September only.

It is worth mentioning that Ratnaveer Precision Engineering's IPO was subscribed to 94 times while EMS was subscribed 75 times followed by Rishabh Instruments's IPO that was subscribed nearly 31.6 times, according to data available at BQ Prime.

Meanwhile, RR Kabel, Samhi Hotels, Zaggle Prepaid Ocean, Yatra Online are planning to raise approximately 4673 crore from investors via IPO.

It is worth mentioning that JSW Infrastructure plans to raise 2800 crore, RR Kabel seeks to raise 1964 crore, Samhi Hotels set to raise 1370 crore, and Sai Silk will raise approximately 1201 crore. Meanwhile, Yatra Online has plans to raise nearly 775 crore, Signature Global to raise 730 crore, Zaggle Prepaid is geared up to raise 564 crore, Rishabh Instruments seeks to raise 490.8 crore and EMS Ltd has plans to raise nearly 321.24 crore. In the list of 11 companies, Manoj Vaibhav has plans of raising 210 crore and Ratnaveer Precision will be raising approximately 165 crore, according to BQ Prime.

According to Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd, "In the primary market during the period September 2 - September 9, 1 mainboard IPO i.e., VPRPL Ltd listed, raising a total of INR 309 crore and the IPO listed at robust premium of 67%. There was decline in IPO activities in 2022 and expected to have a jump of 30% in IPO issuance in 2023.

A strong pipeline of over USD 9 billion, which has been approved by capital markets regulator Sebi, and another USD 6 billion filed with the capital markets watchdog, of which USD 10 billion should fructify. Remaining fiscal 2023 looks promising for primary markets. Next week looks promising with IPOs like EMS Limited, RR Kabel among others on the horizon, targeting to raise cumulative fund amounting to INR 3200+ crore. Further it is encouraging to note that as IPO market is sizzling, FPI's have poured over INR 21,000 crore into IPOs in Apr-Aug'23."

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author or Greynium Information Technologies. The author, the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.