Tripura News Point

IPO Update: Five Public Offerings Are Anticipated in January 2024

<p>Even though there were more initial public offers (IPOs) in the last few months of 2023, primary market activity is predicted to continue, with up to five IPOs anticipated in January 2024.</p>
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<p><strong>IPO for Jyoti CNC Automation</strong></p>
<p>Public subscriptions for the IPO will begin on January 9 and run until January 11. The mainboard IPO’s price range is set at Rs 315–Rs 331 per share. An application must have a minimum lot size of 45 shares. Retail investors are needed to invest a minimum of Rs 14,895.</p>
<p><strong>IPO for Medi Assist Healthcare</strong></p>
<p>It is anticipated that the IPO would begin in the second week of January. This 2.8 crore share book-built issuance is only an offer to sell 2.8 crore shares.</p>
<p><strong>IPO for Mukka Proteins</strong></p>
<p>In November of last year, the markets regulator Sebi approved the Mukka Proteins initial public offering. It will probably be released later this month. This is a completely new 8 crore share offering.</p>
<p><strong>IPO for SPC Life Sciences</strong></p>
<p>At the end of the month, pharmaceutical ingredients manufacturer SPC Life Sciences includes is anticipated to launch its initial public offering. There is a new equity offering of Rs 300 crore together with an 89.39 lakh share selling offer.</p>
<p><strong>Allied Blenders Initial Public Offering</strong></p>
<p>This month, the IPO is anticipated to open for public subscription. The IPO would include an OFS up to Rs 1,000 crore from the promoters in addition to a new issue of Rs 1,000 crore.</p>
<p>Managing director of Pantomath Capital Advisors Mahavir Lunawat commented on the IPO market, saying, “CY2023 turned out to be an eventful year for the Indian primary market.” Despite some turbulence at the beginning of the year, a recovery in secondary market confidence led to an increase in fund-raising activities starting in Q2CY23. The market is anticipated to pick up more steam as more businesses are lining up to raise a combined total of at least Rs 1 lakh crore, more than twice as much as was raised in 2023.</p>
<p>He continued by saying that up to 28 businesses have already gotten the go-ahead from SEBI for their initial public offerings (IPOs), which are expected to raise more than Rs 30,000 crore. In the meanwhile, Sebi has received draft red herring prospectuses (DRHPs) from 36 more businesses for approval. These businesses want to raise a total of Rs 50,000 crore.</p>