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Four IPOs, Four opportunities at Dalal Street

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As we start the second week of the new year, with the market continuing to be volatile, things are looking up because four new companies are launching their initial public offerings (IPOs) this week. These include the Jyoti CNC Automation IPO, which seems to be stealing the spotlight. Apart from that, Australian Premium Solar (India), IBL Finance, and New Swan Multitech will also be launching their IPOs.

The first mainboard IPO of 2024, the Jyoti CNC Automation IPO, has entered its last day for subscription today.

The company manufactures and supplies CNC machines and has a strong presence in India. The market is already hyped about the Jyoti CNC Automation IPO, and we'll take a closer look at the company's price band, lot size, and book-built issue.

Jyoti CNC Automation IPO

The Jyoti CNC public issue has been subscribed to 3.2 times as of January 10, the second day of bidding. In total, 5.7 crore shares have been bid for, while the issue size is 1.75 crore shares. Retail investors have been the most active, subscribing 10.16 times the allotted quota. High net-worth individuals (HNI) have purchased 5.2 times, and qualified institutional buyers have bought 0.02 times the portion set aside for them.

Key Facilitators

The following companies are helping make the Jyoti CNC Automation IPO possible with book-running lead managers, with Equirus Capital Private Limited, ICICI Securities Limited, and SBI Capital Markets Limited. The registrar is Link Intime India Private Ltd

Objectives of the IPO

The company plans to use the money raised from the IPO for the following purposes:

  • Repaying or paying off some of the loans the company has taken.
  • Funding the company's long-term working capital needs for general business purposes.

More to come

Apart from that, the new year rings in with promise, as three other IPOs are set to lure in investors.

IBL Finance IPO

IBL Finance will launch its initial public offering (IPO) in the small and medium cap segment (NSE SME) from January 9 to January 1, 2024. They plan to raise ₹33.4 crore by issuing new shares, and the share price is fixed at ₹51. The company is expected to list its shares on the stock exchange on January 16, 2024.

New Swan Multitech IPO

New Swan Multitech is the third company to launch its initial public offering (IPO) this week. The IPO will open on January 11, 2024, and close on January 15, 2024. They plan to raise ₹33.11 crore by issuing new shares, and the price range is fixed at ₹62-66 per share. The IPO is entirely fresh, and the current grey market premium is at ₹35.

Australian Premium Solar IPO

Australian Premium Solar will launch its initial public offering (IPO) on the BSE SME from January 11 to 15, 2024. They hope to raise ₹28 crore by issuing new shares, with a price range of ₹51-54 per share. The current grey market premium of the IPO is ₹10. Additionally, this is the company's first appearance on BSE SME.

Only one listing this week

Kaushalya Logistics listed its shares this week; on Monday, January 8, 2024, they will be on the NSE.

‘Four IPOs may seem like a mere appetizer, but 2024 seems like a three-course IPO banquet. So, will you be dining as a guest for the main course or just be observing the ongoing listings?’

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