Four IPOs: We all want to invest secure in view of fluctuating situation of share markets. Companies try to gamble on domestic equities markets with their more stable environment. This week five major initial public offerings(IPOs) are expected to begin. Five Star Business Finance, Archean Chemical Industries, Kaynes Technology India, and Inox Green Energy are among the stocks whose initial public offerings are expected to begin this week, Here are details:
- Five Star Business Finance: Five Star Business Finance, a non-banking financial company, is planning an initial public offering (IPO) in order to raise Rs 1,960 crore. The non-banking lender provides small business and modest mortgage loans to qualified clients for their personal and business requirements.
Five Star Business Finance has a large presence in southern India, with the states of Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka accounting for 85% of the company’s total portfolio.
2. Archean Chemical Industries: Archean Chemical Industries Limited’s initial public offering (IPO) will go public on Wednesday. It will be available to subscribers until Friday. The chemical company hopes to generate Rs 1,462.31 crore through its first public offering. A total of Rs657.31 crore has been reserved through the offer for sale (OFS) mechanism.
3. Kaynes Technology India: Kaynes Technology India, a design-led electronics manufacturing business, also announced on Thursday that it will conduct its initial public offering (IPO). The price range for each share has been set at Rs 559-587. The IPO consists of a fresh issue of Rs 530 crore in shares and a sale of 55.84 lakh shares. The funding will be Rs 857.8 crore at the highest pricing bracket. The deadline for submissions is November 14. On Wednesday, the anchor book will be open for a day before the issue is released.
4. Inox Green Energy: Inox Green Energy Services will begin its initial public offering on Friday and will close on November 15. The profits from the new offer, according to the energy firm, would be used to repay debts and for general corporate reasons.
The company plans to publish the price range for the deal early next week. On November 10, the anchor book will be open for a day. Inox Green Energy Services is a subsidiary of Inox Wind (a wind turbine generator manufacturer) and a member of the Inox GFL group of enterprises.