New Delhi: As the season for initial public offerings (IPOs) heats up, at least 25 companies that have already received approval from market regulator SEBI intend to go public in the next few weeks to raise roughly Rs 22,000 crore, according to analysts on Friday.
They claimed that despite the turbulence in international stock markets, the Indian primary market stands strong, a testament to its resilience and stability.
According to Pantomath Capital Advisors, four firms completed IPOs totalling more than Rs 11,850 crore in the first week of August.
“India’s IPO success story is taking shape amid global economic uncertainty and geopolitical tensions. Whether the country can keep up this momentum amidst the global challenges will depend on several factors, including economic growth, the regulatory landscape, and global market trends,” the analysts noted.
Ola Electric Mobility shares rallied and were locked in the upper circuit of 20 percent at Rs 133.08 on Friday, its new high. Ola Electric is now valued at Rs 58,664 crore. With the fresh rally, Ola Electric is trading 75 percent higher against its issue price of Rs 76 per share on August 9.
Brainbees Solutions, the parent company of FirstCry, listed at Rs 651 against the IPO price of Rs 465, a 40 percent premium. On the BSE, it started trading at Rs 625, a 34 percent premium.
Meanwhile, the Indian market is consolidating in a narrow range for the short term. On the economic data front, the July WPI cooled due to low food prices and primary articles.
Market watchers note that the all-time high SIP contributions of Rs 23,331.75 crores in July, up from Rs 21,262 crore in June, reflect a positive trend of growing financial discipline among retail investors. This trend is expected to systematically build wealth over time, bringing optimism for the future of Indian equity markets.
The strong inflow, a long-term positive for Indian equity markets, is a promising sign for the future. India’s forex reserve stood at around $674.9 billion in the first week of August, further bolstering this hope.
–IANS
