Upcoming IPOs: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month which kept investors engaged with subscriptions and listings. Moving on, the third week of October sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues that are available for subscription.
Among the ongoing issues, Pranik Logistics IPO will close for subscription on October 14, 2024. Let's look at some of the companies opening for subscription this week and the ones that are getting listed on the bourses. The Hyundai Motor India IPO will open for bidding this week in the mainboard segment. Afcons Infrastructure IPO will also open for bidding soon; however, the IPO dates were not announced when this story is filed.
Here are the new SME IPOs opening for subscription this week:
1.Hyundai Motor India IPO
Hyundai Motor IPO is a book-built issue of ₹27,870.16 crore. The issue is entirely an offer for sale of 14.22 crore shares. The mainbaird issue opens for subscription on October 15, 2024 and closes on October 17, 2024.
The IPO of the Indian subsidiary of South Korea's Hyundai Motor Company is set to become the largest public issue in India, surpassing Life Insurance Corporation's (LIC) IPO worth ₹21,000 crore. It would also be one of Asia’s biggest IPOs in recent years. Hyundai Motor IPO price band is set at ₹1,865 to ₹1,960 per share at the face value of ₹10 each.
The upcoming IPO will be Hyundai's first stock market listing outside South Korea. It will also mark India's first carmaker to go public in over two decades since Maruti Suzuki India's public issue in 2003. Hyundai Motor India is also the second largest carmaker by sales in India after Maruti Suzuki India.
2.Lakshya Powertech IPO
Lakshya Powertech IPO is a book-built issue of ₹49.91 crore, entirely a fresh issue of 27.73 lakh shares. The SME IPO opens for subscription on October 16, 2024, and closes on October 18, 2024. The allotment for the Lakshya Powertech IPO is expected to be finalized on Monday, October 21, 2024.
3.Freshara Agro Exports IPO
Freshara Agro Exports IPO is a book-built issue of ₹75.39 crore. The issue is entirely a fresh issue of 64.99 lakh shares. The SME IPO opens for subscription on October 17, 2024 and closes on October 21, 2024. The allotment for the Freshara Agro Exports IPO is expected to be finalized on Tuesday, October 22, 2024.
1.Garuda Construction and Engineering Limited
Shares of the mainboard IPO will debut on stock exchanges BSE, NSE with a tentative listing date fixed as Tuesday, October 15, 2024.
2.Shiv Texchem Limited
Shares of the SME IPO will list on BSE SME with tentative listing date fixed as Tuesday, October 15, 2024.
3.Pranik Logistics Limited
The SME IPO will close for subscription on October 14, 2024. The allotment for the Pranik Logistics IPO is expected to be finalized on Tuesday, October 15, 2024. Shares of Pranik Logistics will list on NSE SME with tentative listing date fixed as Thursday, October 17, 2024.
