3 IPOs to hit D-street today to raise Rs 6,635 crore: All you need to know
Policybazaar IPO: Three IPOs, including much-awaited Policybazaar, will open for subscription on Monday. Other two issues are Sigachi Industries and SJS Enterprises.
The primary market has been buzzing with Initial Public Offers (IPOs). Two IPOs—Nykaa and Fino Payments Bank — opened last week within a gap of a day, while three are lined up for the next week. Three IPOs, including much-awaited Policybazaar, will open for subscription on Monday. Other two issues are Sigachi Industries and SJS Enterprises. This is also the day when the three-day Nykaa IPO will close.
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https://www.zeebiz.com/market-news/news-policybazaar-ipo-to-open-on-nove...2 SJS Enterprises Ltd key details and timeline:
Issue size: Rs800 crore
Price band: Rs531 to Rs542
Minimum quantity: 27
Application start date: November 1, 2021
Application end date: November 3, 2021
Allotment beginning date: November 10, 2021
Refund initiation date: November 11, 2021
Share allotment date: November 12, 2021
Listing date: November 15, 2021
*Details as per Upstox
SJS Enterprises IPO Purpose:
SJS Enterprises is planning to offer liquidity to the selling shareholders with Rs800 crore IPO
Also Read: https://www.zeebiz.com/market-news/news-sjs-enterprises-ipo-to-open-on-n...
3. Sigachi Industries Ltd Key Details and Timeline:
Issue size: Rs125 crore
Price band: Rs161 to Rs163
Minimum quantity: 90
Application start date: November 1, 2021
Application end date: November 3, 2021
Allotment beginning date: November 10, 2021
Refund initiation date: November 11, 2021
Share allotment date: November 12, 2021
Listing date: November 15, 2021
*Details as per Upstox
Sigachi Industries Purpose For Raising Money:
One of the largest manufacturers of Microcrystalline Cellulose (MCC) in India, Sigachi Industries will use the proceeds from the IPO for expansion of production facilities at its two plants at Dahej and Jhagadia in Gujarat. The company will also use money to manufacture croscarmellose Sodium at Kurnool in Andhra Pradesh, besides for geral corporate purposes.
Also Read: https://www.zeebiz.com/market-news/news-sigachi-industries-ipo-to-open-i...
Meanwhile, as IPO frenzy have caught retail investors' attention, Nikhil Kamath, Co-founder, True Beacon and Zerodha, had recently warned them not to just make their decisions based on media hype. Kamath had said one should not blindly believe in the media hype and should do a thorough research before applying for an IPO. “As an investor, don’t believe the media hype, you need to study the company and its journey before investing in an IPO. Plenty of IPOs start out at high levels and fizzle out later," Nikhil had said.
Also Read: https://www.zeebiz.com/market-news/news-fino-payments-bank-ipo-apply-onl...
Zerodha Broking Limited Founder and Chief Executive Officer (CEO) Nithin Kamath had earlier said that IPOs have played crucial role in attracting investors under 30 years to the stock market of late. "They have an added advantage of being young and less to invest. Unlike the previous bull runs, most of the new investors starting especially because of IPOs this time are under 30 years. The good thing is that they are younger and have less to invest. Meaning they can learn hands-on and bounce back quicker if money mistakes are made," he had said in a tweet.
Also Read: https://www.zeebiz.com/market-news/news-ipo-frenzy-pulling-most-new-inve...
Over 60 companies have hit the stock market and have been listed on the National Stock Exchange alone between November 9, 2020 and October 25, 2021, while at least, six IPOs will be listed on bourse this year alone.
(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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