Major IPOs to Watch Out for Next Week

The Indian primary market is gearing up for a busy week ahead with some major initial public offerings (IPOs) lined up, including the mega issue of Hyundai Motor India. Here’s a look at the key IPOs to watch out for next week.

Hyundai Motor India IPO

The much-anticipated IPO of Hyundai Motor India is set to launch on October 15. Valued at Rs 27,870 crore, it will be the largest IPO in India after LIC.

• The price band is Rs 1,865-1,960 per share for the offer-for-sale.
• The issue closes on October 17.
• Anchor book of Rs 8,315 crore will open on October 14.
• The IPO is entirely an offer-for-sale by parent Hyundai Motor Company.
• The market cap is expected around Rs 1.6 lakh crore.

The premium auto brand enjoys strong brand recall and a wide dealership network. However, high valuations and inventory concerns could limit upside.

Shri Venkatesh Refineries IPO

Shri Venkatesh Refineries’ IPO opens on October 16 to raise Rs 50 crore.

• The price band is Rs 171-180 per share for the book-built issue.
• It is entirely a fresh issue of shares by the company.
• The IPO closes on October 18. Listing is on October 23.

The company is into edible oil refining and offers value-added products. The IPO proceeds will fund expansion plans.

Freshara Agro Exports IPO

The IPO of Freshara Agro Exports, a processor and exporter of pickled vegetables, opens on October 17.

• The price band is fixed at Rs 110-116 per share for the Rs 75.4 crore issue.
• It is a complete fresh issue of equity shares.
• The IPO closes on October 21. Listing is on October 24.

The company exports pickles across geographies and looks to expand capacity. The IPO is priced attractively. The primary market momentum continues with more IPOs in pipeline. Investors should assess valuations and growth prospects before participating.