Three IPOs Hit the Market: iValue Opens to Lukewarm Response, Two More Set to Launch
The Indian primary market is seeing three IPOs this week. iValue InfoSolutions' ₹392 crore IPO opened with a tepid response, subscribed only 0.02 times as of 10:15 AM on the first day. Saatvik Green Energy's ₹900 crore IPO and GK Energy's ₹464 crore IPO are set to open on September 20. Saatvik aims to use funds for debt repayment and facility expansion, while GK Energy reduced its fresh issue size after securing ₹100 crore in pre-IPO funding. All three IPOs are expected to close by September 23, with potential listings around September 26.
*this image is generated using AI for illustrative purposes only.
The Indian primary market is buzzing with activity as three Initial Public Offerings (IPOs) make their debut this week. iValue InfoSolutions has already opened its subscription, while Saatvik Green Energy and GK Energy are set to launch their IPOs tomorrow.
iValue InfoSolutions: A Slow Start
iValue InfoSolutions, an IT solutions provider, opened its ₹392.00 crore IPO today with a price band of ₹284-299 per share. However, the initial response has been tepid. As of 10:15 AM on the opening day, the IPO recorded a subscription of only 0.02 times, indicating minimal interest from both retail and institutional investors.
Upcoming IPOs: Saatvik Green Energy and GK Energy
Saatvik Green Energy
| Aspect | Details |
|---|---|
| Issue Size | ₹900.00 crore |
| Price Band | ₹442-465 per share |
| Purpose | Debt repayment and facility expansion |
| Subscription Period | September 20 - September 23 |
Saatvik Green Energy, a player in the renewable energy sector, is set to open its IPO tomorrow. The company aims to utilize the funds for debt repayment and expansion of its facilities.
GK Energy
| Aspect | Details |
|---|---|
| Issue Size | ₹464.00 crore |
| Price Band | ₹145-153 per share |
| Subscription Period | September 20 - September 23 |
| Notable | Reduced fresh issue size following ₹100.00 crore pre-IPO funding |
GK Energy, another entrant in the energy sector, will also launch its IPO tomorrow. The company has already secured ₹100.00 crore through pre-IPO funding, which led to a reduction in its fresh issue size.
Key Dates
- iValue InfoSolutions: Closes on September 22
- Saatvik Green Energy: Opens on September 20, closes on September 23
- GK Energy: Opens on September 20, closes on September 23
Investors can expect the listings of these companies on the stock exchanges around September 26, subject to the usual regulatory processes.
The diverse range of sectors represented by these IPOs - IT solutions and energy - offers investors a variety of options to consider. However, the lukewarm response to iValue InfoSolutions' offering on its opening day underscores the importance of careful evaluation and market sentiment in IPO investments.
As always, potential investors are advised to thoroughly research the fundamentals of these companies and consider their risk appetite before making investment decisions.
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