As the season for initial public offerings (IPOs) heats up, at least 25 companies that have already received approval from market regulator SEBI intend to go public in the next few weeks with the goal of raising roughly Rs 22,000 crore, according to analysts on Friday.
They claimed that despite fluctuations in international stock markets, the Indian primary market is still strong.
According to Pantomath Capital Advisors, four firms successfully completed initial public offerings (IPOs) totaling more than Rs 11,850 crore in the first week of August.
In the midst of geopolitical unrest and uncertainties in the world economy, India’s IPO success story is beginning to take shape. A number of variables, such as economic growth, the regulatory environment, and worldwide market patterns, will determine whether the nation can maintain its momentum in the face of global challenges, the analysts pointed out.
On Friday, Ola Electric Mobility’s shares saw a surge and were trapped in the top 20% range at Rs 133.08, a new high. The current valuation of Ola Electric is Rs 58,664 crore. Ola Electric is trading 75% higher following the recent rise compared to its August 9 issue price of Rs 76 per share.
FirstCry’s parent company, Brainbees Solutions, listed its stock at Rs 651, which is 40% more than the IPO price of Rs 465. While it began trading at a premium of more than 34% on the BSE at Rs 625.
In the meantime, the Indian market is temporarily consolidating in a small range. Regarding economic indicators, the WPI declined in July due to low food costs and primary items.
Market observers claim that the fact that SIP contributions reached an all-time high of Rs 23,331.75 crores in July compared to Rs 21,262 crores in June is indicative of ordinary investors’ increasing financial discipline and ability to accumulate wealth gradually.
An inflow this strong would be beneficial for the Indian equity markets in the long run. Around $674.9 billion was India’s foreign exchange reserve as of the first week of August.
