The IPO market is abuzz with activity this week as eight companies, including six from the SME segment, prepare to open their IPOs for subscription. Alongside these openings, six listings are also set to make their debut on the stock market. Among the mainboard segment offerings, Ajax Engineering and Hexaware Technologies are poised to take center stage.
Ajax Engineering, a prominent manufacturer of concrete equipment, is gearing up to launch its IPO for public subscription on February 10. With a price band set between ₹599-629 per share, the company plans to offer 2.01 crore equity shares through an offer-for-sale (OFS) by existing shareholders, without any fresh issue component.
Being one of the top three global manufacturers of self-loading concrete mixers (SLCMs), Ajax Engineering commands a dominant 75% share of the SLCM market in India. The IPO will be steered by a consortium of esteemed financial institutions, including ICICI Securities, Citigroup Global Markets India, JM Financial, Nuvama Wealth Management, and SBI Capital Markets.
On the other hand, Hexaware Technologies is gearing up to launch its ₹8,750 crore IPO with a price band ranging from ₹674-708 per share. This offering, which consists solely of an offer-for-sale (OFS), will witness promoter Carlyle reducing its stake from 95% to 74.1% post-listing.
For retail investors looking to get in on the action, a minimum bid of 21 shares, amounting to at least ₹14,868, is required to participate in Hexaware’s IPO. This landmark offering is set to become the largest-ever IPO by an Indian IT services company, surpassing the likes of TCS’s ₹4,713 crore IPO back in 2004.
After a hiatus of five years, Hexaware Technologies is making a comeback to the market following its delisting in September 2020 at ₹475 per share. The company’s revenue for the first nine months of 2024 reveals that its top five clients contributed 25.8% of its revenue, while the top 10 clients accounted for 35.7%.
Moving on to the SME segment, next week will see six IPOs hitting the market, with Chandan Healthcare aiming to raise ₹107 crore and Maxvolt Energy targeting ₹54 crore. Other companies set to launch their IPOs include PS Raj Steels, Voler Car, LK Mehta Polymers, and Shanmuga Hospital.
As the IPO frenzy continues to gain momentum, investors are advised to exercise caution and seek guidance from financial experts before making any investment decisions. Remember, the stock market can be unpredictable, and it’s always wise to approach it with a well-informed strategy.
In the fast-paced world of IPOs and stock market listings, staying informed and seeking professional advice can make all the difference between success and disappointment. So, whether you’re a seasoned investor or a newcomer to the market, take the time to understand the offerings on the table and make decisions that align with your financial goals and risk tolerance. Happy investing!
