(Photo : BT )
Sensex, Nifty Surge

• Despite equity market downturn, the Indian IPO market is active with nine IPOs worth Rs 10,985 crore opening for retail investors from October 21 to Waaree Energies, a solar photovoltaic module manufacturing company, will be the first IPO to open for subscription on October Other companies like Deepak Builders, Godavari Biorefineries, and Afcons Infrastructure will also open their IPOs for subscription.
• The upcoming week will also see the listing of Hyundai Motor India, the country's biggest-ever IPO of Rs 27,870 crore.

Despite the recent downturn in the Indian equity market, the Initial Public Offering (IPO) market is abuzz with activity. The upcoming week, from October 21 to 25, is set to witness nine IPOs worth Rs 10,985 crore opening for retail investors. This period will also see the listing of three public issues, including that of Hyundai Motor.

Waaree Energies, a solar photovoltaic module manufacturing company, is set to be the first IPO to open for subscription on October 21. The company has set a price band of Rs 1,427-1,503 per share for its Rs 4,321 crore public issue. This issue includes a fresh issue of Rs 3,600 crore and an offer-for-sale (OFS) of 48 lakh shares worth Rs 721.44 crore. The IPO will close on October 23.

The company's main competitors include listed companies such as Premier Energies and Websol Energy. Before the IPO, Waaree Energies raised Rs 1,277 crore from anchor investors on October 18. The company's promoters, Waaree Sustainable Finance and Chandurkar Investment, will participate in the OFS.

Upcoming IPOs and Their Details

Deepak Builders and Engineers India is another company whose IPO subscription will open for retail investors between October 21 and October 23. The size of this IPO will be Rs 260 crore, including a fresh issue of Rs 217 crore and OFS of Rs 42.83 crore. Before the IPO, the company raised Rs 78 crore from five anchor investors.

The IPO of Godavari Biorefineries will open from October 23-25. The company plans to raise Rs 555 crore through this IPO, which will see a fresh issue worth Rs 325 crore and an offer for sale of 65.26 lakh shares worth Rs 229.75 crore by promoters and investor Mandala Capital AG. Its price band has been fixed from Rs 334 to Rs 352 per share.

The IPO of Afcons Infrastructure, owned by Shapoorji Pallonji Group, will also open for subscription on October 25. The price band for the Rs 5,430 crore IPO will be announced on October 21. The infrastructure and engineering construction company aims to raise Rs 1,250 crore through fresh issue and Rs 4,180 crore through offer-for-sale.

SME Segment and Hyundai Motor India Listing

In the SME segment, Premium Plast, Danish Power, United Heat Transfer, OBSC Perfection and Usha Financial Services will open for subscription to retail investors next week. The listing of Hyundai Motor India, the country's biggest-ever IPO of Rs 27,870 crore, is scheduled for listing on October 22. Apart from this, in the SME segment, shares of Lakshya Powertech and Freshra Agro Exports will start trading on October 23 and 24, respectively.

The upcoming week promises to be an exciting one for the Indian IPO market. Despite the recent fall in the equity market, the strong buzz around new listings and public issues indicates a robust appetite among investors for new offerings. This trend is not new, as the Indian IPO market has historically shown resilience in the face of market volatility.

The upcoming listings will provide retail investors with a variety of options to diversify their portfolios and participate in the growth stories of these companies. The IPO market's resilience in the face of equity market volatility is a testament to the strength and potential of the Indian economy.