Five IPOs to hit Indian market this week

The companies are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors.

New Delhi: Riding on the upbeat market sentiment, as many as five companies are set to come out with initial public offers this week to raise an estimated Rs 3,764 crore. The companies are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors.

Craftsman Automation and Laxmi Organics Industries will launch their initial share-sale programmes on Monday while that of Kalyan Jewellers India will open on Tuesday. IPOs of Suryoday Small Finance Bank and Nazara Technologies will begin on Wednesday, information with the exchanges showed. Shares of these companies will be listed on BSE and NSE.

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Besides, the initial public offering (IPO) Anupam Rasayan is currently underway. Apart from these, nine companies have already floated their initial share-sales so far. Automaker Craftsman Automation’s Rs 824-crore IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale (OFS) of up to 45,21,450 shares by promoter and existing shareholders.

Those offloading shares in the offer-for-sale are Srinivasan Ravi, K Gomatheswaran, Marina III (Singapore) Pte Ltd and International Finance Corporation (IFC). The issue, with a price band of Rs 1,488-1,490 a share, will open on March 15 and close on March 17.

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