IPOs next week: 2 public issues worth ₹1,975 crore set to hit primary markets
IPO next week: Ahead of ushering in new year 2023, two initial public offerings (IPOs) proposed for listing on BSE and NSE are going to hit primary markets next week. Two IPOs that are going to open next week are Elin Electronics Ltd and KFin Technologies. Both companies together aims to raise ₹1,975 crore from its public offer. KFin Technologies IPO will open on 19th December 2022 i.e. on Monday next week whereas subscription for Elin Electronics IPO will open on 20th December 2022 i.e. on Tuesday.
Here we list out full details in regard to these two upcoming IPOs:
KFintech IPO: Subscription for the the public issue worth ₹1500 crore is going to open on 19th December 2022 and it will remain open for bidding till 21st December 2022. The technology-driven financial services company has fixed KFintech IPO price band at ₹347 to ₹366 per equity share. The book build issue is completely OFS (offer for sale) in nature, which means net proceeds of the IPO won’t have much impact on company’s balance sheet except change in shareholding of the promoters post-listing. The public issue is expected to list on 29th December 2022 whereas its allotment date is most likely on 26th December 2022.
Elin Electronics IPO: The public issue worth ₹475 crore is going to open on 20th December 2022 i.e. on Tuesday next week and it will remain open till 22nd December 2022. So, Elin Electronics IPO subscription date is from 20th to 22nd December 2022. The promoters of the company aims to raise ₹475 crore from this public offer out of which ₹175 crore is expected from issuance of fresh shares. Rest ₹300 crore is reserved for OFS (offer for sale). So, ₹175 crore of the net proceeds will go to the company’s account. The public issue is proposed for listing on BSE and NSE and expected listing date of the public issue is 30th December 2022.
In 2022, 83 public issues have been listed on BSE out of which 33 belong to the main board whereas rest 50 have been listed on BSE SME segment. As per the information available on BSE, out of these 83 listed IPOs, 63 IPOs had a positive listing while rest 20 listed at discounted price. After listing of these 83 IPOs, shares of 68 listed companies are trading above their issue price while rest 15 are available below its issue price.
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