As companies try to bet on domestic equity markets with its more stable conditions, Five Star Business Finance, Archean Chemical Industries, Kaynes Technology India, and Inox Green Energy are among the stocks whose initial public offerings are set to open next week.
Non-banking financial company Five Star Business Finance is set to go for an initial public offering (IPO) as the NBFC intends to raise Rs 1,960 crore through the IPO.
The non-banking lender offers small business and small mortgage loans to eligible borrowers for their business and personal needs. Five Star Business Finance has a strong presence in southern India, with Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka accounting for 85 per cent of the company’s overall portfolio
The initial public offering (IPO) of Archean Chemical Industries Limited is going to hit primary markets on Wednesday. It will remain open for subscribers till Friday. The chemical company aims to raise Rs 1,462.31 crore from its public offer. An amount of Rs657.31 crore is reserved via the offer for sale (OFS) route.
Kaynes Technology India, a design-led electronics manufacturing company, also said that it decided to launch its initial public offering (IPO) on Thursday. The price band has been fixed at Rs 559-587 per share. The IPO comprises a fresh issue of shares worth Rs 530 crore, and an offer-for-sale of 55.84 lakh shares. At the upper price band, the fundraising would be Rs 857.8 crore. The issue will close on November 14. The anchor book will be opened for a day on Wednesday, a day before the issue opens.
Inox Green Energy Services is going to launch its initial public offering on Friday and the public offer will close on November 15. The energy company said proceeds from the fresh issue would be utilized by the company for repaying debts and general corporate purposes.
The price band for the offer will be announced by the company in the early part of next week. The anchor book will open for a day on November 10. Inox Green Energy Services is a subsidiary of Inox Wind (the manufacturer of wind turbine generators) and part of the Inox GFL group of companies.