Four IPOs to open this week to raise ₹5,000 crore

Nov 7, 2022

By: Bhakti Makwana

IPO market back in action

The primary market is now back in action with back-to-back three initial public offering (IPOs) opening this week -- Archean Chemicals Industries, Five Star Business Finance, Kaynes Technology India and Inox Green Energy.

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Four IPOs opening this week

These four companies collectively plan to raise ₹5,000 crore from the public this week, between November 7-14. Last week, Oct 31-Nov 5, witnessed four IPO launches, with two still ongoing.

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Archean Chemicals Industries to open on November 9

The specialty chemicals company is set to open its ₹1,462 crore IPO on November 9, which will close on November 11. Its price band is fixed at ₹386-407 a share.

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Five Star Business Finance to open on November 9

The Chennai-based NBFC is all set to launch its ₹1,960 crore IPO on November 9 and close on November 11. Its price band is set at ₹450-474 a share.

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Kaynes Technology India to open on November 10

Mysore-based Kaynes Technology’s IPO worth ₹530 crore is all set to open on November 10 and close on November 14. The price band of the IPO set at ₹559-587 per share.

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Inox Green Energy to open on November 11

The wind power operator and subsidiary of Inox Wind will launch its IPO this week on November 11 and close on November 15. The price band of the IPO is set at ₹61-64 per share.

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Two IPOs still ongoing

Meanwhile, two IPOs are still open for investor subscription -- Global Health, which operates hospitals under the brand name Medanta and Bikaji Foods International. Both the IPOs will close for subscription on Monday, November 7.

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Recent IPO debuts have been strong

Despite macro factors weighing heavily on domestic indices, some of the recent IPO debuts on exchanges saw strong listing gains like that of Electronics Mart which listed at a 51 percent premium, and Harsha Engineers at a 36 percent premium.

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Secondary market trading under pressure

Lately, the secondary markets have been under pressure tracking global markets after the US and other central banks hiked interest rates.

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