Two IPOs to Open this Week, One IPO to List
For the IPO markets it is likely to be a busy week ahead. There are the two IPOs of Star Health & Allied Insurance and Tega Industries that will open for subscription during the week.
In addition, there will also be an IPO listing, with the Go Fashions listing on the NSE and the BSE on Tuesday, 30th November.
The IPO of Star Health & Allied Insurance will open for subscription on 30th November and close on 02nd December. Star Health is India’s largest player in the specialized health insurance space with a market share of 15.8%.
The Star Health IPO is expected to list on the bourses on 10-December. A quick word on the pricing of the Star Health IPO.
Two New IPOs to open this week
Star Health will raise a total sum of Rs.2,000 crore by way of fresh issue and Rs.5,249 crore by way of offer for sale, taking the total size of the issue to Rs.7,249 crore. The IPO has been priced in the range of Rs.870 to Rs.900 and the minimum lot size for investing in the IPO is 16 shares.
The IPO has a 75% allocation to QIBs and a 10% allocation to retail investors. Star Health will have an indicative market cap of Rs.51,806 crore at the upper end of the band.
The other Tega Industries IPO will open for subscription on 01st December and close on 03rd December. Tega Industries is the world’s second largest manufacturer of polymer based mill liners and caters predominantly to the mining and abrasives sector.
It operates 6 plants with 3 plants located abroad and nearly 86.4% of its revenues coming from global operations. The IPO of Tega Industries will list on the bourses on 13-December.
Tega Industries will raise a total sum of Rs.619.23 crore by way of offer for sale and that will also be the total size of the issue. The IPO has been priced in the range of Rs.443 to Rs.453 and the minimum lot size for investing in the IPO is 33 shares.
The IPO has a 50% allocation to QIBs and a 35% allocation to retail investors. Tega Industries will have an indicative market cap of Rs.3,003 crore at the upper end of the band.
One IPO listing this week
The Go Fashion IPO, which closed on 22nd November will list on Tuesday, 30th November. The IPO of Go Fashions, a popular retail brand in women’s bottom-wear, was priced at the upper end of the price band of Rs.690 per share after the IPO was subscribed 135.41 times with strong oversubscription from HNIs and QIBs.
The GMP of Go Fashion is hovering in the range of Rs.500 to Rs.520, promising a listing premium of 75.4% and indicative listing price of Rs.1,210 per share. These are just informal indicative prices.
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