Plethora of IPOs to choose from
Currently, 3 IPOs are open for subscription and investors are opening up their wallet for these companies.
IPO market is buzzing at the onset of Diwali and it seems investors are depicting their appetite. Recently Cello World got listed at a premium of 28%. Currently, 3 IPOs are open for subscription and investors are opening up their wallet for these companies. Let’s start with the IPO that has opened today.
ASK Automotive
It is a company that manufactures advanced braking systems for 2-wheelers. The company has a diverse product range spanning from AB systems to wheel assembly for 2-wheelers. The company also has an international presence. IPO will remain open from 7th to 9th November. The price band is from Rs 268 to Rs 282 per share, the company is looking to raise Rs 834 crore from IPO but all of it will be offer for sale. By the time of writing this story the IPO got subscribed 15%. The company is enjoying premium of Rs40 per share in grey market.
ESAF Small Finance Bank
As the name suggests this is a small finance bank with business operations across the country but a major presence in the South. The company focuses on a digital business model, it has a strong understanding of the customers which help with assessing their credibility. Still if the economy falters then people at bottom of pyramid will get impacted which is customer base for company. Today is last day for subscription and by the time of writing this story the IPO was subscribed 17.18times. The company has GMP of Rs 19 per share. The company is looking to raise Rs 463 crore from IPO at a price band of Rs 57 to Rs 60 per share.
Protean eGov Technologies
This is the company that is at forefront of digitization. It plays pivotal role in establishing digital public infrastructure. The company has worked in 19 projects across 7 ministries. Company is involved with PAN issuance, Aadhar, National Pension Scheme as well as ONDC. The IPO will remain open from 6th to 8th November. The price band of the IPO is Rs 752 to Rs 792 per share. The company is looking to raise Rs 490.33 crore from IPO and all of it is offer for sale. The IPO will remain open from 6th to 8th November. By the time of writing this story the IPO got subscribed 1.86 times.
Published: November 7, 2023, 16:10 IST