The primary market will see heavy activity this week as 6 mainboard companies enter the market to raise a total of Rs 3,825 crores through initial public offerings (IPOs). Elevate Campuses and Varmora Granito are prominent among them. All these IPOs will open for subscription between September 22 and September 28. Most of the IPOs will open on September 23. Apart from Elevate Campuses and Varmora Granito, A-One Steels India, Armi Infotech, Swastika Infra and Adroit Industries (India) will also open for subscription this week
Elevate Campuses to launch Rs 2,100 crore IPO
Hillhouse Investments-backed Elevate Campuses will launch its Rs 2,100 crore initial public offering on September 23. The company has set a price band of Rs 343-362 per share. The issue will close on September 25, and the shares will be listed on September 30. The IPO will consist entirely of new shares and does not involve any OFS.
Elevate Campuses IPO GMP
According to Investorgain, the Elevate Campuses IPO is commanding a grey market premium (GMP) of around Rs 362 today, implying a potential 4.42 per cent premium over the issue price of Rs 362.
Varmora Granito IPO to open on September 22
Varmora Granito’s Rs 708 crore initial public offering (IPO) will be open for subscription between September 22 and 24. The price range for the initial offering is Rs 140-148 per share. The issue will involve the issuance of new shares worth up to Rs 320 crore, while investor Katsura Investments will sell 26.2 million shares worth approximately Rs 388 crore through the OFS.
Varmora Granito IPO GMP
Varmora Granito’s unlisted shares are trading at a grey market premium (GMP) of Rs 9. Considering the upper price band of Rs 148, the company’s shares are expected to list at around Rs 157, reflecting a grey market premium of 6.08 per cent.
A-One Steels India IPO
Integrated steel manufacturer A-One Steels India will be available for subscription between September 24 to 28, aiming to raise Rs 405 crore. The company has set a price band of Rs 385-405 for its shares. This includes a fresh issue of Rs 355 crore and an OFS of up to Rs 50 crore.
A-One Steels India IPO GMP
According to Investorgain, the A-One Steels India IPO is commanding a grey market premium (GMP) of around Rs 60 today, implying a potential 14.81 per cent premium over the issue price of Rs 405.
Army Infotech to launch Rs 300 crore IPO
Army Infotech’s Rs 300 crore initial public offering (IPO) will open from September 23 to 25. The company has set a price band of Rs 350-375 per share. The offering will consist entirely of new shares and there will be no OFS.
Army Infotech IPO GMP
Army Infotech’s unlisted shares are trading at a grey market premium (GMP) of Rs 1. Considering the upper price band of Rs 375, the company’s shares are expected to list at around Rs 376.
Swastika Infra and Adroit Industries IPO to open on September 23
Swastika Infra’s Rs 161 crore IPO will be open for subscription from September 23. Its price range is Rs 175-185 per share and Adroit Industries (India)’s Rs 151 crore IPO will also be open from September 23. Its price range has been fixed at Rs 126-134 per share.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
