Published By: Business Desk
Last Updated: August 01, 2023, 14:16 IST
An Initial Public Offering (IPO) is the first sale of shares to the public by a privately owned company.
IPO Update: Here’s a list of companies that you can watch out for this week.
The financial world is gearing up for this week’s potential market upheaval. Investors are eyeing five upcoming Initial Public Offerings (IPOs) set for a launch, offering a diverse range of products and services. An IPO is the process of offering shares of a private company to the public for the first time, allowing the ventures to raise equity capital from investors in the market. If you have also been looking to invest your money in IPOs, here’s a list of companies that you can watch out for this week.
1) Small Business Fin Credit (SBFC) Finance:
Non-banking lender SBFC Finance’s IPO is scheduled to open on August 3 and close on August 7. The issue has a price band of Rs 54-57 per share, and investors can bid for a minimum of 260 shares and in multiples thereafter. The IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer for sale of Rs 425 crore with a face value of Rs 10 per equity share.Shares of SBFC Finance are trading at a grey market premium (GMP) of Rs 40 on August 1.
2) Concord Biotech:
The Indian biotechnology company’s IPO will open for subscription on August 4 and can be subscribed to until August 8. The price band for Concord Biotech IPO is set between Rs 705 to 741 per equity share of face value Rs 1 each. The lot size for the IPO is 20 equity shares, and investors can bid in multiples of 20 equity shares thereafter. Shares of Concord Biotech are trading at a GMP of Rs 260.
3) Oriana Power:
A solar energy solutions provider, Oriana Power, opened for public subscription on August 1 and will conclude on August 3. Investors may bid for 1,200 shares in one lot as the company is offering its shares for sale in a price range of Rs 115-118 per share. The company’s shares are trading at a GMP of Rs 100.
4) Vinsys IT:
Vinsys IT Services Limited opened for subscribers and will remain open for bidders until August 4. The IT services provider is offering a price band of Rs 121 and 128 each. Shares of Vinsys IT Services are currently available at a premium of Rs 70 per share in the grey market, indicating a positive sentiment for the IPO.
5) Yudiz Solution:
Yudiz Solutions’ IPO will open on August 4 and close on August 8. The tech company, focused onblockchain, AI and gaming,aims to raise Rs 44.84 crores through the IPO. The price band for the public issue is fixed at Rs 162 to 165 with a market lot of 800 shares. Yudiz Solution’s shares are trading at a GMP of Rs 30.
