Five Companies Aim to Raise Rs 7,400 Crore, ET BFSI

Mumbai: In one of the busiest weeks for IPOs in years, Dalal Street will see five maiden public offerings, which aim to mobilise nearly Rs 7,400 crore.

With the Rs 3,043-crore offer, Tata Technologies will be the biggest. The other four are: Indian Renewable Energy Development Agency (IREDA), Flair Writing, Gandhar Oil Refinery and Fedbank Financial. While the IREDA issue closes on November 23, the other four are set to close the next day.

On Wednesday, the Tata Tech IPO was subscribed within a couple of hours of opening, and closed the day with a 6.6 times oversubscription. This is the first such offering for a Tata Group company in nearly 20 years and there’s strong interest from all categories of investors for it, market players said.

According to Prashanth Tapse, senior VP (research), Mehta Equities, the Tata Tech IPO is high in demand among all kinds of investors due to its legacy and business performance. It also received a huge response from anchor investors, including from global investors like Goldman Sachs, BNP Paribas, Prudential Assurance Company and HSBC Global.

“We like the company’s diverse product portfolio across different product categories from traditional OEMs (original equipment manufacturers) to new age energy vehicles…,” he wrote in a note to clients.

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IREDA, Tata Technologies, Fedbank Financial, Gandhar Oil, and Flair Writing IPOs: How to navigate the offersIREDA, Tata Technologies, Fedbank Financial, Gandhar Oil, and Flair Writing are all set to launch their IPOs this week. To apply for an IPO, you need a demat account with a depository participant. There are two ways to apply: through your broker’s website or by asking the broker to bid on your behalf. You can authorize the transaction using UPI or ASBA. All IPOs are open for application for three days, and it’s important to submit your application before 5 pm on the last day. Retail investors are advised to apply for only one lot. Each investor is allowed only one application per PAN. The bid or cut-off price is the maximum price an investor is willing to pay. The lot size is the minimum number of shares an investor can apply for, and applications must be made in multiples of the lot size. Before applying, conduct thorough research and review the DRHP. To check if you have been allotted shares, check the registrar’s website or wait for an email and SMS notification.

Fedbank Financial Services raises Rs 325 crore from anchor investors ahead of IPOFedbank Financial Services, a subsidiary of Federal Bank, has raised Rs 325 crore from anchor investors ahead of its IPO. The company has allotted equity shares to 22 funds at Rs 140 per share. Investors include Goldman Sachs, Citigroup, and various insurance companies. The IPO, with a price band of Rs 133-140 per share, will be open from November 22 for three days. The proceeds will be used to augment the company’s capital base and meet future capital requirements. ICICI Securities, BNP Paribas, Equirus Capital, and JM Financial are the lead managers.

Tata Tech, IREDA, Flair Writing IPOs among 5 to launch this week: Should you subscribe? Heres what analysts sayFive companies in India are set to launch IPOs worth over Rs 7,000 crore in the upcoming week. Analysts advise investors to consider subscribing to these IPOs, especially Tata Technologies and IREDA. The influx of IPOs is not expected to impact liquidity in the main markets. Tata Technologies IPO is valued at Rs 3,042 crore with a price band of Rs 475-500, while IREDA has an IPO size of Rs 2,150 crore and a price band of Rs 30-32. The Gandhar Oil Refinery, Flair Writing Industries, and Fedbank Financial Services are also offering IPOs.