15 IPOs in September
Yesterday i.e. on Monday, two major incidents occurred in the Indian stock market. One was the opening of Bajaj Housing Finance IPO, the second was the closing of Shree Tirupati Balajee Agro Trading IPO, the IPO of both companies created a record yesterday. Bajaj IPO was subscribed in just 4 hours after its opening. Whereas Tirupati Balaji Agro IPO was closed after being oversubscribed 124 times. But both the IPOs witnessed another record, which will break a 14-year record.
Yes, this time, more than 15 IPOs are going to be launched in the month of September. This breaks the 14-year-old record of launching the maximum number of IPOs in a single month. September 2010 was the month when 15 companies launched their IPOs in the country.
IPO of this month
The IPO launch process has been underway since the beginning of this month. So far, Gala Precision Engineering, Sri Tirupati Balaji Agro Trading Company, Bazaar Style Retail, Eco Mobility, Bajaj Housing Finance, Cross Limited, Tollins Tyres and PN Gadgil Jewellers have launched IPOs. While IPOs of companies like Afcon Infra, Neeva Bupa Health Insurance, Northern Arch, Western Carrier, Arcade Developers, Shivalik Engineering, Garuda Construction, Manaba Finance and Diffusion Engineering are in the queue.
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giving opportunity to win
The oversubscription of these IPOs indicates that there is a good sentiment among investors regarding IPOs in the market. At the same time, the grey market premium (GMP) price of the shares of many of these companies indicates that they are providing ample profit opportunities to investors. The GMP of the shares of a company like Bajaj Housing Finance touched Rs 130 with a growth of 85 per cent. At the same time, the GMP shares of Tirupati Balaji Agro Trading are also showing a growth of 60 per cent.
