IPO activity cools next week with just one new issue. Tata Capital, LG Electronics listings in focus

The Indian primary market is set for a quieter week, with just one initial public offering (IPO) from the mainboard’s Midwest. Meanwhile, three pending motherboards and three SME issues will complete their bidding process. The much-awaited listings of Tata Capital and LG Electronics are scheduled for Monday and Tuesday respectively, while eight other companies are also set to debut on the stock exchanges this week. Check details:

Midwest IPO Price Band at Rs 1,014-1,065 to Raise Rs 451 Crore

The Rs 451 crore Midwest IPO will open for subscription on Wednesday, October 15. The issue is a combination of a fresh issue of 23 lakh shares, worth Rs 250 crore, and an offer for sale (OFS) of 19 lakh shares, worth Rs 201 crores.

The company has fixed the price range at Rs 1,014.00 to Rs 1,065.00 per share. The lot size for an application is 14. The minimum investment amount required by a private investor is Rs 14,910. The lot size investment for sNII is 14 plots (196 shares) which works out to Rs 2,08,740 and for bNII it is 68 plots (952 shares) which works out to Rs 10,13,880.

The company claims to be the largest producer of Black Galaxy and Absolute Black granite in India.

DAM Capital Advisors, Motilal Oswal Investment Advisors and Intensive Fiscal Services are the lead managers, and KFin Technologies is the registrar.

Ongoing issues

Current issues in the motherboard segment include the IPO of Canara HSBC Life Insurance, the IPO of Canara Robeco AMC and the IPO of Rubicon Research.

Canara HSBC Life Insurance Company’s initial public offering (IPO) worth Rs 2,517.50 crore opened for bids on Friday. On Day 1, the issue was subscribed to just 9%, with bids for shares of Rs 1.51 crore against the shares on offer of Rs 16.67 crore. The matter will close on Tuesday

Canara Robeco Asset Management Company’s initial public offering (IPO) worth Rs 1,326 crore entered its second day of bidding on October 10. At the end of Day 2, there had been a 48% subscription to the issue, with bids placed for around 1.68 crore shares against the total 3.48 crore shares on offer. The matter will be closed on Monday.

Rubicon Research’s Rs 1,377-crore IPO, which opened for subscription on Thursday, was subscribed 2.37 times, with bids for shares of 3.89 crore against 1.64 crore shares on offer. The matter will be closed on Monday.

In the SME segment, the public issues of Sihora Industries, SK Minerals & Additives and Shlokka Dyes close on Tuesday.

IPO listing

Ten companies are making their stock market debut this week. Tata Capital’s IPO will be listed on Monday and LG Electronics will debut on Tuesday, October 14. Canara Robeco, Rubicon Research and Anantam Highways InvIT will go public on Thursday, October 16. Canara HSBC is likely to go public next Friday.

In the SME segment, Mittal Sections will list on Tuesday, while Sihora Industries, Shlokka Dyes and SK Minerals will list on Friday, October 17.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times).