IPO Alert: 13 New IPOs Opening This Week, who to watch out for on September 9?

This week, starting from September 9, 2024, the Indian stock market is set to witness a significant influx of initial public offerings (IPOs). A total of 13 new IPOs will be available for subscription, with eight companies preparing to list their shares. This surge in IPO activity is driven by strong investor demand and a buoyant market environment.

Overview of Upcoming IPOs

Key IPO Dates and Details

The following IPOs are scheduled to open for subscription this week:

• Gajanand International
  • Open Date: September 9, 2024
  • Close Date: September 11, 2024
  • Price: ₹36 per share
  • Minimum Investment: ₹108,000 (for 3,000 shares)
• Bajaj Housing Finance
  • Open Date: September 9, 2024
  • Close Date: September 11, 2024
  • Expected Raise: ₹6,560 crore
  • Price Band: ₹66-70 per share
• Kross Limited
  • Open Date: September 9, 2024
  • Close Date: September 11, 2024
  • Expected Raise: ₹500 crore
  • Price Band: ₹228-240 per share
• Tolins Tyres
  • Open Date: September 9, 2024
  • Close Date: September 11, 2024
  • Expected Raise: ₹230 crore
  • Price Band: Not specified yet
• P N Gadgil Jewellers
  • Open Date: September 10, 2024
  • Close Date: September 12, 2024
  • Expected Raise: ₹1,100 crore
  • Price Band: ₹456-480 per share

Additional IPOs

Other IPOs opening this week include:

• Share Samadhan
• Shubhshree Biofuels Energy
• Aditya Ultra Steel
• Trafiksol ITS Technologies
• SPP Polymer
• Innomet Advanced Materials
• Excellent Wires & Packaging

These companies are expected to raise between ₹12 crore to ₹45 crore each through their respective IPOs.

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Market Context and Investor Sentiment

The IPO frenzy this September is notable for its scale and potential impact on the market. With over 15 companies expected to launch their IPOs, this could be the largest lineup in 14 years. The previous month saw a strong performance from IPOs, with many being oversubscribed. For instance, August saw an average subscription rate of 75 times for main board IPOs, indicating robust investor interest. Bankers attribute this surge in IPO activity to several factors, including:

• Strong Secondary Market Performance: Recent IPOs have performed well post-listing, encouraging more companies to go public.
• Investor Liquidity: Both domestic and foreign institutional investors are showing strong interest, with substantial investments in the primary market.
• Optimistic Corporate Outlook: Companies are looking to expand and capitalize on favorable market conditions.

What Investors Should Consider

Investors looking to participate in these upcoming IPOs should consider the following:

1. Research the Companies: Understanding the business model and financial health of the companies is crucial.
2. Subscription Dates: Keep track of the opening and closing dates for each IPO to ensure timely applications.
3. Investment Amounts: Be aware of the minimum investment requirements, especially for retail and high-net-worth individuals.
4. Market Trends: Monitor market conditions and investor sentiment, as these can significantly affect IPO performance.
5. Consult Financial Advisors: If unsure, seeking advice from financial experts can help make informed decisions.