IPO calendar: Waaree Energies among the eight IPOs that will keep the primary market active next week

the high profile IPO from Waaree Energies along with two more motherboard issues from Deepak Builders and Godavari Biorefineries will keep the primary market active next week. In addition to the above, 5 SME companies will also launch their emissions.

Additionally, Street will see listings for Hyundai India and 2 others IPO next week.

The IPO pipeline for H2 looks promising as 26 companies proposing to raise Rs 72,000 crore have Sebi approval.

Another 55 companies seeking to raise around Rs 89,000 crore are awaiting approval from the regulator. According to PRIME Database Group’s Haldea, barring a black swan event, it is likely to be a record year for IPOs.

Here’s what we can expect:

Afternoon Energy IPO

Waaree Energies’ initial public offering will open for subscription on October 21 and investors can bid for the issue until October 23. The IPO price ranges between Rs 1,427 and Rs 1,503 each.

Most analysts expect the company to go public on multiple exchanges if current demand holds up.

The company proposes to use the funds raised from the IPO for key initiatives, including the establishment of a 6 gigawatt (GW) manufacturing facility for ingots, wafers, solar cells and photovoltaic modules in Odisha, as well as to support general corporate purposes.

Waaree Energies is India’s largest solar PV module manufacturer with the largest aggregate installed capacity of 12 GW, as of June 2024. For FY2024, the company had the second best operating income among all domestic solar module manufacturers photovoltaics of India.

Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the lead managers of the issue.

Deepak Builders IPO

The initial public offering (IPO) of engineering and construction company Deepak Builders and Engineers will open for subscription on October 21 and close on October 23. The company has set a price band of Rs 192 to Rs 203 each.

The IPO is a combination of a fresh sale of shares of 217 crore and an offer for sale (OFS) of 21 lakh shares.

Around 50% of the offering is reserved for qualified institutional buyers, 35% for retail investors and the other 15% for non-institutional investors. Investors can bid for 73 shares in one lot and subsequently in multiples.

The IPO funds to the tune of Rs 95 crore will be utilized to meet the working capital requirements of the company and Rs 30 crore will be utilized for debt repayment; Additionally, a portion will be used for general corporate purposes, according to the drafts. presented last week.

Deepak Builders is an integrated engineering and construction company, specializing in the execution and construction of administrative and institutional buildings, hospitals and medical colleges, industrial buildings, historical memorial complexes, stadiums and sports complexes, and residential complexes.

Godavari Biorefineries IPO

Godavari Biorefineries has announced a price band of Rs 334-352 per share for its Rs 555-crore initial public offering (IPO), which will open for subscription on October 23.

The IPO will close on October 25 and the anchor offering will begin on October 22. Allotment will close on October 28 and share redemptions and credits will take place on October 29, followed by share pricing on October 30.

The IPO includes a fresh issue worth Rs 325 crore and an offer for sale (OFS) of up to 6.53 million shares by existing shareholders and promoters.

The proceeds from the new issue will be used to repay Rs 240 crore of debt and the rest will be used for general corporate purposes. As of June 2024, Godavari Biorefineries had consolidated debt of Rs 748.9 crore.

The IPO is managed by Equirus Capital and SBI Capital Markets, with Link Intime India as the registrar.

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