2023-10-29 18:40:00
Kochi: India’s initial public offering (IPO) is going strong even as financial markets around the world are going through a major setback. Six companies are gearing up for new initial share sales this week in conjunction with Diwali, which is seen as an auspicious time for the stock market. Together they aim to raise Rs 3734 crore from the market. Cello World, MamaEarth, Transsteel Technologies, Vrindavan Plantations, Mish Designs, S. A. R Televentures and Baba Food Processing are the I this week. P. Preparing for O.
Brokers say the initial share sale will be a tough challenge for the companies, which will take place at a time when crises such as political problems in the West and the appreciation of the dollar are intensifying. Cello World, a consumer products company, is planning to raise 1900 crores through share sale. I. P. O will start today. 1701 crores will be raised through Mama Earth’s share sale starting tomorrow. The initial share sale of four companies was launched last week.
Thirty percent of the country’s small and medium-sized companies are preparing to raise capital through initial share sales, considering the three-year rally in the stock market. Financial experts say startups and even decades-old companies are tapping into the potential of the stock market.
During the first ten months of the current year, more than 100 companies have raised capital from the market through initial share sales. Brokers say the company has raised over Rs 1 lakh crore from the market in three years. As the country’s stock market has overcome all the adverse conditions in the global and domestic sectors, the excitement in the IPO sector is also increasing.
Companies Sale Price (per share) I.P.O Start Date of
Cello World Rs 617-648 October 30
Mama Earth Rs 308-324 Oct 31
Transsteel Tech 67-70 November 1
Vrindavan Plantation Rs 108 Oct 30
Mish Designs Rs 122 Oct 31
SAR Tele Rs 52-55 Nov 4
Baba Food Rs 72-76 November 3
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