India’s primary market is set for a busy week, with five companies launching their initial public offerings (IPOs) between 26 October and 29 October, aiming to raise nearly ₹2,600 crore. The upcoming issues span alternative investments, polymers, environmental technology, jewellery retail and steel processing, offering investors exposure to a diverse mix of businesses.
EAAA India Alternatives, an arm of Edelweiss Financial Services, will kick off the week with the largest offering, a ₹1,200-crore IPO. SFC Environmental Technologies will follow with a ₹667.53-crore issue, while M.K. Sons Fine Jewels, BLS Polymers and Bombay Coated and Special Steels will also tap the market.
The issues have different objectives: while some companies are raising fresh capital to fund expansion, working capital and debt repayment, others are offering existing shareholders an opportunity to sell their stakes.
Here’s a closer look at the five IPOs, GMPs, their issue sizes, price bands, subscription dates and use of proceeds.
EAAA India Alternatives IPO GMP today
EAAA India Alternatives IPO GMP today, or grey market premium, is +36. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of EAAA India Alternatives share price was indicated at ₹1,701 apiece, which is 2.16% higher than the IPO price of ₹1,665.
Over the last 3 sessions, the IPO GMP trend has moved downward, declining from ₹121 to ₹36, a decrease of ₹85, according to experts.
EAAA India Alternatives Ltd, an arm of Edelweiss Financial Services, will open its ₹1,200-crore IPO for subscription on 26 October and close on 28 October. The company has fixed a price band of ₹1,585– ₹1,665 per share, valuing it at ₹10,765 crore at the upper end of the band.
The IPO is entirely an offer for sale (OFS) by the Edelweiss Group, meaning the company will not receive any proceeds from the issue. The entire amount will go to the selling shareholder.
The issue size has been reduced to ₹1,200 crore from the ₹1,500 crore proposed in the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) in January. Bidding by anchor investors was scheduled for 23 October.
SFC Environmental Technologies IPO GMP today
SFC Environmental Technologies IPO GMP today is +32. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of SFC Environmental Technologies share price was indicated at ₹362 apiece, which is 9.70% higher than the IPO price of ₹330.
Over the last 5 sessions, the IPO’s GMP has been rising, indicating strong expectations for the listing. The premium has traded between a low of ₹21 and a high of ₹32 during that period, according to the experts.
Wastewater treatment solutions provider SFC Environmental Technologies will launch its ₹667.53-crore IPO on 27 October, with the issue closing on 29 October. The price band has been set at ₹313– ₹330 per share.
The offering comprises a fresh issue of ₹150 crore and an OFS worth ₹517.53 crore. The company plans to use part of the fresh issue proceeds to repay borrowings and meet working capital requirements.
SFC provides wastewater treatment and solid waste management solutions, including technology and equipment used in environmental infrastructure projects.
Retail investors can apply for a minimum of 45 shares, requiring an investment of ₹14,850 at the upper end of the price band.
BLS Polymers IPO GMP today
BLS Polymers IPO GMP today is +38. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of BLS Polymers share price was indicated at ₹188 apiece, which is 25.33% higher than the IPO price of ₹150.
Over the last 7 sessions, the IPO’s GMP has been trending upwards, which would suggest strong expectations around the listing. The premium has ranged from ₹18 to ₹38 during that period, according to the experts.
BLS Polymers will raise ₹255 crore through a fresh issue of shares. The IPO will open on 27 October and close on 29 October, with a price band of ₹142– ₹150 per share.
The minimum application size is 100 shares, translating into an investment of ₹15,000 at the upper end of the price band.
The company manufactures specialised polymer compounds used in power cables, telecommunications networks, railways and underground pipelines.
Of the issue proceeds, ₹77.56 crore will be used to expand its manufacturing facility in Goa, while ₹89.5 crore has been earmarked for working capital requirements.
M.K. Sons Fine Jewels IPO GMP today
M.K.Sons Fine Jewels IPO GMP today is +7. M.K.Sons Fine Jewels share price was indicated at ₹169 apiece, which is 4.32% higher than the IPO price of ₹162.
Jewellery retailer M.K. Sons Fine Jewels will open its ₹275-crore IPO on 28 October. The issue will close on 30 October, with shares priced in the range of ₹153– ₹162 apiece.
The Mumbai-based company operates jewellery showrooms in Mumbai and Ahmedabad, offering gold, diamond and other jewellery products.
Bombay Coated and Special Steels IPO GMP today
Bombay Coated IPO GMP today is +8. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Bombay Coated share price was indicated at ₹90 apiece, which is 9.76% higher than the IPO price of ₹82.
Bombay Coated and Special Steels will launch its ₹183.1-crore IPO on 29 October, with the issue closing on 2 November. The company has fixed a price band of ₹78– ₹82 per share.
The offering is an entirely new issue of equity shares, with proceeds primarily earmarked for debt repayment and capital-related expenses.
The company plans to use ₹125 crore to repay or prepay certain borrowings and ₹15.7 crore to finance the cost of acquiring capital equipment under existing lease arrangements with Siemens Financial Services. The remaining proceeds will be used for general corporate purposes.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
