Primary market bustling despite unrest; seven initial public offerings (IPOs) this week, including Cello World and Mamaearth

 Primary market bustling despite unrest; seven initial public offerings (IPOs) this week, including Cello World and Mamaearth

There will be IPOs totaling around Rs 3,734 crore, and two companies will debut on the market under difficult circumstances. In the last week, the Sensex and the Nifty fell 2.5 percent and are now 6 percent below their all-time highs.

This week saw six initial public offers (IPOs) totaling Rs 3,734 crore hit Dalal Street as the market was agitated due to concerns about US bond rates, FII selling, and the deteriorating situation in West Asia. This week, two businesses also make their market debut.

Benchmarks for equities, the Sensex and the Nifty, fell 2.5 percent last week and are now 6 percent below their all-time highs. It remains to be seen whether the pessimism would affect public offers, such as those of Cello World and Honasa Consumer.

IPO of Cello World

On October 30, consumer products business Cello World will be the first on the mainboard to undertake its initial public offering (IPO). The price range for the Rs 1,900-crore offering, which is the promoters Rathod family's offer to sell shares, is set at Rs 617–648 a share. It is scheduled to conclude on November 1.

On October 27, the Mumbai-based company collected Rs 567 crore through anchor investors to invest. Nomura, Goldman Sachs, Florida Retirement System, Morgan Stanley, HSBC, CLSA, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Trustee, HDFC Mutual Fund, as well as SBI Life Insurance Company were among the well-known names that took part in the anchor book.

IPO of Mamaearth

On October 31, the much-anticipated initial public offering (IPO) of Mamaearth's parent company, Honasa Consumer, would go up for bids in the Rs 308–324 price range. The bidding for the anchor book will begin on October 30 and end on November 2, respectively, with the Rs 1,701-crore offer.

The offer consists of an offer-for-sale (OFS) of 4,12,48,162 equity shares by promoters and investors, valued at Rs 1,336 crore, and a new issuance of shares at Rs 365 crore.

The selling shareholders of the direct-to-consumer (DTC) business located in Gurugram include Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansal, as well as Shilpa Shetty Kundra.

The IPO of Transteel Seating Technologies

Transteel Seating Technologies, a furniture business located in Karnataka, is set to launch its Rs 49.98-crore subscription service in the SME category on October 30. The sale, which ends on November 1, has a price range of Rs 67–70 per share.

A new issuance of 67.84 lakh shares valued at Rs 47.49 crore and an OFS of 3.56 lakh shares valued at Rs 2.49 crore by founder Nasreen Shiraz make up the 71.4 lakh-share IPO.

IPO for Vrundavan Plantation

Vrundavan Plantation, a nursery firm situated in Gujarat, will begin its initial public offering (IPO) on October 30 and continue through November 1.

A new issuance of 14.16 lakh shares at an issue price of Rs 108 per share is part of the fixed-price offer.

IPO of Mish Designs

The offer from clothing producer Mish Designs will go up for bids on October 31 and end on November 2. With the further 8 lakh shares being offered, the offer aims to generate Rs 9.76 crore at a price of Rs 122 per share.

IPO for SAR Televenture

SAR Televenture, a firm that offers telecommunication solutions, is scheduled to begin its public issue on Thursday, the fourth day of the week. Opening on November 1 and closing on November 3, the IPO is a wholly new offering. The offer's price range is set at Rs 52–55 per share.

The Gurugram-based business plans to offer 45 lakh shares at the higher price range in an attempt to raise Rs 24.75 crore.

India's Baba Food Processing IPO

On November 3, Baba Food Processing India, a manufacturer of agro-foods, will begin its initial public offering (IPO). The Rs 33-crore initial public offering (IPO), which is just a new issue, will close on November 7.

The Ranchi-based business is offering it as a book-built public offering with shares priced between Rs 72 and Rs 76.

Problems Ending Next Week

The Rs 51.66-crore initial public offering of Paragon Fine and Speciality Chemicals expires on October 30. The offer received a resounding reaction when it opened on October 26 and has already been subscribed to 34.18 times.

The IPO for Maitreya Medicare, which has also received a great reception, is scheduled to conclude on November 1. There have been 21.40 subscriptions to the Rs 14.89-crore offering from the multispecialty hospital located in Surat.

The Karnataka-based company Shanthala FMCG Products' Rs 16.07-crore initial public offering (IPO) will end on October 31. On October 27, the day the issue went live for subscriptions, all bids came in at 1.36 times the amount of the offer.

The Rs 8.78-crore public offering by KK Shah Hospitals will end on October 31. On the first day of the offering, October 27, the IPO received 1.4 subscriptions.

The listings for this week

Blue Jet Healthcare, a pharmaceutical business, is anticipated to make its market debut on November 1 on the mainboard category, sources informed Moneycontrol. This indicates that the company is aiming for a T+3 listing timeframe rather than the T+6 timetable specified in the IPO calendar.

Throughout the October 25–27 subscription period, 7.94 subscriptions were made to the Rs 840.27–crore public offering. According to experts, Blue Jet's premium on the grey market was only around 6%, down from 10% before. The IPO shares may be purchased and sold on the grey market, an unauthorized marketplace, up to the listing.

On October 31, Rajgor Castor Derivatives, a maker of goods based on castor oil, will float on the NSE Emerge.

The Rs 47.81-crore offer had been signed up 108.3 times between October 17 and 20, and in the grey market, shares were trading at an advantage of around 10 to 15 percent above the issue price of Rs 50.