While the market has remained volatile in the first week of 2024, it is expected that it will gain some stability in this week due to the launch of four new initial public offerings (IPO), including expected mutlibagger Jyoti CNC Automation IPO.
Four new IPOs will hit the Dalal Street this week, with Jyoti CNC’s issue set to steal the spotlight with the biggest IPO of the week. The total amount of funds raised by these companies will be upwards of ₹1100 crore.
Four IPOs this week
Jyoti CNC Automation IPO
Jyoti CNC Automation will launch its IPO on the stock market from January 9 to 11, 2024. The company is looking to raise ₹1000 crore through the issue and the price band is ₹315-331 per share. The current GMP of the company is ₹77, and the IPO is entirely of fresh issue.
IBL Finance IPO
IBL Finance will be launching its IPO in the small and medium cap segment (NSE SME) from January 9 to January 11. The issue is aimed at raising ₹33.4 crore through an entirely fresh issue IPO, with share price fixed at ₹51. The listing date is likely to be January 16.
New Swan Multitech IPO
New Swan Mutlitech is the third IPO to open this week, set to be launched on January 11 and close on January 15. The issue is planning to raise ₹33.11 crore, with the price band fixed at ₹62-66 per share. The IPO is made up entirely of fresh issue, and its current grey market premium is ₹35.
Australian Premium Solar IPO
Australian Premium Solar will be making its debut on the BSE SME, and the issue dates are January 11 to 15, 2024. The IPO is aimed at raising ₹28 crore through fresh issue, with the shares priced at ₹51-54 apiece. The current GMP of the IPO is ₹10.
Only one listing this week
While four IPOs are being launched this week on Dalal Street, there is one one listing scheduled for this week. The shares of company Kaushalya Logistics will be listed on the NSE Emerge on January 8, Monday.
The shares of the company were priced at ₹75 during the IPO, and looking at the current GMP, it will be listed at a whopping 60 percent premium, at ₹120. The Kaushalya Logistics IPO was launched to raise ₹36.6 crore, and was subscribed 364.18 times.