If you’re considering subscriptions, which ones are worth exploring? Read the article to get an overview of each IPOs.
On November 22, Tata Technologies, Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery are set to launch their IPOs. The closing date for all these IPOs is November 24. Let’s explore the specifics of each and evaluate whether investors should consider subscribing to these issues.
Tata Technologies IPO:
Tata Technologies’ Rs 3,042.51 crore public offer includes a 15% offer-for-sale of 6.08 crore shares, without any fresh issue.
The company won’t raise funds; all proceeds go to selling shareholders as there’s no fresh issue in the offering.
The issue’s price band is Rs 475-500 per share, resulting in an upper valuation of Rs 20,283 crore. A positive outlook stems from promising business prospects, strong parentage, and favorable financials with improved margins and ratios.
Fedbank Financial Services IPO:
The NBFC aims to raise Rs 1,092.26 crore through its public offering. Priced at Rs 133-140 per share, the issue includes a fresh issuance of 4.29 crore shares (Rs 600.77 crore) and an offer-for-sale of 3.51 crore shares (Rs 492.26 crore at the upper price band).
Proponents suggest considering the subscription, emphasizing the reasonable valuation and the NBFC’s achievement of the third fastest AUM growth among peers in India. Nirmal Bang gives it a ‘Neutral’ rating, concerned about the NBFC’s lower 2.3% Return on Assets (ROA) in FY23 versus the 3.4% peer average.
Flair Writing Industries IPO:
IPO valued at Rs 593 crore, includes a fresh issue of 96.05 lakh shares (Rs 292 crore) and offer-for-sale of 99.01 lakh shares (Rs 301 crore).
Investors can participate in the IPO within the price range of Rs 288 to Rs 304 per share.
Gandhar Oil Refinery IPO:
The manufacturer of white oil aims to generate Rs 500.69 crore through its public offering.
It includes a fresh issue of 1.78 crore shares (Rs 302 crore) and an offer-for-sale of 1.17 crore shares (Rs 198.69 crore). The specified price band for the issue is set at Rs 160-169 per share.
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