Three new IPOs to hit the markets next week, while Campus Activewear and Rainbow Children's Medicare will list on exchanges

• Three new IPOs will open for subscription next week — Delhivery, Prudent Corporate Advisory Services, and Venus Pipes & Tubes.
• At the same time, two IPOs — Campus Activewear and Rainbow Children's Medicare — will debut on the exchanges.
• The IPO of LIC will remain open for subscription till May 6, Monday.

Initial public offering (IPOs) are back in town and next week will be one of the busiest weeks for the primary market as three issues will open for subscription and two others will hit the market.

The IPOs of Delhivery, Prudent Corporate Advisory Services, and Venus Pipes & Tubes will be launched next week.

At the same time, two IPOs – Campus Activewear and Rainbow Children's Medicare will debut on the exchanges.

The current weak market sentiment may have some bearing on the flow of primary investments. The Indian stock market is facing a huge sell-off which has wiped out nearly ₹5 lakh crore investor wealth today.

Investors are concerned with rising inflation and the rate of borrowing money in the country.

Adding to it, the largest IPO of LIC witnessed poor demand due to weak market conditions and RBI’s sudden rate hike.

Here are the three IPOs opening next week:

Delhivery IPO to open on May 11 to raise ₹5,235 crore

New age logistics startup Delhivery is all set to go for an IPO next week to raise ₹5,235 crore. The company had initially planned to raise ₹7,460 crore, but decided to reduce the issue size by a third because of volatile equity market conditions and the ongoing LIC IPO that may eat up the liquidity.

Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, cross-border express among others.

The net proceeds from the IPO will be used to fund its acquisitions and expansion plans.

The IPO will open on May 11 and close on May 13 with a price band of ₹462 - ₹487 per share .

Shares of the company are already commanding a premium of ₹25 per share in the grey market.

Prudent Corporate Advisory Services IPO will open on May 10 to raise ₹538 crore

The IPO from retail wealth management firm Prudent is a complete offer for sale of 85.49 lakh shares by promoters and shareholders of the company.

The company offers mutual fund products, insurance products, stock broking services, fixed income products, gold accumulation plan and so on.

It provides wealth management services to 7.72 lakh unique retail investors through 17,583 mutual fund distributors (MFDs) as on May 31, 2021.

The IPO will open on May 10 and close on May 12 with a price band of ₹595 - ₹630 per share.

Prudent Corporate shares have been commanding a premium (GMP) of ₹35 in the grey market.

Venus Pipes & Tubes to open on May 11 to raise ₹165 crore

This Gujarat-based company is a pipes and tubes manufacturer with the sole focus on manufacturing of welded and seamless pipes in a single metal category, i.e., stainless steel.

It sells products in both domestic and international markets with exports to 18 countries including Brazil, UK, Israel and countries in the European Union, among other countries.

The proceeds from the IPO will be used to finance capacity expansion and to meet the long-term working capital requirements of the company.

It has a manufacturing unit at Dhaneti in Kutch with a total installed capacity of 10,800 metric tonnes per annum.

The IPO will open on May 11 and close on May 13 with a price band of ₹310 - ₹326 per share.


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