Upcoming IPO : The IPO market of the country is going to increase once again. There are going to be 2 IPOs launch this week which will be around Rs 3,000 crore.
Two IPOs are going to hit the market this week, these are the first IPOs to come in the new financial year. Their total size is around Rs 3,000 crore. Whereas the other special thing is that this week a new update can also come regarding the launch date of the country’s biggest means the LIC IPO.
Campus IPO will be worth 1,400 crores
Campus Activewear is going to open first this week. The of this company, which makes footwear and active sportswear, will open on 26 April. It will be of Rs 1,400.14 crore in size. For the, the company has fixed an issue price of Rs 278-292 for each share having a face value of Rs 5. This will be purely an Offer for Sale (OFS). The promoters and existing shareholders of the company will sell 4.79 crore shares. This will close on 28th April. The company’s shares will be list on May 9.
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Rainbow Medicare IPO to open on 27th
Another one is coming up this week for Rainbow Children’s Medicare. It will open on 27th April and will close on 29th April. Whereas its listing in the stock market is to be done on 10 May. For this worth Rs 1,595.59 crore, the company has kept the price band per share at Rs 516-542. In this, the company will issue new shares worth Rs 280 crore. Rainbow Children’s Medicare runs a chain of multi-specialty hospitals for children since 1999. Presently the company has 14 hospitals and 3 city clinics in 6 cities of the country.
LIC IPO details will also come
This week is very important for LIC’s IPO. Because SEBI has given the company time till May 12 to bring. In such a situation, if the company has to bring its, then it will have to decide on the rest of the dates from its launch date this week.
If the process related to this does not go ahead, then the company will have to get a fresh permission from the market regulator. The government wanted to bring LIC’s before the financial year ended March 31. But due to the Russo-Ukraine war, the government had to postpone it.
The government can reduce the size of LIC to Rs 30,000 crore. The government will raise this amount through the sale of a five per cent stake in the country’s largest insurance company. This is exactly half of the earlier estimate. The news agency Reuters has given this report quoting sources.
Even if the government reduces the size of the to half from the earlier estimate, it will still be India’s biggest public offering. Earlier in November last year, digital payment company Paytm had an IPO of Rs 18,300 crore (Paytm IPO Size).