if you If you are thinking of making big money by investing in IPO, the waiting time is over. Next week you are going to have an opportunity to invest in multiple company IPOs. This is because the IPO of Gandhar Oil Refinery India, FedBank Financial Services, Indian Renewable Energy Development Agency (IREDA) and Tata Technologies are scheduled to open next week. The IPO of a Tata group company is coming after a long time. There is already a lot of buzz in the market about this IPO.
IPO of Gandhar Oil Refinery India Limited
The Gandhar Oil Refinery India IPO will open on Tuesday, November 21 and close on November 23. Anchor investors will be able to invest in the IPO on November 20. The price band of the Gandhar Oil Refinery IPO is still awaited. The IPO involves a fresh issue of shares of up to ₹357 crore. The net proceeds from the new issue have been earmarked for various purposes, as disclosed in the Draft Red Herring Prospectus (DRHP). These include investing in TEXOL through loans to facilitate repayment or prepayment of the loan facility obtained from Bank of Baroda. Additionally, funds will be allocated for capital expenditures, which will include the purchase of equipment and civil works required to expand the automotive oil capacity at the Silvassa plant.
Tata Technologies IPO
Tata Technologies’ IPO will open for investment on Wednesday, November 22 and close on November 24. As of now, the Tata Technologies IPO price band is eagerly awaited. Tata Technologies Ltd has submitted its red herring prospectus (RHP) to the Registrar of Companies, Maharashtra, Pune, on November 13, according to an exchange filing by Tata Motors. According to market experts, a share of Tata Technologies Ltd is available at a premium of Rs 340 in the gray market on Friday. This IPO is coming at a time when the market mood is bullish. 50% of the company’s IPO is earmarked for Qualified Institutional Buyers (QIB). In addition, 35% share is reserved for retail investors and remaining 15% share is reserved for non-institutional investors (NII).
Indian Renewable Energy Development Agency; IPO
The IREDA IPO has set its price band at ₹30 to ₹32 per equity share priced at ₹10. Subscription to the IPO will open on Tuesday, November 21 and close on November 23. Allotment to anchor investors for Indian renewable energy IPO is scheduled for Monday, November 20. The floor price is set at three times the face value. The price/earnings ratio, based on diluted EPS for FY23, is 7.94x for floor price and 8.47x for cap price. The lot size for IREDA IPO is 460 equity shares.
IPO of Fedbank Financial Services Ltd
FedBank Financial Services Limited’s IPO will open on Wednesday, November 22 and close on November 24. Reports indicate that the allotment to anchor investors for the FedBank IPO is scheduled for Tuesday, November 21. Pricing details including the price band are still awaited. The FedFina IPO, a subsidiary of Federal Bank, will bid for equity shares worth up to ₹750 crore. Federal Bank, as a promoter shareholder, may sell up to 16,497,973 equity shares. Federal Bank subsidiary FedFina filed a draft red herring prospectus (DRHP) for the IPO last year.
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