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Amid a boom in corporate initial public offerings (IPOs) in November, next week five companies, including Tata Technologies and Indian Renewable Energy Development Agency (IREDA), will raise Rs. 7,300 crore is preparing to raise. Apart from Tata Technologies and IREDA, the companies that have launched IPOs include FedBank Financial Services, Flair Writing Industries and Gandhar Oil Refinery India.
The company is going to issue a record 17 bonus shares this week
According to stock market data, these five companies together raised Rs. It is expected to collect over 7,300 crores. Earlier, three companies – ASK Automotive, Proteus eGov Technologies and ESAF Small Finance Bank – launched their public issues earlier in the month.
This Tata company changed the management, the stocks were looted
V Prashant Rao, director of investment banking at Anand Rathi Advisors, said the recent public issues and good investor response to strong macroeconomic fundamentals have boosted readiness for new IPOs. He said that several draft documents related to the issue have been filed with market regulator SEBI for approval. This indicates that companies are gearing up to launch their IPOs in the next quarter.
He said the IPO market will continue to boom ahead of the general elections. In the first half of FY 2023-24, 31 IPOs have been issued in the Indian market, with Rs. 26,300 crore has increased. In the same period last financial year, 14 IPOs raised Rs. 35,456 crore was collected.