Among them, Meesho and Aequs appear to be at the top of the GMP charts, with premiums of more than 30% before the opening of the issue. Strong demand in the privately held market is driven by multiple factors, including visibility of the business model, investor interest and robust growth expectations.Meanwhile, Vidya Wires is also turning heads with a double-digit GMP despite being the smallest issue in terms of size. Here you will find a detailed overview of all three upcoming IPOs.
Here are the details of these upcoming IPOs:
Meesho is here
SoftBank-backed e-commerce platform Meesho will launch its Rs 5,421 crore IPO at a price range of Rs 105-111 per share. The issue includes a fresh equity component of Rs 4,250 crore and an offer for sale (OFS) of 10.55 crore equity shares by existing shareholders including Elevation Capital V Ltd, Vidit Aatrey, Sanjeev Kumar, Peak XV Partners and Venture Highway.
The issue opens on December 3 and closes on December 5, while listing is expected on December 10.
The gray market activity indicates strong investor interest, with the stock prices at a GMP of Rs 39-40, implying a potential listing price of around Rs 150-151, a premium of just over 35%.
Analysts have noted that Meesho has established a solid, defensible position in India’s value-driven e-commerce segment, supported by user engagement, scale and improving economics.
According to Perumal Raja KJ, Equity Research – Associate Director, FundsIndia: “With a GMP of 31% and improving fundamentals, the company offers medium-term growth opportunities for investors comfortable with early-stage platform risk.”
Aequs Ltd IPO
Belagavi-based aerospace and consumer manufacturing company Aequs Limited is coming up with an IPO of Rs 921.81 crore in the price range of Rs 118-124 per share. The offer includes a fresh issue of 5.40 crore shares worth an aggregate value of Rs 670 crore and an OFS of 2.03 crore shares worth Rs 251.81 crore.
In the upper band, the issue size stands at Rs 921.81 crore. Retail investors can bid for a minimum of 120 shares, which translates into an investment of Rs 14,880 at the top end.
As of the last update, the gray market premium for Aequs has increased to Rs 41-43 from 20% earlier, indicating a potential listing around Rs 165-167, a premium of around 33%. The increasing enthusiasm indicates strong investor interest ahead of the opening.
Employees participating in the reserved quota will also receive a discount of Rs 11 per share, reducing their effective costs.
IPO of Vidya Wires
Vidya Wires, a Gujarat-based manufacturer of winding and conductivity products, along with Meesho and Aequs, is opening its initial public offering worth Rs 300 crore. The issue will be priced between Rs 48 and 52 per share and will include a fresh equity issue of Rs 274 crore and an OFS of Rs 26 crore by promoter shareholders Shyamsundar Rathi and Shailesh Rathi, who will sell 50.01 lakh shares.
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The gray market premium for Vidya Wires is currently in the range of Rs 9-10, implying an estimated listing price of Rs 61-62 per share, and a potential upside of over 17% over the higher price band.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
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