A dozen Indian companies, including Cello World, Honasa Consumer (parent of Mamaearth), and Blue Jet Healthcare, are preparing to launch their initial public offerings (IPOs) next month, with an aim to collectively raise over Rs 15,000 crore. This move comes despite the ongoing secondary market volatility and geopolitical uncertainties that have led to a decline in Nifty and Nifty Midcap100 indices.
Cello World, a consumer houseware company, has announced its IPO at Rs 1,900 crore with shares priced between Rs 617-648 each. Blue Jet Healthcare is targeting to raise Rs 840 crore through its IPO. Other firms such as Tata Technologies, ASK Automotive, Protean eGov Technologies, Federal Bank-backed Fedbank Financial Services, ESAF Small Finance Bank, Flair Writing Industries, and Credo Brands Marketing are also slated for public offerings.
Tata Motors (NYSE:TTM) is planning to sell a 9.9% stake in Tata Technologies for Rs 1,613.7 crore to TPG Rise Climate SF Pte and the Ratan Tata Endowment Foundation (RTEF). The mid-November IPO of Tata Technologies has shares priced between Rs 450 and Rs 500 each.
Protean eGov Technologies aims to raise approximately Rs 1,200-1,300 crore through an IPO in November, while ASK Automotive is preparing for a Rs 1,000 crore offering next month.
Despite the market fluctuations, these IPOs have generated significant interest among institutional investors during roadshows. Companies like Cyient DLM, Plaza Wires, Utkarsh Small Finance Bank, and Senco Gold have witnessed a significant increase in value post-IPO, providing a positive outlook for the upcoming IPOs.
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