Key IPOs to watch this week: Companies collectively aim to raise over Rs 7,300 crore

Six companies are set to make a splash on Dalal Street, collectively aiming to raise over Rs 7,300 crore through initial public offerings (IPOs). Among these, Tata Technologies and Indian Renewable Energy Development Agency (IREDA) stand out as major contenders.

Here are the six upcoming IPOs for this week.

Tata Technologies IPO

The much-anticipated Tata Technologies IPO is scheduled to open for subscription on November 22 and will conclude on November 24. Priced between ₹475 and ₹500 per share, this marks the first IPO from the Tata Group in nearly 19 years. The engineering services firm, valued at over Rs 20,000 crore, plans to raise ₹3,042.51 crore through the Offer for Sale (OFS), with Tata Motors, Alpha TC Holdings Pte Ltd, and Tata Capital Growth Fund I participating as selling shareholders. The grey market premium of Tata Technologies IPO, last updated on November 20, 2023, is ₹351.

IREDA IPO

IREDA, a Mini Ratna enterprise, takes the lead among the six IPOs, opening for subscription on November 21 and closing on November 23. With a price band of Rs 30 to Rs 32 per share, the financial entity aims to raise over Rs 2,150.21 crore. The IPO includes a new offering of 40.31 crore equity shares and a government offer-for-sale (OFS) involving 26.87 crore shares. The grey market premium of the IREDA IPO, last updated on Nov 20th, 2023, was Rs 7.

Gandhar Oil Refinery India IPO

Gandhar Oil Refinery India, a white-oils manufacturer, is set to open for bidding on November 22, closing on November 24, with a price band of Rs 160 to Rs 169 per share. The Mumbai-based company seeks to raise over Rs 500.69 crore through a new issuance of shares and an Offer for Sale (OFS) involving 1.17 crore equity shares. The grey market premium of Gandhar Oil Refinery IPO is Rs 52 above the issue price.

Fedbank Financial Services IPO

Launching on November 22 and closing on November 24, Fedbank Financial Services aims to raise over ₹1,092 crore. Priced between ₹133 and ₹140 per share, the Non-Banking Financial Company’s IPO includes a new issuance of shares and an offer-for-sale (OFS) featuring 3.5 crore equity shares. The grey market premium Fedbank Financial Services IPO is Rs 8 over the issue price. 

Flair Writing Industries IPO

Mumbai-based stationery products manufacturer, Flair Writing Industries, will float its IPO from November 22 to November 24, with a price band of ₹288 to ₹304 per share. The company aims to raise ₹593 crore through a combination of new shares and an Offer for Sale (OFS) by the Rathod family. The grey market premium of Flair Writing Industries IPO is Rs 67.

Rocking Deals Circular Economy IPO

Specializing in bulk trading of surplus inventory and re-commerce products, Rocking Deals Circular Economy is set to initiate its public offering on November 22. Priced between ₹136 and ₹140 per share, the B2B re-commerce company aims to raise ₹21 crore through a fresh issue of shares. The grey market premium of Rocking Deals Circular Economy IPO is Rs 35.