2 weeks Ago By Pawan Kumar
New Delhi: The primary market will slow down next week with no new IPOs opening for subscription. However, eight listings, including Waaree Energies, Deepak Builders, and Godavari Biorefineries, are expected to light up Dalal Street during the Diwali week. Upcoming IPOWhile new issues take a pause, the IPO pipeline looks promising, with 26 companies having secured SEBI approval to raise Rs 72,000 crore.
Another 55 companies, aiming to collect nearly Rs 89,000 crore, are waiting for the regulator’s nod. So far this fiscal year, IPO fundraising has touched Rs 1 lakh crore. Waaree Energies IPO ListingThe IPO of Waaree Energies saw massive demand from investors, with the issue being subscribed 76 times.
It also broke records by receiving 97 lakh applications, surpassing the previous high set by Bajaj Housing Finance. In the unlisted market, Waaree shares are trading at a 100 per cent premium over the issue price, signaling strong potential for multibagger returns on its October 28 debut. The company plans to use the IPO proceeds to establish a 6-gigawatt (GW) facility for manufacturing ingots, wafers, solar cells, and PV modules in Odisha, as well as for general corporate purposes.
Deepak Builders IPO ListingThe Deepak Builders IPO was 41.5 times oversubscribed. In the grey market, the stock is commanding a Rs 32 premium, indicating a 16 per cent gain over the issue price.
According to the company’s filing, the IPO proceeds will be used for working capital (Rs 95 crore) and debt repayment (Rs 30 crore). Upcoming IPO This YearAccording to sources, several companies are preparing to launch their IPOs in 2024. The big companies that are planning to launch their public offerings are NTPC Green Energy, Acme Solar, Mobikwik, Sagility India, Zinka Logistics, and Niva Bupa.
These firms have already received final approval from SEBI, with NTPC Green Energy awaiting the regulator’s final observation before proceeding with its public offering. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Markets, Business Economy and around the world..
