IPO calendar: The primary market is regaining momentum with the opening of three new issues next week

After a quiet phase this week with no major stock market listings, India’s primary market is expected to pick up the pace as three new public issues worth over Rs 1,750 crore are open for subscription this week. The offering includes Orkla India, Game Changers Texfab and Jayesh Logistics, covering both motherboard and SME segments. Analysts say the renewed action could set the tone for a busy November season, especially as the market nears record highs and investor appetite for new issues returns.

Orkla India: FMCG major floats IPO of Rs 1,667 crore

The highlight of the week is the Rs 1,668 crore IPO of Orkla India, the Indian arm of Norwegian food and consumer goods giant Orkla ASA, known for household brands such as MTR Foods, Eastern Condiments and Rasoi Magic. The pure offer-for-sale (OFS) issue will open on October 29 and close on October 31 with a price band of Rs 695-730 per share.

ICICI Securities is the lead manager and the shares will be listed on both the BSE and NSE.

The company has a strong presence in India’s packaged foods and spices segment, and the IPO is expected to test investor sentiment towards consumer staples following a series of technology and industrial offerings in recent months. The gray market premium (GMP) for Orkla India is currently hovering around 8-10%, indicating mild optimism about the listing.

Game Changers Texfab: Textile SME eyes Rs 55 crore

Textile manufacturer Game Changers Texfab will open its SME IPO worth Rs 54.84 crore on October 28 and close on October 30. The price range is between Rs 96 and Rs 102 per share and the issue will be listed on BSE SME. Backed by Corpwis Advisors, the company is into the business of trading and processing of fabrics with an established base in Gujarat. Proceeds from the IPO will be used for working capital needs and capital expenditures.

Jayesh Logistics: Expanding the logistics game

Logistics services provider Jayesh Logistics will open its Rs 28.63 crore IPO on October 27 and close on October 29, with a price range of Rs 116-122 per share. The company’s shares will be listed on the NSE SME platform and Indcap Advisors will be the lead manager.

Jayesh Logistics provides transportation, warehousing and supply chain management services to industrial customers across India. The money raised will be used for working capital and general corporate purposes.

Market Outlook: Momentum is increasing again

Analysts say the week’s offering could mark the revival of IPO activity after a brief post-listing lull in the Midwest.
Eyewear market leader Lenskart is likely to announce its IPO in the coming days.

Veeda Clinical Research, Casagrand Premier Builder, ICICI Pru AMC, Clean Max Enviro, Fujiyama Power Systems, Pranav Construction, Innovision Ltd and KSH International are some of the other companies targeting the November listing.

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