In the latest stock market news, 3 IPOs, including Paradeep Phosphates, Ethos, and eMudhra, will hit the primary market next week (mid-May 2022). Last week LIC IPO was subscribed up to 2,85 times trading at Rs 929. These firms are looking to replicate the same success and plan to raise upwards of Rs 2387 crore (Cr) from the market.
Top IPOs to hit NSE India next week
On the NSE website, you can see live how stocks and other assets are traded on the market. According to the information given by NSE India online, Pardeep phosphate will open its IPO on May 17, 2022. In contrast, Ethos and E-Mudra will go to the market on the 18th and 20th, respectively.
Note! All the latest stock market news is available in the “Market Watch” live section of the website.
Paradeep Phosphates Limited
Paradeep phosphate’s IPO will open eyeing to raise 1501 Cr and will remain active till 19th May. The price is fixed at Rs 42 per share and investors looking to subscribe will have to go for a lot size of 350 shares. The IPO allotment date will be the 24th of May and post the IPO, the current paid-up equity capital of Rs 575,45 Cr will stand enhanced to Rs 814,50 Cr. Eyeing the upper Cap of share price, the company is looking to achieve a market cap of Rs 3420 Cr.
Pardeep phosphate is the 2nd and 3rd largest producer of Non-Urea fertilizers and Di-Ammonium Phosphate (DAP) in India respectively. The company has a proven track record and impeccable financial results.
Ethos subscription is poised to remain open from May 18 till May 20, 2022. The company is looking to raise 472 Cr at an issue price of Rs 836 to 878 per share. For those who wish to subscribe, a lot will comprise 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or Rs 194,038).
The listing will be available on both NSE and BSE. The tentative date of allotment of shares is May 25.
Ethos is now one of India’s largest luxury and premium watch retail players having a 13% share of the total retail sales in the premium and luxury segment and a share of 20% when seen in the exclusive luxury segment. The company will use the funds sourced towards Repayment/ Pre-payment of all borrowings, funding working capital requirements of the Company, financing the capital expenditure for establishing new stores, financing renovation of certain existing stores and up-gradation of enterprise resource planning software.
eMuhdra IPO subscription will begin on May 20 and will be available till May 24, 2022. It is looking to raise a total of 472 Cr from the market at a base price of Rs 243 to 256 per share. Interested bidders will have to buy in lots of 58 shares, and the tentative allotment date is 27th May. eMudhra is one of the largest “Certifying Authority” in India. The company’s business is divided into two sectors: Digital Trust Services and Enterprise Solutions.
It provides services like individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, and IT policy assessment, etc.
What awaits NSE India investors?
There are plenty more IPOs coming up in the next few weeks, including Prudent corporation, Venus Pipes and Delhivery corporation. This means a lot more action and opportunities for investors in the market. But despite the latest news from the stock market, caution is essential when subscribing to an IPO. It must include deep research of the company, looking into its background, and buying at the right valuation.