Summary of this article
Upcoming IPOs This Week: Two major listings are scheduled to take place this week.
Tata Capital Ltd and LG Electronics India Ltd share are set to debut in the first two days of the week.
In the upcoming week, action on D-street is expected to cool-down. Notably, only one mainboard issue is scheduled to open for subscription. However, investors are likely to continue to monitor activity on the exchanges as shares of several significant public issues are also scheduled to take place in the upcoming week.
Here are some key details related to the primary market activity, which is scheduled to happen in the upcoming week:
New And Ongoing IPOs
In the upcoming week, primary market investors can place bids for the public issues of MidWest Ltd, Canara Robeco Asset Management Co.Ltd, Rubicon Research Ltd and Canara HSBC Life Insurance Co.Ltd. On the SME board, investors will be able to bid for shares of SK Minerals & Additives Ltd, Shlokka Dyes Ltd and Sihora Industries Ltd.
Midwest IPO
Midwest’s IPO will open for subscription on October 15 and close on October 17. It is worth Rs 451 crore and comprises a fresh issue of 2.3 million shares amounting to Rs 250 crore and an offer for sale component of 1.9 million shares aggregating to Rs 201.00 crore.
The Midwest IPO issue price has been fixed at Rs 1014 - 1065 per share. Retail investors can bid for the granite producer’s public issue by applying for at least 14 shares, which aggregates to an investment of Rs 14,910. The share allotment status of the Midwest IPO will be finalised on October 20, and the shares will be listed on the NSE and BSE on October 24.
Midwest Ltd is a producer and exporter of black granite. The company also undertakes mining and export operations for other natural stones.
Canara HSBC Life Insurance Co IPO
Canara HSBC Life Insurance Co IPO opened for subscription on October 10. The public is scheduled to close for subscription on October 14. It is worth Rs 2,517.5 crore and consists of an OFS component of 237.5 million shares.
Canara HSBC Life Insurance Co IPO price band has been fixed at Rs 100-106 per share. Retail investors can bid for the private insurer’s public issue by applying for at least 140 shares, which aggregates to an investment of Rs 14,840. The share allotment status of Canara HSBC Life Insurance Co IPO will be finalised on October 15, and the shares will be listed on the NSE and BSE on October 17.
On the first day of subscription, Canara HSBC Life Insurance Co was booked 9 per cent across categories. The private insurer’s public issue was subscribed to 47 per cent in the employees category. So far, retail investors have led the demand for the public issue, booking 14 per cent. On the other hand, qualified institutional buyers(QIBs) and non-institutional investors(NIIs) booked Canara HSBC Life Insurance Co IPO 3 per cent and 5 per cent respectively.
Canara HSBC Life Insurance Co is a private life insurer based in India the company provides products such as individual life insurance, group insurance solutions (credit life, protection plans) and retirement & pension products.
Rubicon Research IPO
Rubicon Research’s IPO opened for subscription on October 9 and is scheduled to close on October 13. The pharmaceutical company’s public issue is worth Rs 1,377.50 crore, comprising an equity issue of 10.3 million shares amounting to Rs 500 crore and an offer for sale of 18.1 million shares aggregating to Rs 877.5 crore.
Rubicon Research’s IPO issue price has been fixed at Rs 461-485 per share. Retail investors can bid for the pharma company’s public issue by applying for at least 30 shares, which aggregates to an investment of Rs 14,550. The share allotment status of the Rubicon Research IPO will be finalised on October 14, and the shares will be listed on the NSE and BSE on October 16.
Rubicon Research IPO has been booked 2.37 times so far. Employees of the pharma company booked the issue 2.21 times. Retail investors led the demand for the pharma company’s shares booking their quota 3.94 times. NIIs and QIBs booked their quota 1.82 times and 2.11 times respectively on the second day of subscription.
Rubicon Research operates as a pharma company engaged in the development, manufacturing, and commercialisation of differentiated formulations.
Canara Robeco Asset Management Co IPO
Canara Robeco Asset Management Co IPO’s subscription window opened on October 9. The asset management company’s public issue is expected to close on October 14. Canara Robeco Asset Management Co seeks to raise Rs 1,326.13 crore via an OFS of 49.9 million shares.
The issue price has been fixed at Rs 253-266 per share. Retail investors can bid for the asset management company’s public issue by applying for at least 56 shares, which aggregates to an investment of Rs 14,896. The share allotment status of Canara Robeco Asset Management Co IPO will be finalised on October 14, and the shares will be listed on the NSE and BSE on October 16.
Canara Robeco Asset Management Co is the investment management arm of Canara Robeco Mutual Fund. The company offers a wide range of investment options across equity, debt, and hybrid schemes.
At the end of the second day of bidding, the asset management company’s issue was subscribed 48 per cent. The issue has been subscribed 74 per cent in the retail category, 53 per cent in the NII category.
IPOs Set For Listing
Shares of as many two mainboard companies are set to make their D-street debuts in the first two days of the upcoming week. Additionally shares of Mittal Sections Ltd are also scheduled to list on the BSE SME platform on October 14. Shares of Tata Capital Ltd are set to list on the exchanges on October 13 and shares of LG Electronics India Ltd will list on October 14.
