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IPO bonanza worth more than Rs 5,300 cr in June

June might be the best month for IPO mobilisation since September 2016

BS Reporter  |  Mumbai 

IPO

Five initial public offerings (IPO) worth more than Rs 5,300 crore will hit the market this month, giving investors a choice to invest in wide-ranging sectors including pharmaceutical, broadband and finance. If all the five issues go through successfully then June will be the best month for mobilisation since September 2016. 

Tejas Networks, a data networking products company, saw its issue subscribed over 10% on Wednesday, first day of the issue. Pharmaceutical company Eris Lifesciences’ will open on Thursday, where its existing shareholders will sell shares worth over Rs 1,700 crore. Central Depository Services (CDSL), a company that facilitates holding of securities in electronic format, launches its offering early next week. 

Cable and broadband company GTPL Hathway’s IPO, which have a mix of fresh and secondary equity component, will open June 21. Small Finance Bank license holder Au Financiers’ is also expected to hit the market before the end of this month. 

Investment bankers expect the momentum in the market to continue as investor sentiment towards primary market continues to remain healthy.

IPOs in June Issue size (Rs cr) Issue date Sector
Tejas Networks 777 June 14 to June 16 Networking products 
Eris LifeSciences 1,741 June 16 to June 20 Pharmaceutical 
CDSL 524 June 19 to June 21 Stock market infrastructure
GTPL Hathway 485 June 21 to June 23 Cable and broadband
AU Financiers* 1,800 June 28 to June 30 NBFC
Total 5,327  
 

IPOs in recent months No. of issues Amt raised (Rs cr)  
September-16 4 7,443  
October-16 3 5,274  
November-16 1 510  
December-16 1 1,331  
January-17 1 1,243  
February-17 0 0  
March-17 4 2,942  
April-17 1 729  
May-17 2 1,421  
June-17 5 5,327  
       
Source: Company announcements, Prime Database; *Announcement pending

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