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19 Nov 2024
The IPO season is heating up, with at least 25 companies approved by SEBI preparing to hit the market in the coming weeks to raise around Rs 22,000 crore, analysts reported on Friday.
Despite global market fluctuations, India’s primary market remains strong.
During the first week of August, four companies launched IPOs totaling over Rs 11,850 crore, all of which were successful, as reported by Pantomath Capital Advisors.
Analysts have highlighted that India’s IPO success is emerging despite global economic instability and geopolitical tensions. The country's ability to maintain this momentum will hinge on various factors such as economic growth, regulatory conditions, and global market developments.
Ola Electric Mobility’s shares surged, hitting a new high at Rs 133.08, locked in the upper circuit of 20 percent on Friday. The company’s valuation now stands at Rs 58,664 crore. With this surge, Ola Electric is trading 75 percent above its issue price of Rs 76 per share as of August 9.
Brainbees Solutions, the parent company of FirstCry, saw its stock list at Rs 651, a 40 percent premium over its IPO price of Rs 465. On the BSE, it started trading at Rs 625, reflecting a premium of over 34 percent.
Meanwhile, the Indian market is experiencing short-term consolidation within a narrow range. In terms of economic data, the Wholesale Price Index (WPI) for July eased, driven by lower food prices and primary articles.
Market observers noted that SIP contributions reached an all-time high of Rs 23,331.75 crore in July, up from Rs 21,262 crore in June. This indicates growing financial discipline among retail investors, enabling them to systematically build wealth over time.
Such robust inflows are seen as a long-term positive for Indian equity markets. As of the first week of August, India's forex reserves stood at approximately $674.9 billion.
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