There will be a lot of movement in the primary market next week. The main reason for this is the 5 IPOs which are going to open for subscription in the market. Out of which two IPOs are going to be very important. Modi government owns a company which invests in renewable energy. The name of this company is Irde. The name of the second company is Tata Tech. Tata Group is going to bring IPO of any of its companies after almost 19 years. For this reason this IPO has become very important. The value of the IPO of these five companies is being estimated at Rs 7300 crore, which means that investors can earn huge profits in the coming days. Let us also give you detailed information about these five IPOs.
Tata Technologies Limited
After 19 years, the first IPO of Tata Group is going to come in the form of Tata Technologies Limited. Its subscription will open on 22nd November and will close on 24th November. The company has fixed the price band for the issue at Rs 475-500. According to dealers, before the IPO, the demand for the stock is very high due to which the company’s shares are trading at a premium of Rs 240-260 per share over the issue price in the gray market. The company is issuing its shares through OFS. Promoter Tata Motors will sell 4.62 crore shares in the offer. Under the IPO, Tata Technologies has reserved 10 per cent quota for eligible shareholders of Tata Motors.
Indian Renewable Energy Development Agency
The Rs 2,150 crore IPO of the green financing NBFC firm will open for subscription on November 21 and close on November 23. The government has fixed the price band for the IPO at Rs 30-32 per share. Gray market trends showed that the stock was trading at a premium of around Rs 8-9 to its issue price. The IPO involves fresh issuance of up to 403.16 million shares and offer for sale of 268.78 million shares by the government.
Fedbank Financial Services
The Rs 1,092 crore IPO of the financial services firm will open for subscription on November 22. Will close on 24th November. The company has fixed the price band at Rs 133-140 per share. This issue includes fresh issue of Rs 600 crore and OFS of 3.52 crore shares. Demand for the company’s shares is being seen in the gray market. Its shares are trading at a premium of about Rs 10 over the issue price.
Flair Writing Industries
The IPO of this company, which raised approximately Rs 593 crore, will also open on November 22. And will close on 24th November. For this, the price band has been fixed at Rs 288-304 per share. The IPO includes fresh issue of shares worth up to Rs 292 crore and OFS worth Rs 301 crore by existing shareholders.
Gandhara Oil Refinery India
This will be the fourth issue which will be open for subscription between November 22 and November 24. The price band for the issue has been fixed at Rs 160-169. This issue includes fresh issue of 1.79 crore shares worth Rs 302 crore and OFS of 1.18 crore shares worth Rs 199 crore.
Source: www.tv9hindi.com”