IPO Markets: Four companies, including Archean Chemical Industries and Five Star Business Finance, are scheduled to list their initial public offerings (IPOs) this week to generate a combined total of about Rs 5,000 crore, adding to the primary market's activity.

The other two companies, Kaynes Technology India and Inox Green Energy Services, both have initial public offerings (IPOs) that are prepared to go live. This happened after four companies last week began their initial share sales. Two of these are currently in the process of going public: Global Health Ltd, which runs hospitals under the Medanta name, and maker of snacks and sweets Bikaji Foods International. According to the red herring prospectus, the initial public offerings of Archean Chemical and Five Star Business will be open for public subscription on November 9 and end on November 11, while those of Kaynes Technology and Inox Green are scheduled to begin on November 10 and November 11, respectively (RHP). Up to 26 companies have issued their IPOs so far in 2022, raising more than Rs 48,000 crore. The statistics with exchanges showed that approximately Rs 1.19 lakh crore had been raised in 63 IPOs in 2021.

As per to market experts, volatility in the secondary market led to a weak IPO market in 2022. Non-banking lender Five Star Business Finance's IPO is fully an offer for sale (OFS) of shares to the tune of Rs 1,960 crore by existing shareholders and promoter group companies. The IPO of specialty marine chemical manufacturer Archean Chemical consists of a new issue of equity shares aggregating up to Rs 805 crore and an offer for sale (OFS) of up to 1.61 crore shares by the promoter and investors, including the India Resurgence Fund.

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