IPO craze continues as three firms set to raise Rs 1,325 crore next week

The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively.

The other two companies which are set to launch their maiden public issues are — RK Swamy and JG Chemicals.

Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers.

Market experts attributed the bustling IPO activity to various factors, including impressive post-listing returns from recent public offerings and the robust macroeconomic conditions.

So far this year, 16 companies launched their IPOs to mobilise Rs 13,000 crore, while Rs 224-crore initial share-sale of Mukka Proteins is slated to conclude on March 4.

This came after 58 maiden public issues initiated in 2023 to garner Rs 52,637 crore. This included the Rs 3,200-crore IPO of Nexus Select Trust REIT.

Market experts said that March is anticipated to usher in a wave of IPOs, offering a plethora of opportunities for exploration and investment.

Rajkot-based Gopal Snacks’ Rs 650-crore public issue is entirely an offer for sale (OFS). The issue, with a price band of Rs 381 to Rs 401 per share, will open for subscription during March 6-11.

The OFS comprises the sale of shares by Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts Private Ltd and Harsh Sureshkumar Shah.