Four Initial Public Offerings to launch markets; aim to garner Rs 14,628-cr

The Initial Public Offering (IPO) market continues with four entities launching their primary share sales this week to raise over Rs.14,628 crore collectively. Market analysts expect the IPO environment to remain buoyant during the entire 2021-22.

Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles have launched their initial share-sales last week to mobilize Rs.3,614 crore. So far in the current fiscal, 16 firms have raised Rs30,666 crore through IPOs against Rs31,277 crore by 30 firms in the entire 2020-21.

According to Hemang Kapasi, Head of Equities at Sanctum Wealth Management,  as many as 40 IPOs are lined up for the rest of the year looking to raise around RS70,000 crore. Nuvoco Vistas Corporation, part of the Nirma Group, and online auto classified platform CarTrade Tech will launch their initial share-sales on Monday, while that of Aptus Value Housing Finance andChemplast Sanmar will be open for public subscription on Tuesday, as per information with stock exchanges. The companies are raising funds to retire their debt, meet capital expenditure requirement and for general corporate purposes. Besides, existing shareholders are divesting their stakes in the IPOs.

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