IPO frenzy: Five main-board, 6 SMEs to raise Rs 18,500 cr

PTI New Delhi: The IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capitalbacked Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd. Alongside the five main-board IPOs, six SMEs are preparing to float their maiden public issues next week to garner over Rs 150 crore collectively.

Together, these 11 companies aim to raise approximately Rs 18,500 crore through public offerings. These IPOs will span various sectors and deal sizes a n d i n - clude fresh issues and offers for sale. The companies are tapping the primary market to provide an exit route to the existing shareholders, raise funds for expansion plans, retire debt and support working capital requirements.

Trivesh D, COO of Tradejini, an online brokerage house, had said the Maharashtra election verdict and the UP Lok Sabha by-election results created a positive market sentiment that could boost IPO activity and fundraising efforts. While 2024 has been a strong year for IPOs overall, some recent issues have struggled in the secondary market, highlighting the recurring challenge of pricing during a bull run when issuers often aim for higher valuations, he stated.