Get ready for a power-packed week on Dalal Street. The primary market is set to witness a flurry of activity as five mainboard IPOs and eleven SME issues are set to open for subscription this week. From financial giants to steel makers and from real estate developers to jewellery manufacturers, companies across sectors are queuing up to raise funds amid strong market sentiment. There is plenty to choose from as over Rs 15,800 crore worth of IPOs lined up between June 23 and June 30.
Mainboard action: 5 big IPOs set to open HDB Financial Services IPO
HDB Financial Services, a non-banking financial company promoted by HDFC Bank, is set to open its Rs 12,500 crore IPO on June 25. The issue will close on June 27. This is the largest IPO of the year so far. It is a mix of a fresh equity issue worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by existing shareholders.
The company has fixed a price band of Rs 700 to Rs 740 per equity share. The shares are proposed to be listed on both BSE and NSE, with the tentative listing date set for July 2. MUFG Intime India is acting as the registrar to the issue. The proceeds from the fresh issue are expected to be used for capital requirements and general corporate purposes.
Globe Civil Projects IPO
Globe Civil Projects is entering the market with its maiden public offer of Rs 119 crore. The IPO will open for bidding on June 24 and close on June 26. This issue is entirely a fresh equity offering, with no offer for sale by existing shareholders. The company, engaged in infrastructure and EPC contracts, aims to use the funds for ongoing projects and expansion plans.
The price band is set at Rs 67 to Rs 71 per share, with investors required to apply for a minimum of 211 shares per lot. This translates into an application amount of nearly Rs 15,000 at the upper end. The shares are likely to be listed on the exchanges on July 1.
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