Indian Stock Market, IPO, Hyundai, SME IPO, SEBI, Nifty, Capital Requirement, Garuda, Freshara, Lakshya

The much-awaited week for eager investors and market analysts has finally come up, starting October 14. The week brings with itself, the Initial Public Offering(IPO) of Hyundai Motor India, which is estimated to be Rs 27,870 Crores. This IPO is the largest in India’s history. The previous record for the largest public issue was held by Life Insurance Corporation(LIC) which was Rs 21,008 Crores followed by One 97 Communications(Paytm) at Rs 18,300 public issue in 2021. Coal India stands next with an amount of Rs 15,199 Crores in 2010.

A certain optimism centred around Indian government initiatives and the expected growth of the economy, in general, is driving the Indian IPO market. As per most experts and analysts, these public offerings are driven towards securing growth capital. Some of the major IPOs that are approved by capital markets regulator SEBI and are lined up are – NTPC Green Energy, Swiggy, SK Finance, Afcons Infrastructure, NSDL, Acme Solar Holdings, Mobikwik, Waaree Energies, Enviro Infra Engineers, Suraksha Diagnostics and Zinka Logistics.

Hyundai Motor India is India’s 2nd largest passenger car maker. The mega IPO will be launched on October 15, with a price band of Rs 1,865-1,960 per share. The 8,315-crore anchor group(up to 60 per cent of the qualified institutional investors’ book) will be opened up on October 14, a day before the issue. The IPO closes on October 17 and is entirely an offer-for-sale of 14.2 equity shares by South Korean parent Hyundai Motor Company which is asking for Rs 1.59 lakh crores in market cap for its Indian subsidiary. The firm has reserved 7,78,000 equity shares for its employees who will receive these shares at a discount of Rs 186 per share to the final IPO price.

Lakshya Powertech :

Another IPO from the SME segment, opening on October 16 till October 18 is Lakshya Powertech. The Gujarat-based engineering firm plans to raise Rs 50 Crores through its public issue. The price band for the book-built issue has been fixed at Rs 171-180 per share. The shares will debut on NSE Emerge on October 23.

Freshara Agro Exports IPO:

This firm processes and exports pickled vegetables. The IPO will open for this firm on October 17 with a price band of Rs 110-116 per share. The share will be listed on NSE Emerge on October 24.

Garuda Construction and Engineering:

This Mumbai-based firm will list its share on the NSE and BSE on October 15. The issue price has been fixed at Rs 95 per share for its Rs 264 Crores IPO.