IPO watch: March IPO rush not over yet, here’s what is in store for investors ahead

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March 12, 2021 3:55 PM

Investors have already rushed to invest in Easy Trip Planners and MTAR Technologies so far this month, and Anupam Rasayan’s IPO, which opened today, is looking to tread on the same path.

Stock market, IPOAs many as 16 companies of 21, that made their stock market debut this fiscal year, have listed with a premium over the IPO price. (Image: REUTERS)

Dalal Street is abuzz with initial public offerings (IPO) this month. Investors have already rushed to invest in Easy Trip Planners and MTAR Technologies so far this month, and Anupam Rasayan’s IPO, which opened today, is looking to tread on the same path. But, that might not be all. At least five more IPOs are lined up for investors to try their luck in before the financial year ends. The massive interest in IPOs has been generated owing to the stellar listing performance so far. As many as 16 companies of 21, that made their stock market debut this fiscal year, have listed with a premium over the IPO price.

Here’s what is in store for investors hunting IPOs

Anupam Rasayan IPO opened for subscription today. The firm is looking to raise Rs 760 crore through the IPO which is a fresh issue of equity shares. The company is selling shares in the price band of Rs 553-555 per share. Bids can be placed for a minimum of 27 equity shares and in multiples thereafter, translating to a minimum investment of Rs 14,985. The issue will close on March 16.

Laxmi Organic IPO will open for investors on Monday. The company is looking to raise Rs 600 crore through the issue, which is an amalgamation of a fresh issue and an Offer For Sale (OFS) by existing shareholders. The price band has been set as Rs 129-130 apiece where investors can bid for 115 shares and multiples thereafter. Laxmi Organic’s IPO will close on Wednesday next week.

Craftsman Automation IPO will also open on Monday and close on Wednesday next week. The offer consists of a fresh issue of equity shares of Rs 150 crore and OFS of up to 45.21 lakh equity shares. Investors can bid for shares in multiples of 10 per lot in the price band of Rs 1,488-1,490 per share. 

In the same week, the IPO of Kalyan Jewellers will also open. Through the IPO, Kalyan Jewellers will seek to raise Rs 1,175 crore through a fresh issue of Rs 800 crore and the rest being an OFS. Shares will be available for investors to bid for in the price band of Rs 86-87 per share and the bid lot has been decided at 172 shares and multiples thereafter. The issue will close on Thursday next week.

Rakesh Jhunjhunwala-backed Nazara Technologies will also enter Dalal Street next week looking to raise Rs 582.91 through an OFS. The issue will open on Wednesday next week. Investors can bid for shares in the price band of Rs 1,100 to Rs 1,101 per equity share of face value Rs 4. Bids can be placed for a minimum of 13 equity shares and multiples thereafter, translating to a minimum investment of Rs 14,313. The issue closes on Friday.

Suryoday Small Finance Bank will accompany Nazara Technologies with both the issues opening for subscription together. The company has fixed a price band at Rs 303-305 per share of face value of Rs 10 each. The issue will close for subscription on March 19, 2021. Suryodave SFB will look to raise Rs 582 crore through the IPO.

Next week, investors will also be keenly looking forward to listing and allotment of shares of the already completed offers. MTAR Technologies is expected to make its stock market debut on March 16. Apart from this, Easy Trip Planners IPO allotment is expected to be out on March 16 and paving the way for its listing on next Friday.

Be cautious about IPO buzz

IPOs have been the talk of the street for a long time now, and retail investors have been flooding the street for IPOs. High demand has also made allotment difficult at this juncture. “People can try their luck, applying for IPO, for listing gains but when going in for longer-term investors need to be cautious,” said Aditya Kondawar, Founder and COO, JST Investments, told Financial Express Online. He highlighted that there is a sudden rush of IPOs in the market given that the market is filled with liquidity while advising investors be cautious if going in for the long-term.

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