The IPO street is again becoming active following the budget, which has succeeded in sending the right signals to the markets, overcoming apprehensions that under constraints from coalition partners the Modi 3.0 government might lean too sharply towards populism and emphasise less on fiscal prudence.
First EV auto company in IPO street
August is kicking off with the much-awaited Ola Electric IPO. This week will end with this IPO opening for applications on Friday, August 2. According to reports, it could open on Thursday, August 1 for anchor investors.
The price band is Rs 72-76 for an equity share. The minimum subscription is for 195 shares.
The company had about 35% of India’s electric two-wheeler market in FY24. It will become the first EV startup company to roll out an IPO in this country.
Ola Electric is headquartered in Bengaluru and is supported by Softbank, the Japanese venture funding giant which is also the largest technology-based venture funding agency.
The IPO proceeds will fund capital expenditure, R&D and retiring past loans. Bajaj Auto, TVS Motors, Ather Energy are competitors of Ola Electric.
Clinitech Laboratory IPO
Tuesday, August 30 is the last date for applying for the IPO of Clinitech Laboratory which opened for subscription on July 25. It is selling an equity share at Rs 96 and wishes to raise a little more than Rs 5.78 crore. One can apply for a minimum of 1,200 shares.
S A Tech Software India IPO
Another ongoing IPO that will also close on July 30 is that of S A Tech Software India which opened on July 26. It is a SME.
The company has announced a price band of Rs 56-59 for each equity share. The company desires to mop up Rs 23.01 crore from the IPO.
Akums Drugs and Pharmaceuticals IPO
A third company has its IPO going on is Akums Drugs and Pharmaceuticals. The IPO opened for subscription on July 30 and is set to conclude on Thursday, August 1.
The price band of this company has been fixed between Rs 646 and Rs 679 per share. The face value of these is Rs 2.
The pharma firm will issue more than 2.78 crore shares through the book building process.
Akums Drugs has reserved 10% of the shares for retail investors.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
The equity markets in India are caught in the grip of a seemingly endless bull run. Many companies are taking advantage of the buoyant markets to mop up capital through IPOs. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
