The Indian primary market is gearing up for a vibrant Friday with four companies launching their initial public offerings (IPOs) on January 19, the last trading day of the week. These IPOs, spanning diverse sectors like manufacturing, education, engineering, and IT, collectively amount to a whopping Rs. 738 crore.
Mainboard Debutant:
- Epack Durable IPO: Leading the pack is Epack Durable, an Original Design Manufacturing (ODM) player in the room AC segment. Their IPO, valued at Rs. 640.05 crore, features a price band of Rs. 218-230 per share and a lot size of 65 shares. Notably, Rs. 400 crore of the offering will be fresh issuance, with the proceeds utilized for manufacturing facility expansion, debt repayment, and general corporate purposes. Epack Durable shares are already generating buzz in the grey market, trading at a premium of 31% (Rs. 31) above the IPO’s upper price band.
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SME Spotlight:
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Addictive Learning Technology IPO (Lawsikho IPO): This educational technology platform is raising Rs. 60.16 crore through a mix of fresh issue and offer for sale. The price band for Lawsikho IPO is set at Rs. 133-140 per share with a lot size of 1000 shares. The company plans to utilize the new issue proceeds for acquisitions, technology investments, course development, branding, working capital, and general corporate purposes. Lawsikho IPO shares are witnessing a remarkable grey market premium of 78% (Rs. 109) over the IPO’s upper price band.
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Constelac Engineers IPO: This engineering, procurement, and construction (EPC) contractor is aiming to raise Rs. 28.70 crore through a pure new issue IPO. The price band for Constelac Engineers IPO is fixed at Rs. 66-70 per share with a lot size of 2000 shares. The majority of the IPO proceeds will be used for working capital requirements. Interestingly, Constelac Engineers shares are commanding a grey market premium of 64% (Rs. 45) above the IPO’s upper price band.
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Euphoria Infotech India IPO: Rounding up the SME offerings is Kolkata-based IT and ITes solutions provider Euphoria Infotech. Their Rs. 9.60 crore IPO comprises solely fresh issue. The price band for Euphoria Infotech IPO is Rs. 96-100 per share with a lot size of 1200 shares. The funds raised will be used for working capital, IPO expenses, and general corporate purposes. Euphoria Infotech shares are trading at a 50% premium (Rs. 50) to the IPO’s upper price band in the grey market.
Subscription and Listing Dates:
All four IPOs will open for subscription on Friday, January 19, and close on January 23. The shares of these companies are expected to list on their respective exchanges (BSE/NSE or NSE SME) on January 29.
Conclusion:
With a diverse mix of companies across various sectors and attractive grey market premiums, the upcoming IPOs are poised to generate significant investor interest on Friday. This activity marks a promising start to the new year for the Indian primary market.