Upcoming IPOs: Two new IPOs to open for subscription, six listings scheduled; check full list

The primary markets in India have witnessed some major growth in 2024, with over a hundred initial public offerings (IPOs) being floated on the bourses this year alone. The second week of October is also going to be action-packed, with two IPOs opening for subscriptions. Meanwhile, six IPOs will make their market debut next week.

Garuda Construction and Engineering IPO

The initial share sale of construction company Garuda Construction and Engineering Limited will open for subscription on Tuesday, October 8. The issue will close on Thursday, October 10. Garuda Construction and Engineering aims to raise ₹264.10 crore through the offer, consisting of a fresh issue of 1.83 crore shares worth ₹173.85 crore and an offer for sale of 95 lakh shares worth ₹90.25 crore.

Garuda Construction and Engineering IPO price band has been fixed at ₹92 to ₹95 per share. Retail investors can apply for the IPO with a minimum lot size of 157 shares, totalling an investment of ₹14,915 at the upper price band.

The share allotment for Garuda Construction and Engineering IPO will be finalised on Friday, October 11. The construction company's shares will be listed on the BSE and NSE, tentatively on October 15.

Garuda Construction and Engineering aims to use the funds from the issue to meet working capital requirements and for general corporate purposes. A portion of the money raised via the IPO will also be used to fund unidentified inorganic acquisitions.

Shiv Texchem Limited IPO

The subscription window for BSE SME IPO Shiv Texchem Limited will be open between Tuesday, October 8 and Thursday, October 10. The company is aiming to raise ₹101.35 crore via its public offer consisting entirely of a fresh issue of 61.06 lakh shares.

Shiv Texchem IPO price band has been fixed at ₹158 to ₹166 per share. A retail investor has to apply for a minimum of 800 shares in a lot. This will take the minimum investment to ₹1,32,800.

Shiv Texchem Limited plans to use the proceeds from the IPO to meet long-term working capital requirements and for general corporate purposes.

Six IPOs scheduled for listing next week

Shares of HVAX Technologies Limited are set to list on the NSE SME platform Emerge on Monday, October 7. The IPO open for subscription, from September 27 to October 1, was booked over 34.25 times. The public issue raised ₹33.53 crore from investors.

Saj Hotels Limited IPO was booked over 5.4 times during the bidding window from September 27 to October 1. The public issue raised ₹27.63 crore from the market. Shares of Saj Hotels will be listed on the NSE SME platform on Monday, October 7.

Shares of Subam Papers Limited will be listed on the BSE SME on October 8. The ₹93.70 crore IPO was booked over 92.9 times at the closure of the bidding window on October 3.

Paramount Dye Tec Limited shares are also set to list on October 8. The public offer, open for subscription between September 30 and October 3, was booked over 50 times driven by strong demand from non-institutional investors.

On October 9, shares of NeoPolitan Pizza and Foods will be listed on the BSE SME. The ₹12 crore IPO consisted entirely of a fresh issue of 60 lakh shares offered at a fixed price of ₹20 apiece.

Shares of Khyati Global Ventures Limited will be listed on the NSE SME platform Emerge on October 11. The Khyati Global Ventures IPO, worth ₹18.30 crore, will remain open for bidding between October 4 and October 8.

Key IPOs likely to open in October

Hyundai Motor India IPO is likely to open on October 14. Last month, the passenger vehicle maker received the approval of the market regulator, the Securities and Exchange Board of India (SEBI), to float an IPO. The Hyundai Motor India IPO is expected to be the largest public offer ever in India, with plans to reportedly raise ₹25,000 crore. The proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares.

Mumbai-based Afcons Infrastructure Limited has also received SEBI's approval to raise funds via the public offer of shares. According to the IPO draft papers, the infrastructure engineering and construction arm of Shapoorji Pallonji group has proposed to raise ₹7,000 crore from the market.

The proposed IPO consists of a fresh issuance of shares worth ₹1,250 crore and an offer for sale (OFS) component of ₹5,750 crore by a promoter Goswami Infratech Private Ltd. The IPO price band and dates have yet to be announced. The Afcons Infrastructure IPO is expected to open this month.

Another big public issue coming to the primary markets is Swiggy's IPO. The company operating a food delivery platform recently filed its updated draft IPO papers with SEBI. The offer size could reportedly go over ₹11,000 crore. However, the dates for the public offer have not been announced yet.