The primary market is poised for another action-packed week, with 11 main-board companies, including Rentomojo, Karamtara Engineering and Kanohar Electricals, set to raise Rs 7,055 crore through initial public offerings (IPOs).
The IPOs are scheduled to hit the market between September 7 and September 15, with most of the issues opening for subscription on Tuesday and Wednesday.
"This multi-issue rush reflects an eagerness to lock in early-stage growth equity in young companies as all these companies are below $1 billion market cap at listing," Rajkumar Rathi, Chief Investment Officer at YES Securities, said.
The companies tapping the primary market include real estate developers, engineering and manufacturing firms, a payments and identity solutions provider, a specialty chemicals manufacturer and an online rental platform.
Of Rs 7,055 crore, Rs 2,722 crore (39%) is primary capital issuance, where funds go into the company, and Rs 4,333 crore (61%) is a secondary sale by existing shareholders.
