Rs 24,600 crore IPO dhamaka: NSE, Hero Motors to lead 11 public offers next week
NSE will be the biggest issue of the week, with an IPO size of Rs 22,562 crore. Hero Motors will follow with a Rs 1,000 crore issue. The two IPOs will dominate investor attention, while the remaining mainboard and SME issues will compete for retail and HNI money during the same period.
India's primary market is gearing up for a major IPO week, with 11 public offerings totaling Rs 24,574 crore. The week's spotlight will be on two large issues from the National Stock Exchange (NSE) and Hero Motors, each raising over Rs 23,500 crore. NSE's IPO, the market's biggest, will be priced at Rs 1,700-1,785 per share and close on September 21.
Hero Motors will follow on September 16, offering a share price range of Rs 79-84. Grey market trends suggest strong early interest in both offerings, with NSE commanding a premium of 12% and Hero Motors trading at a GMP of 11%. NSE's IPO will be available for subscription from September 17 to September 21, with existing shareholders receiving a discount.
The exchange, a key player in equity derivatives trading, anticipates regulatory scrutiny amid the options boom. Hero Motors, an automotive technology company, aims to use IPO funds for debt repayment and shareholder exits. Other notable IPOs in the SME segment include those from Axiom Gas Engineering, Kheria Autocomp, and SpectraA Technology Solutions.
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