InvestorQ : Can you tell me about the 3 major IPOs that are expected to open in the coming week starting on 07th November 2022?
Katherine Gonsalves made post

Can you tell me about the 3 major IPOs that are expected to open in the coming week starting on 07th November 2022?

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rhea Babu answered.
4 weeks ago
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In the current week ended 04th November, a total of 4 IPOs opened viz. DCX Systems, Fusion Microfinance, Bikaji Foods International and Global Health (Medanta Hospitals). Out of these, DCX Systems and Fusion Microfinance closed their IPOs in this week, while Bikaji Foods and Global Health (Medanta Hospitals) will close on Monday next week. The next week is a shortened week due to the trading holiday on 08th November. Despite that there are going to be 3 IPOs opening in the coming week.

Here is a quick look at the 3 IPOs opening next week with relevant details about the same.

1) The Rs1,960 crore IPO of Five Star Business Finance will open on 09th November and close for subscription on 11th of November with price band of Rs450 to Rs474. Five Star Business Finance is a non-deposit taking systemically important NBFC (NBFC-ND-SI). Its prime focus is to provide secured business finance to micro-entrepreneurs and self-employed persons. It current operates through a rather formidable network of 311 branches across 8 Indian states and located in over 150 districts, with a dominant focus on South India. Its AUM stands at Rs3,000 crore and loan book at over Rs25,000 core.

The 100% OFS will be lead managed by ICICI Securities, Edelweiss Financial Services, Kotak Mahindra Capital and Nomura Financial Advisory. KFIN Technologies Limited (formerly Karvy Computershare Ltd) will be the registrars to the issue.

2) The Rs1,462.31 crore IPO of Archean Chemical Industries will open on 09th November and close for subscription on 11th of November with price band of Rs386 to Rs407. Archean Chemical Industries Limited is India's largest exporter of bromine and industrial salts, apart from being India’s leading speciality marine chemical manufacturer and sulphate of potash. Archean caters to a total of total of 24 domestic institutional customers and 18 global customer across 13 countries. Its facilities are close to its salt sources in the Rann of Kutch.

Archean IPO will comprise of fresh issue of Rs805 crore and OFS of Rs657.31 crore. Lead managers are IIFL Securities, ICICI Securities and JM Financial while Link Intime Private Limited is the registrar to the issue.

3) The Rs857.82 crore IPO of Kaynes Technology Ltd will open on 10th November and close for subscription on 14th of November in price band of Rs559 to Rs587. Kaynes specializes in the Internet of Things (IOT) solutions-enabled integrated electronics manufacturing space. It caters to automobiles, aerospace, defence and railways. Kaynes has 8 manufacturing facilities and caters to 229 clients across 21 countries.

Kaynes will do a Rs530 crore fresh issue and an offer for sale of Rs327.82 crore. Lead managers are IIFL Securities and DAM Capital Advisors (formerly IDFC Securities) while the registrar to the issue is Link Intime India.

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