Around seven companies are likely to hit capital market through IPO within the next two months. Driven by improved investor sentiments and new line of Millennial investors, capital market is expected to raise over Rs 7,000 crores through IPO's.
Companies looking to raise funds through IPO from varied sectors including IT, Financial Services, Pharma etc. IT technology service provider - Happiest Minds Technologies, Share broking firm - Angel Broking, India's largest Mutual Fund Transfer Agency - CAMS Limited, Manufacturer & exporter of pharmaceutical intermediates - Chemcon Speciality Chemicals, Cloud Communication Platform provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO) - Route Mobile, Mutual fund investment company UTI AMC which is managing UTI Mutual fund and B2B Pharma API & Formulation manufacturer Gland Pharma are among the companies likely to come up with IPO.
| Company Name | Open Date | Close Date |
|---|---|---|
| Happiest Minds Technologies | 7-Sep-2020 | 9-Sep-2020 |
| Route Mobile Ltd. | 9-Sep-2020 | 11-Sep-2020 |
| Angel Broking Ltd. | TBA | TBA |
| Computer Age Management Services Ltd. (CAMS) | TBA | TBA |
| Chemcon Specialty Chemicals Ltd. | TBA | TBA |
| UTI Asset Management Company Ltd. | TBA | TBA |
| Gland Pharma Ltd. | TBA | TBA |
*TBA: To be Announced
Earlier in Jul'20, Rossari Biotech, a specialty chemicals manufacturing, saw strong demand for its IPO. The Rs. 496 crore issue was subscribed 79.37 times and the stock listed at a premium of 57% over its offer price on July 4. With this bumper listing, several companies are rushing to raise funds now through IPO route.
Since Jan'20 three out of five companies made debut in the bourses - SBI Cards, Rossari Biotech and Yes Bank - FPO. Two companies withdrew their fund raising plans which included Waste management company Antony waste handling cell ltd and Govt owned telecommunication equipment manufacturer ITI Ltd-FPO. During CY19, 16 companies made debut in the bourses including highly subscribed IRCTC as compared to 25 companies in CY18.
Number of companies going for IPO is contracting on yearly basis given the weak investor sentiments. Would these companies give a breather to dried primary capital market... only time will tell..
Untill then, wait and watch on IPO dates and subscription of these IPO's.
Happy Investing!!
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