The IPO market will see 11 new issues opening from September 15, comprising five mainboard IPOs and six SME IPOs. The mainboard issues include National Stock Exchange of India (NSE), Sona Selection India, Hero Motors, Jindal Supreme (India) and SS Retail.
The stock market will remain closed on September 14 on account of Ganesh Chaturthi, with IPO activity resuming from September 15.
Five Mainboard IPOs to Open
The five mainboard IPOs are Sona Selection India, National Stock Exchange of India (NSE), Hero Motors, Jindal Supreme (India) and SS Retail. Among these, the NSE IPO is the largest issue.
The NSE IPO has a price band of ₹1,700 to ₹1,785 per share and an issue size of about ₹22,561.57 crore. Its shares will be listed on the BSE.
Hero Motors and SS Retail IPOs
Hero Motors will offer its IPO in the price band of ₹79-84 per share, with an issue size of ₹1,000 crore. SS Retail has set a price band of ₹403-424 per share and an issue size of ₹500 crore.
Sona Selection India and Jindal Supreme (India) have set price bands of ₹94-99 and ₹88-93 per share, respectively. The shares of both companies will be listed on the BSE and NSE.
Six SME IPOs to Open
The SME segment will have IPOs from Axiom Gas Engineering, Kheria Autocomp, Spectrae Technology Solutions, Quanto AgroWorld, Shakti Polytarp and Vama Wovenfab.
Vama Wovenfab has set a price band of ₹324-341 per share, while Shakti Polytarp has set a price band of ₹56-59 per share. Quanto AgroWorld will offer its issue at a fixed price of ₹67 per share.
SME IPO Price Bands and Issue Sizes
Axiom Gas Engineering will offer its IPO in the price band of ₹50-53 per share, Kheria Autocomp in the range of ₹96-101, and Spectrae Technology Solutions in the range of ₹112-118.
The issue sizes of Vama Wovenfab, Axiom Gas Engineering and Kheria Autocomp are ₹49.54 crore, ₹49.81 crore and ₹46.44 crore, respectively.
NSE IPO Records Highest GMP
The NSE IPO has the highest grey market premium among the 11 issues, at ₹208. SS Retail has a GMP of ₹106, while Jindal Supreme (India) has a GMP of ₹25 and Hero Motors has a GMP of ₹24.
The GMPs of Vama Wovenfab, Shakti Polytarp, Quanto AgroWorld, Spectrae Technology Solutions, Sona Selection India, Kheria Autocomp and Axiom Gas Engineering are currently reported at ₹0.
Grey market premiums can change and do not guarantee an IPO's listing price. Investors should not make investment decisions solely on the basis of GMP and should also examine the companies' financials, valuations and risks associated with the IPOs.
