Six Dynamic IPOs Set To Launch This Month, Sparking Interest In Primary Market!

In May 2024, IPOs for Indegene, TBO Tek, Aadhar Housing Finance, Refractory Shapes, Winsol Engineers, and Finelistings Technologies energise the primary market, offering diverse investment opportunities.
Six Dynamic IPOs Set To Launch This Month, Sparking Interest In Primary Market!

In May 2024, notable companies including Indegene, TBO Tek, and Aadhar Housing Finance, along with four SMEs, are set to launch their IPOs. This period remains vibrant for the primary market, providing both fundraising avenues for businesses and investment opportunities for the public.

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Despite stock market volatility, the IPO scene in India has been active. In 2024 alone, 24 companies raised over ₹18,000 crore through IPOs. Additionally, the SME sector saw 77 IPOs last month, highlighting ongoing robust investor interest and market dynamics.

Here is the list of upcoming IPOs in May:

Indegene IPO

Carlyle-supported Indegene, a health tech firm, is preparing to initiate its IPO on May 6, aiming to gather ₹1,841.76 crore. This includes a fresh issue of 1.68 crore shares worth ₹760 crore and an offer for sale of 2.39 crore shares totaling ₹1,081.76 crore. Priced between ₹430 and ₹452 per share, the IPO opens on May 6 and closes on May 8, with an expected listing on the BSE and NSE on May 13. Book runners include Kotak Mahindra Capital, Citigroup, JP Morgan, and Nomura, with Link Intime as the registrar.

TBO Tek IPO 

General Atlantic-backed online travel platform TBO Tek is set for an IPO starting May 8 to May 10, with allotment on May 13 and listing planned for May 15. The anchor book will open on May 7. The IPO involves a fresh issue of ₹400 crore and an OFS of 1.25 crore shares. Lead managers include Axis Capital and Goldman Sachs, with Kfin Technologies as the registrar.

Aadhar Housing Finance IPO

Blackstone-supported Aadhar Housing Finance is set to initiate a ₹3,000-crore IPO on May 8, ending on May 10, with anchor investor bidding on May 7. The IPO comprises a fresh issue of ₹1,000 crore in shares and a ₹2,000 crore OFS by BCP Topco VII Pte Ltd, a Blackstone affiliate. BCP Topco owns 98.72% of Aadhar, while ICICI Bank holds 1.18%.

Refractory Shapes IPO 

Refractory Shapes is launching an IPO, opening on May 6 and closing on May 9, with allotment set for May 10 and a listing on the NSE SME on May 14. The IPO, valued at ₹18.60 crore, comprises entirely of a fresh issue of 60 lakh shares, with a price range set between ₹27 and ₹31 per share.

Winsol Engineers IPO 

The Winsol Engineers IPO, worth ₹23.36 crore, consists entirely of 31.15 lakh fresh equity shares. It opens for bidding on May 6 and concludes on May 9, with a price range of ₹71 to ₹75 per share and a minimum lot size of 1,600 shares. Allotment is expected on May 10, with a listing on NSE SME on May 14. Beeline Capital Advisors manages the IPO, with Kfin Technologies as

Finelistings Technologies IPO

Finelistings Technologies is set to launch its SME IPO on May 7, closing on May 9. This fixed price issue, valued at ₹13.53 crore, involves an entirely fresh issuance of 11 lakh shares, priced at ₹123 each. The IPO lot size is 1,000 shares. Fedex Securities is the lead manager, with Skyline Financial Services handling the registration.

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