Upcoming IPO 2024 in India: This week, three companies – Blackstone-backed Aadhar Housing Finance IPO, medical technology company Indegene IPO, and travel sector company TBO Tek IPO are planning to raise a total of Rs 6,400 crore. Will bring an initial public offering (IPO) for. Earlier, JNK India had raised Rs 650 crore through IPO last month.
Mahavir Lunawat, MD of Pantomath Capital Advisors, said that since 2004, not a single IPO (Upcoming IPOs in May 2024) has been launched during May in the last four general election cycles. Typically, the April to June period during these years has been slow for the primary markets due to election uncertainty. However, this trend has now changed with three IPO offerings next week (IPO Watch 2024).
Indegene’s three-day IPO will open today i.e. on May 6 (Indegene IPO opens on May 6), while the IPO of Aadhaar Housing Finance and TBO Tech will open on May 8. Out of the total IPO of these three companies worth Rs 6,393 crore, Rs 4,233 crore will be sold. Will be raised through offer (OFS).
New shares worth Rs 1,000 crore will be issued in the Rs 3,000 crore IPO of Aadhar Housing Finance Ltd and an offer for sale (OFS) worth Rs 2,000 crore will be brought by BCP Topco 7 Pvt Ltd, a subsidiary of Blackstone Group Inc. Currently, Aadhar Housing BCP Topco has 98.72 percent stake and ICICI Bank has 1.18 percent stake. The price range for the company’s IPO has been fixed at Rs 300-315 per share.
The price band for the Rs 1,842 crore IPO of medical sector technology company Indigen has been fixed at Rs 430-452 per share. In its IPO, new shares worth up to Rs 760 crore will be issued and 2.34 crore equity shares worth Rs 1,082 crore will be issued. There will be a sale offer.
In TBO Tech’s IPO, new shares worth Rs 400 crore will be issued while 1.25 crore equity shares worth Rs 1,151 crore will be offered for sale.
