Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank are set to launch their maiden public issues, collectively aiming to raise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will kick off its initial share sale on February 9, aiming to raise Rs 1,600 crore. Meanwhile, the IPO of, valued at Rs 920 crore, is currently under subscription.
Last month, five firms tapped into the primary market and raised approximately Rs 3,266 crore. Market experts maintain an optimistic outlook on the IPO market for 2024, fueled by robust investments, both domestic and foreign. Neha Agarwal, MD and Head of Equity Capital Markets at JM Financial, expressed confidence in the IPO market's prospects, citing strong investments and the resolution of uncertainties related to elections.
Rashi Peripherals, a distributor of information and communications technology products, will offer fresh equity shares worth Rs 600 crore in its IPO, with no offer-for-sale component. The price band is set at Rs 295-311 per share, with proceeds earmarked for debt repayment and working capital.
Jana Small Finance Bank, backed by private equity giants TPG and Morgan Stanley, will offer primary shares worth Rs 462 crore and an offer-for-sale worth Rs 108 crore. The bank aims to raise Rs 570 crore, with a price band of Rs 393-414 per share, to enhance its capital base.
Capital Small Finance Bank's IPO, valued at Rs 523 crore, comprises a fresh issue of Rs 450 crore and an offer-for-sale of Rs 73 crore. Priced at Rs 445-468 per share, the Jalandhar-based bank plans to bolster its Tier-I capital base to meet future capital requirements.
These IPOs will conclude on February 9. In 2023, 58 maiden public issues raised Rs 52,637 crore, including the Rs 3,200-crore IPO of Nexus Select Trust REIT. Despite the lower fund mobilisation compared to 2022, primarily due to the absence of a large IPO like LIC's Rs 20,557-crore issue, market sentiment remains buoyant.
(With PTI inputs)
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