New Delhi, Aug 16 (IANS) The initial public offering (IPO) season has warmed up and at least 25 companies, already approved by the market regulator SEBI, are planning to enter the market to raise about Rs 22,000 crore in the coming few weeks, analysts said on Friday.
Despite the ups and downs in global stock markets, the Indian primary market continues to be robust, they said.
In the first week of August, four companies launched IPOs worth over Rs 11,850 crore, and they were all successful, according to Pantomath Capital Advisors.
“India’s IPO success story is taking shape amid global economic uncertainty and geopolitical tensions. Whether the country can keep up this momentum, amidst the global challenges, will depend on several factors, including economic growth, the regulatory landscape, and global market trends,” the analysts noted.
Ola Electric Mobility shares saw a rally and were locked in the upper circuit of 20 per cent at Rs 133.08 on Friday, its new high. Ola Electric is now valued at Rs 58,664 crore. With the fresh rally, Ola Electric is trading 75 per cent higher against its issue price of Rs 76 per share on August 9.
The stock of Brainbees Solutions, the parent company of FirstCry, listed at Rs 651 against the IPO price of Rs 465, a premium of 40 per cent. While on the BSE it started trade at Rs 625, a premium of over 34 per cent.
Meanwhile, the Indian market is consolidating in narrow range for short term. On economic data front, the WPI for the month of July cooled in July on low food prices and primary articles.
According to market watchers, SIP contributions reaching an all-time high of Rs 23,331.75 crores in July against Rs 21,262 crore in June reflects the growing financial discipline among retail investors, helping them build wealth systematically over time.
Such kind of strong inflow is long-term positive for Indian equity markets. India’s forex reserve stood around $674.9 billion in the first week of August.
–IANS
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