India s economic resilience and its attractiveness as an investment hub are causing a strong influx of IPOs, with a strong pipeline of over $9 billion expected in H2 2024.
Next week, Protean eGov Technologies and ASK Automotive are planning to raise a cumulative Rs 1,324 crore through their public offers. Two IPOs in the SME segment Rox Hi-Tech and Sunrest Lifescience will also open for subscription next week.
Mumbai-based Cello World s IPO will open for subscription on October 30. The company has set a price band of Rs 617-648 per share. Honasa Consumer, which operates Mamaearth, has fixed a price band of Rs 308-324 per share for its IPO, which opens on October 31. At the upper end of the band, the company is valued at Rs 10,425 crore.
The IPO pipeline of small finance, microfinance and non-banking finance companies worth over ₹6,500 crore is bigger than the amounts raised by them annually in the past five years. At least eight such lenders have filed their draft documents for an IPO with the Securities and Exchange Board of India.
"The remarkable volume of IPOs in India, covering a diverse range of sectors and industries, showcases the country s economic resilience and its attractiveness as an investment hub," said Mahavir Lunawat, MD, Pantomath Capital Advisors.