The Indian IPO market has been quite active in November 2024, with several companies launching their initial public offerings (IPOs). These IPOs offer valuable investment opportunities in different sectors such as glass manufacturing, steel, water management, and biodiesel production. The four prominent IPOs this month are Agarwal Toughened Glass India Limited, Abha Power and Steel Limited, Apex Ecotech Limited, and Rajputana Biodiesel Limited. Let's dive into each of these IPOs and understand their key features, subscription status, and investment details.

Agarwal Toughened Glass India Limited IPO

Agarwal Toughened Glass, a leader in the glass manufacturing industry, has launched its book-built IPO with an issue size of ₹62.63 Crores. The IPO consists entirely of a fresh issue of 57.99 lakh shares. The subscription period for this IPO is from November 28 to December 2, 2024, with a price band of ₹105 to ₹108 per share.

The company plans to use the proceeds to repay loans, purchase machinery, and fund working capital needs. The company has set a lot size of 1,200 shares, requiring an investment of ₹1,29,600 for retail investors. High-Net-Worth Individuals (HNIs) can invest a minimum of ₹2,59,200 (2 lots). The market capitalization at the upper price band is estimated at ₹190.88 Crores.

• GMP (Grey Market Premium): ₹0 (Indicating no significant grey market movement)
• Subscription Status: The IPO opened on November 28 and is seeing strong interest. As of now, the IPO has been oversubscribed by retail investors, and the demand continues to grow.

Objectives of the IPO:

The funds raised from the issue will be allocated as follows:

1. ₹966.81 Lakhs for purchasing machinery at the company's existing manufacturing unit.
2. ₹600.00 Lakhs for the repayment of borrowings.
3. ₹2,500.00 Lakhs to meet incremental working capital requirements.
4. Remaining funds will be used for general corporate expenses.

The allotment of shares will be finalized on December 3, 2024, and the listing date for the shares is December 5, 2024. Investors can check their allotment status on the registrar’s website.

Abha Power and Steel Limited IPO

Abha Power and Steel, a company providing services to industries like Indian Railways, cement, mining, and power, has launched a fixed-price IPO worth ₹38.54 Crores. The price per share is fixed at ₹75.

The subscription period for this IPO is from November 27 to November 29, 2024. The IPO has a market capitalization of ₹100.86 Crores. The lot size for the retail investors is 1,600 shares, with a minimum investment of ₹1,20,000. HNIs must invest ₹2,40,000 (2 lots).

• GMP (Grey Market Premium): ₹0
• Subscription Status: The IPO is witnessing a steady demand, but as of now, the subscription numbers indicate moderate interest.

Objectives of the IPO:

The company intends to utilize the proceeds as follows:

1. ₹1,638.93 Lakhs for modernizing and upgrading the manufacturing facilities located in Bilaspur, Chhattisgarh.
2. ₹300.00 Lakhs for working capital requirements.
3. ₹745.06 Lakhs for general corporate purposes.

The allotment will be finalized on December 2, 2024, and the listing date is December 4, 2024.

Apex Ecotech Limited IPO

Apex Ecotech, a prominent player in the field of water and wastewater management solutions, has launched its book-built IPO with an issue size of ₹25.54 Crores. The price band for the IPO is ₹71 to ₹73 per share.

The lot size is 1,600 shares, requiring a minimum investment of ₹1,16,800 for retail investors. HNIs must invest ₹2,33,600 (2 lots). As of now, the IPO has been oversubscribed 21.72 times (as of day two).

• GMP (Grey Market Premium): ₹15 (Indicating a premium of around 20%)
• Subscription Status: The IPO is witnessing strong demand, especially from retail investors, which has resulted in the high subscription numbers.

Objectives of the IPO:

The company intends to use the funds raised for the following purposes:

1. ₹1,700 Lakhs for working capital requirements.
2. Remaining funds will be used for general corporate purposes.

The allotment will be finalized on December 2, 2024, and the listing date is set for December 4, 2024.

Rajputana Biodiesel Limited IPO

Rajputana Biodiesel, a leading manufacturer of biofuels and glycerine, has launched its book-built IPO for ₹24.70 Crores. The price range is between ₹123 to ₹130 per share, and the subscription period is from November 26 to November 28, 2024.

The market capitalization of the company at the upper price band is ₹91.44 Crores. The lot size is 1,000 shares, with a minimum investment of ₹1,30,000 for retail investors and ₹2,60,000 (2 lots) for HNIs.

• GMP (Grey Market Premium): ₹30 (Indicating a 23% premium)
• Subscription Status: The IPO has been well-received, with strong demand from retail and institutional investors.

Objectives of the IPO:

The company intends to utilize the funds raised for the following purposes:

1. ₹420 Lakhs for loan to subsidiary Nirvaanraj Energy Pvt. Ltd. to support its expansion plans.
2. ₹1,220 Lakhs for working capital needs.
3. Remaining funds will be used for general corporate purposes.

The allotment will be finalized on November 29, 2024, and the listing date is set for December 3, 2024.

The Upcoming IPOs in this week and coming weeks are Ganesh Infraworld, Suraksha Diagnostic, Property Share REIT, Rosmerta Digital, Avanse Financial and Nisus Finance.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.
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