Upcoming IPOs This Week: 4 Mainboard & 5 SME Public Issues To Go Live; Hyundai & 2 Other Listings

The Indian stock market is gearing up for another action-packed week with a slew of Initial Public Offerings (IPOs) in both the mainboard and SME segments. As we enter the fourth week of October 2024, the primary market will see four major public issues opening for subscription, along with multiple listings on both the NSE and BSE. Here's a comprehensive breakdown of the upcoming IPOs that are expected to dominate investor attention this week.

Waaree Energies IPO

Waaree Energies, a leading name in the renewable energy sector, will launch its IPO from October 21 to October 23, 2024. The IPO, valued at Rs 4,321.44 crore, includes a fresh issue of 2.4 crore shares aimed at raising Rs 3,600 crore and an Offer for Sale (OFS) of 0.48 crore shares, which will bring in an additional Rs 721.44 crore.

The price band for this IPO has been set between Rs 1,427 and Rs 1,503 per share. The book-running lead managers for this issue include Axis Capital Limited, IIFL Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Ltd. Link Intime India Private Ltd is the designated registrar for the issue.

Deepak Builders & Engineers IPO

Deepak Builders & Engineers will open their IPO for subscription on October 21, 2024, and it will remain open until October 23, 2024. This IPO, valued at Rs 260.04 crore, includes a fresh issue of 1.07 crore shares valued at Rs 217.21 crore and an OFS of 0.21 crore shares, bringing in Rs 42.83 crore.

The price band for this IPO has been established at Rs 192 to Rs 203 per share, and the issue is being managed by Fedex Securities Pvt Ltd, with Kfin Technologies Limited acting as the registrar.

Godavari Biorefineries IPO

The Godavari Biorefineries IPO will open for subscription from October 23 to October 25, 2024. This Rs 554.75 crore IPO includes a fresh issue of 0.92 crore shares valued at Rs 325 crore and an OFS of 0.65 crore shares, which will bring in Rs 229.75 crore.

The price range for this offering is between Rs 334 and Rs 352 per share, and the IPO is being led by Equirus Capital Private Limited and SBI Capital Markets Limited. Link Intime India Private Ltd will handle the registrar duties.

Afcons Infrastructure IPO

Afcons Infrastructure will open its IPO from October 25 to October 29, 2024. The IPO, which has a total size of Rs 5,430 crore, includes a fresh issue of Rs 1,250 crore and an OFS of Rs 4,180 crore.

The issue will be managed by an array of prominent book-running lead managers, including ICICI Securities Limited, Dam Capital Advisors Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. Link Intime India Private Ltd is the registrar for the issue.

Other Notable IPOs

Several other IPOs are also opening this week, mostly in the SME segment:
Premium Plast IPO (October 21-23, 2024): This Rs 26.20 crore issue consists entirely of a fresh issuance of 53.46 lakh shares. The price band is set between Rs 46 and Rs 49 per share.
Danish Power IPO (October 22-24, 2024): Valued at Rs 197.90 crore, this IPO comprises a fresh issuance of 52.08 lakh shares, with a price band of Rs 360 to Rs 380 per share.
United Heat Transfer IPO (October 22-24, 2024): With a total size of Rs 30 crore, the IPO price band is between Rs 56 and Rs 59 per share.
OBSC Perfection IPO (October 22-24, 2024): This Rs 66.02 crore issue consists entirely of a fresh issue of shares priced between Rs 95 and Rs 100 per share.
Usha Financial Services IPO (October 24-28, 2024): Valued at Rs 98.45 crore, this IPO has a price band of Rs 160 to Rs 168 per share.

Upcoming IPO Listings

The market will also witness several new IPO listings next week. Hyundai Motor India, which finalized its allotment on October 18, 2024, is set to debut on the stock exchanges on October 22, 2024. Additionally, Lakshya Powertech and Freshara Agro Exports will be listed on October 23 and October 24, respectively.

What's Driving IPO Activity?

The current surge in IPO activity can be attributed to favourable market conditions and rising liquidity, driven by domestic investors. While Foreign Institutional Investors (FIIs) have recently offloaded shares, Domestic Institutional Investors (DIIs) continue to absorb the selling pressure, ensuring ample liquidity for upcoming IPOs. With high-profile names like Waaree Energies and Afcons Infrastructure entering the market, investor sentiment remains optimistic, though a cautious approach is advised due to recent market volatility.