Mumbai: The Frenzy IPO in Dalal Street, followed by four joint offers this week tried to mobilize around Rs 14,600 Crore, making it one of the busiest weeks for IPO in a few years.
The previous week saw Rs 3,614 Crore, while during the 12-16 July week, RS 9,375 Crore was raised only from one IPO – Zomato, data from the exchange and banker traders showed.
The previous big week for IPO mobilization was March 2-6 2020 when the SBI card collected Rs 10,355 Crore.
The combination of the availability of easy funds globally, the stock market that records new peaks regularly and a strong increase in listings has been combined for fast promoters, trader bankers and private equity investors to invite public companies, industrial players said.
During the week walking, Nuvoco Vista Corp.
raised the RS 5,000 Crore through its IPO, which was the first offer of a cement company in the last half decade.
Nuvoco Vista is the majority of Karsanbhai Patel who is also the owner of Nirma detergent.
The aim for collecting RS 5,000 Crore will make it the second largest IPO this year after Zomato.
The last IPO of the cement company was launched in 2006 when JK Cement GO PUBLIC.
Nuvoco Vista is the fifth largest cement company in India and the largest in East India.
Stocks are offered at ribbon prices 560-570 per share.
The IPO will be closed on August 11.
According to a report by IIFL Securities, “Given the size of the NVCL, strong brand ownership, leadership position in the eastern Indian market that grows rapidly, the availability of limestone mines for future expansion, and scope to increase profitability & to increase profitability & balance sheet deleveraging, We believe the assessment assessment.
We recommend subscribing to the IPO.
“Along with Nuvoco, three other IPOs also open now.
The IPO for Cartrade is for automatic registering companies that allow current technology for Chemprias Sanmar, a special chemical company, this is the second to be included publicly after delisted about 10 years ago.
The IPO for the Aptus value housing is for mortgage financing companies that serve middle and low income segments.