IPO It has decided to raise funds of Rs.7300 crore through share issue,
let's see who those companies are, Five companies are set to raise over Rs
7,300 crore through initial public offerings (IPOs) this week alone. The
companies are,
|
| IPO |
What is a fresh issue of shares by a listed company called?
Tata Technologies, The engineering design and
technology company is aiming to raise Rs 3,042 crore through its IPO. The price band
for the issue has been set at Rs 475-500 per share.
Indian Renewable Energy Development Agency (IREDA), The renewable energy
financing agency is aiming to raise Rs 2,150 crore through its IPO. The
price band for the issue has been set at Rs 30-32 per share.
Fedbank Financial Services, The non-banking financial company is aiming to
raise Rs 1,092 crore through its IPO. The price band for the issue has
been set at Rs 133-140 per share.
Flair Writing Industries, The writing instruments manufacturer is aiming
to raise Rs 593 crore through its IPO. The price band for the issue has
been set at Rs 288-304 per share.
Gandhar Oil Refinery India, The edible oil refinery is aiming to raise Rs
500 crore through its IPO. The price band for the issue has been set at Rs
160-169 per share.
The IPOs are expected to be well-received by investors, given the strong
outlook for the Indian economy and the positive sentiment in the markets.
The IPOs are also expected to boost liquidity in the secondary market.
In the first half of the current financial year, 31 new share issues
raised Rs 26,300 crore.
This is reported to be a decline of 26 per cent compared to Rs 35,456
crore collected in the same period of the previous fiscal year.
Barley next year.It is said that many companies are trying to list their shares as soon as the elections are approaching and recently listed stocks have generated good returns.
This is seen as the reason for the increase in numbers. Also, it is said
that it is not likely to affect the cash flow.
Here is a table summarizing the five IPOs,
Company
Issue Size (Cr) Price Band (Rs/share)
(Tata Technologies....(3,042) 475-500) starting [22/11/23] closing to
[24.11.23]
(IREDA..... (2,150) (30-32) starting [21/11/23] closing to [23/11/23
(Fedbank Financial Services... (1,092) 133-140) starting [22/11/23]
closing to [24/11/23]
(Flair Writing Industries...(593) (288-304) starting [22/11/23] closing to
[24/11/23]
(Gandhar Oil Refinery India ...(478) (260-268)
Starting [22/11/23] closing to (24/11/23)