The primary market will be buzzing in the coming week, with multiple IPO launches and a mega listing, though too much volatility in the secondary market due to global growth concerns and inflation worries.
The Life Insurance Corporation of India will make its market debut on May 17. The current calendar year has seen nine listings on the BSE and NSE.
According to the grey market premium, the largest life insurance company in the country is expected to see either flat or negative listing compared to the issue price of Rs 949, but experts say given the retail investors, employees and policyholders received shares at a major discount, this is still expected to be
The discount for retail and employees is Rs 45 per share, while the company allotted shares at a discount of Rs 60 per share.
Click here to read all the updates on the LIC IPO.
With the heightened volatility and current ongoing correction in the market, investors may see a flat to slight negative opening from the upper band of the issue price. Since retail investors and policy holders got discount in this IPO, they may see marginal gains over their investment on the listing day.
He advised investors to hold the stock for a long time and to buy it in dips.
Last week, LIC issued more than 22.13 crore equity shares to investors, raising more than Rs 21,000 crore.
Paradeepphosphates, Ethos, and eMudhra are the three IPOs that are scheduled to open next week.
The public issue of Paradeep Phosphates will open on May 17 and close on May 19 with a price band of Rs 39 to 42 per share.
All IPO updates can be found here.
The company is planning to raise more than one thousand dollars through a public issue and an offer for sale by the Government of India.
The net proceeds from the fresh issue will be used to repay debts and acquire a facility.
The second public issue of Ethos, India's largest luxury and premium watch retailer, will open for subscription on May 18 with a price band of Rs . The anchor book will be open on May 17.
The company's offer will fetch it Rs 472.29 crore, which includes a fresh issue of Rs 375 crore and an offer for sale of Rs 97.29 crore by the company's shareholders.
The company will repay its debts, fulfill the working capital requirements, and finance the capital expenditure through fresh issue proceeds.
The closing date for the public issue of eMudhra will be May 24. The offer price is between Rs 243 and Rs 258 per share.
The anchor book will be launched a day before the issue opens.
A fresh issue of Rs 161 cr and an offer for sale of Rs 251 cr are part of the initial public offering of the company.
Fresh issue proceeds will allow eMudhra to repay its borrowings.
The funds raised from the issue will be used for the purchase of equipment and funding of other costs for data centers proposed to be set-up in India and overseas locations.
Prudent Corporate Advisory Services and Venus Pipes & Tubes IPOs will get finalized by May 19 and May 18 respectively.
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