3 Big IPOs Set to Open : Do you want to make good profits by investing in the IPO market? If yes, then this week is a great opportunity for you. This week 3 mainboard IPOs are being launched back to back. These include IPOs of Akums Drugs, Ola Electric and Ceigall India. The combined size of the three IPOs is Rs 9258 crore. The price bands for all three IPOs have been decided, while the grey market has also started buzzing about them. Let’s know the full details of all three IPOs.
1.Akums Drugs IPO
The IPO of Akms Drugs and Pharmaceuticals, the country’s leading company manufacturing medicines through contract manufacturing, is opening on July 30. The size of the IPO is Rs 1855 crore. While the company has fixed the price band for this from Rs 646 to Rs 679 per share. This IPO will be open for subscription from July 30 to August 1, 2024. Allotment of shares will be done on August 2 and these shares will be listed on NSE and BSE on August 6.
In this public offering, fresh equity shares worth Rs 680 crore will be issued. While shares worth Rs 1176.74 crore will be sold through OFS i.e. Offer for Sale. In this offer for sale, the promoters and existing investors are offering their 1.73 crore shares whose value is Rs 1176.74 crore.
GMP : 27%
There is a stir in the grey market regarding the IPO of Akms Drugs and Pharmaceuticals Limited. The unlisted stock of the company is at a premium of Rs 180 in the grey market. This is a 27 percent premium in terms of the upper price band of Rs 679.
2. Ola Electric IPO
The IPO of electric scooter maker Ola Electric will open on August 2 this week and close on August 6. It will be listed in the stock market on August 9. The company has fixed the price band for the IPO at Rs 72-76/share. The size of the IPO is Rs 6150 crore. Fresh equity shares worth Rs 5500 crore will be issued in the Ola Electric IPO. At the same time, there will be an Offer for Sale (OFS) of 95,191,195 shares i.e. about Rs 646 crore. In the OFS, promoter Bhavish Aggarwal will sell 3.79 crore equity shares and Indus Trust will sell 41.79 lakh equity shares.
GMP : 20%
Even before the IPO opens, there has been a stir in the grey market regarding Ola Electric. The company’s unlisted stock is at a premium of Rs 15 in the grey market. This is a 20 percent premium in terms of the upper price band of Rs 76.
3.Ceigall India IPO
The IPO of infrastructure company Ceigall India will open from August 1 and investors will be able to subscribe to it till August 5. Ceigall India Limited has fixed a price band of Rs 380-401 per share for its initial public offer. This IPO will open a day earlier on July 31 for anchor investors. Share allotment will be done on August 6. While its shares will be listed in the stock market on August 8.
The size of the IPO is Rs 1252.66 crore. It has fresh equity of Rs 684.25 crore i.e. 17,063,640 shares. While the OFS is of Rs 568.41 crore i.e. 14,174,840 shares will be sold under OFS.
GMP : 35%
There is a craze in the grey market about Ceigall India’s IPO. The company’s unlisted stock is at a premium of Rs 140. This is a 35 percent premium in terms of the upper price band of Rs 401.