India’s IPO street is set to be crowded next week, with fresh offerings opening for subscription and a long list of companies preparing to ring the opening bell on the stock exchanges.
The primary market will see four new public issues with a combined size of about Rs 830 crore opening in the third week of December.
The largest among them is KSH International’s mainboard IPO, even as market participants track a busy listing schedule that includes nearly 15 companies.
High-profile names such as ICICI Prudential Asset Management Company, Corona Remedies and Park Medi World are among those set to debut, keeping investor interest elevated. ICICI Prudential AMC is emerging as the most closely followed listing of the week.
The issue recorded a steady start, with subscriptions crossing the 50% mark on the first day. In the grey market,
IPO price, reflecting positive sentiment
The stock is trading at a premium of Rs 249, translating into an 11% premium over the IPO price, reflecting positive sentiment around its debut, ET reported. In the unofficial market, Corona Remedies is also seeing strong interest, with a grey market premium of about 30% over its issue price.
Nephrocare is trading at a GMP of 7%, pointing to moderate expectations, while Wakefit is showing a marginal premium of around 5%. Within the SME segment, KV Toys stands out, commanding a GMP of 63%, while other SME issues are witnessing relatively muted interest.
On the new issue front, KSH International will open its IPO on Tuesday, December 16, and close on Thursday, December 18. The issue is priced between Rs 365 and Rs 384 per share and is sized at roughly Rs 710 crore. Shares will be listed on both the BSE and the NSE.
The IPO is being managed by Nuvama Wealth Management and is the biggest opening of the week, with its performance expected to influence overall sentiment in the primary market after a heavy issuance calendar in December, as reported by ET.
Activity in the SME space remains steady. Neptune Logitek will open its Rs 46.62 crore IPO on Monday, December 15, with subscriptions closing on Wednesday, December 17.
The company is offering shares at a fixed price of Rs 126 and will list on the BSE SME platform. Galactico Corporate Advisors is the lead manager for the issue. Later in the week,
MARC Technocrats will launch its IPO on Wednesday, December 17, closing on Friday, December 19. The Rs 42.59 crore issue is priced in a band of Rs 88 to Rs 93 per share and will list on the NSE SME platform, with Narnolia Financial Services acting as the book-running lead manager.
On the same day, Global Ocean Logistics India will also open its IPO, offering shares in the price range of Rs 74 to Rs 78. The Rs 30.41 crore issue will be listed on the BSE SME exchange and is being managed by Marwadi Chandarana Intermediaries.
Next week, we will firmly focus on listings, not on subscriptions. With around 15 companies expected to hit the market, it is shaping up to be one of the most crowded listing weeks of the year, led by ICICI Prudential AMC and supported by other well-known entrants such as Corona Remedies and Park Medi World.
