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IPO market set for a busy week; 4 firms to raise ₹ 4,500 cr via public offer
The primary market is set for a busy week starting October 31 to November 4 as a total of four companies have lined up to launch their initial public offering (IPO). Talking about the IPO market, Vinod Nair, Head of Research at Geojit Financial Services said, "Volatility of the secondary market has led to a weak IPOs market in 2022 and it is expected to remain subdued going ahead." The bid will be available for subscription till November 7. Of the total issue size, 50% of the IPO will be allocated to qualified institutional buyers (QIB), while 15% of the size will be kept for non-institutional investors and the remaining 35% for retail individuals. The price band for the IPO is fixed at ₹319 per share and ₹336 per share respectively. JM Financial, Axis Capital, IIFL Securities, Intensive Fiscal Services, and Kotak Mahindra Capital Company are the lead managers for the IPO. Source - MINT #ipo
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