At least six IPOs are gearing up to launch in the upcoming week, which includes one mainboard and five SME offerings targeting to collectively raise over ₹500 crore. Additionally, ten recently closed IPOs will debut next week bolstering listings momentum after the Budget.
Market experts foresee the IPO pipeline expanding further in the next two months prior to a potential dry spell owing to the general elections. Currently, 25 IPO draft offer documents are awaiting Sebi approval.
BLS International Services Eyes ₹311 Cr via IPO
The largest upcoming IPO is BLS International Services’ mainboard issue opening on January 30th seeking to garner ₹311 crore via a fresh issue of 2.3 crore shares priced ₹129-135 per share.
BLS offers visa processing and tech-driven business services having processed over 52 million applications till date across 66 client governments. Its IPO proceeds will fund working capital and upgrade tech infrastructure among other objectives.
SME Issues From ₹8 Cr to ₹97 Cr
The SME issues vary from Gabriel Pet Straps’ ₹8 crore fixed price IPO to Baweja Studios’ ₹97 crore book-built issue. Baweja Studios is engaged in film production, distribution and entertainment services.
Other SME offers include induction heating player Megatherm Induction (₹54 crore), aqua feed producer Mayank Cattle Foods (₹19 crore) and agro-products exporter Harshdeep Hortico (₹19 crore).
IPO Listing Pipeline Remains Robust
Apart from new launches, listing activity looks set to continue surging with ten IPOs including Nova AgriTech, Qualitek Labs, Euphoria Infotech, Lawsikho, Docmode Health and more debuting next week itself post closure of subscription.
The ongoing momentum indicates investors’ sustained risk appetite for new issues with decent IPO pipelines anticipating no slowdown until polls. Retail participation also looks encouraging although concerns around stretched valuations persist in pockets
