India's primary market cools with 13 listings scheduled for next week
Only one new SME IPO is set to open for subscription between November 2 and November 6.
India's primary market is entering a quiet period following a busy October, with only one new IPO scheduled to open for subscription between November 2 and November 6. Vedant Poly Fabs, a small and medium enterprise, will be the only new company launching its IPO next week.
The Rs 56.68 crore Vedant Poly Fabs offering opens on Monday, November 2, and closes on Wednesday, November 4. The company has set a price band of Rs 88-94 per share. The issue includes a fresh issue of 54.26 lakh shares and an offer for sale of 6.04 lakh shares.
Thirteen companies are expected to list during the week. Bombay Coated & Special Steels, a mainboard player, is scheduled to list on the BSE and NSE on November 5. Its Rs 183.06 crore IPO closes for subscription on November 2.
Other upcoming listings include EAAA India Alternatives on November 2, followed by BLS Polymers, SFC Environmental Technologies, and Wiscon Industries on November 3. Antala Industries and Bombay Coated & Special Steels are expected to debut on November 5.
Four other SME companies, including Maxwell Engineering Solutions and Johnsoncab Electricals, are scheduled to close their offerings on November 3 and list on November 6. MK Sons Fine Jewels, Ajwa Projects, and Carver Roboweld are set to list on November 4.
The slowdown follows a period of high activity, including the Rs 30,188 crore Jio Platforms IPO. Mukesh Ambani-led Jio debuted on October 28 at Rs 1,358, representing a 21.36 per cent premium over its issue price.