Three IPOs to hit the market next week

Two IPOs will open for subscription on Monday. (iStock)

Three companies will launch Initial Public Offering (IPO) Value Rs 3,160 crore is expected next week, with liquidity in the equity market and rapid growth in new retail investors.

India’s stocks jumped more than 50% from their lows in March when the government imposed the world’s toughest lockouts to include Kovid-19. The rally has witnessed a tight end this year with three major IPOs ending a long period of dry primary markets.

“There is a flash of IPOs from mid-sized firms to take advantage of market prosperity conditions and significant growth in retail participation. Gaurav Dua, senior vice-president and head of capital market strategy and investments at Sharekhan by BNP Paribas, said the more important thing is the willingness to pay premium value with different business models and a reputable management team.

Two IPOs will open for subscription on Monday: Computer Computer Age Management Services (CAMS) and Camcan Specialty Chemicals Ltd, followed by Angel Broking on Tuesday.

The CAMS IPO on the price band will open for subscription on September 21-23 1,229-1,230 per share. The existing shareholder NSE Investment Limited is trying to sell its entire stake through an offer which will be received. 2,242 crore at the top of the band.

With price band 338-340 per share, Chamcon’s share sale will be open for subscription during September 21-23. The aim of the specialty chemical company is to uplift 318 crore at the top of the band.

Riding on the tremendous wave of retail investors, Angel Broking wants to grow as much as 600 crore through its three-day IPO which will close on September 24. The price band is set 305-306

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The huge listed profits seen in all stock market listings over the past few months have attracted investors, resulting in huge IPOs.

Shares of Happyest Minds Technology Ltd. doubled from their start on Thursday. The stock rose 138% against its issue price on the first day. The The Rs 702 crore IPO was subscribed 151 times last week. The The 600 crore issue of Root Mobile, which was subscribed 73 times, will be listed on Monday.

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Seth Grace

About the author: Seth Grace

Seth Sale is an all-around geek who loves learning new stuff every day. With a background in Journalism and a passion for web-based technologies and Gadgets, she focuses on writing about on Hot Topics, Web Trends, Smartphones, and Tablets.

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