Post-Diwali IPO rush: Five public issues to hit the streets this week

Nov 20, 2023

By: Katya Naidu

The November rush

Samvat 2080 started off with a big bang for the primary markets. Five initial public offers (IPOs) IPOs and an NSE IPO are hitting the street intending to raise as much as ₹7,398 crore, starting Nov 21, 2023.

Credit: Pixabay

The Big IPO clash

Apart from Tata Technologies, which opens on Nov 22, government-owned IREDA, and Fedbank Financial Services, Gandhar Oil and Flair Writing, and an SME IPO, Rocking Deals will provide a variety of options for IPO investors this week.

Credit: IANS

Tata Tech: House of Tatas

After a gap of 19 years, a Tata group company is hitting the stock markets. Tata Tech, an engineering R&D company intends to raise ₹3,042 crore with a price band of ₹475-500. It’s a complete offer-for-sale (OFS) by its promoter Tata Motors, and other selling shareholders.

Credit: IANS

Third biggest IPO this year

It’s the third biggest IPO to hit the markets this year after Mankind Pharma and Nexus Select Trust. In addition to banking on large auto clients, it is eyeing business from EV players along with aviation clients.

Credit: IANS

Flair Writing

The company which makes Flair brand of pens among other things, is planning to raise as much as ₹593 crore. The IPO which opens on NOvember 22, has fixed a price band of ₹288-304.

Credit: IANS


The Government of India promoted company finances renewable energy projects exclusively, and intends to raise as much as ₹2,150 crore. Its IPO opens on Nov 21, with a price band of ₹30-32 per share.

Credit: IANS

Third of its kind

This is the third such public enterprise to list on the bourses, after REC and Power Finance Corporation. It intends to use the net proceeds from fresh issue to augment its capital base and onward lending.

Credit: IANS

Fedbank Financial Services

The NBFC promoted by Federal Bank ₹1,092 crore IPO will open alongside Tata Technologies on November 22. It’s fixed at ₹133-140 per equity share.

Credit: Company

One in five

The NBFC which is mainly focussed on MSME loans, gold loan claims to be one of the five private bank promoted NBFCs in the country. It intends to use net proceeds to augment Tier-I capital base among others.

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Gandhar Oil

Specialty oil manufacturer Gandhar Oil is a leading manufacturer of white oils in India. It has supplied products to 3,500 clients in FY23 including large FMCG players like P&G, Unilever, Marico and more. It aims to raise ₹500.6 crore via an IPO, and has fixed a price band of ₹160-169 per share. The IPO will open on Nov 22.

Credit: IANS

Rocking Deals Circular Economy

The company is opening its NSE SME IPO on Nov 22 with a price band of ₹136-140. IT aims to raise ₹21 crore via the IPO, and is a sourcing platform for unboxed, certified refurbished, excess inventory products across the consumer retail space.

Credit: BCCL

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