This week, as the late-October chill settles over Dalal Street, a crowded queue of companies steps forward to ask investors for capital, nine offerings in all, totalling just under Rs 2,781 crore. It is the ordinary rhythm of a market that lives by raising and deploying money, yet the moment carries weight because one of the entrants, Jio Platforms, arrives as the most anticipated debut in recent memory. Behind the figures lies a quieter question about appetite: whether the savings of many households and institutions will flow toward these new businesses, and at what price. The answer will be
Jio Platforms Leads a Busy IPO Week: Nine Issues Set to Raise Rs 2,780 Crore
Subscribed 22.19 times, while Paras Healthcare drew 2.23 times
Mark
Nine IPOs in a week sounds like a lot. Is it?
Mimi
It's busy, certainly: five mainboard and four SME issues, Rs 2,780.66 crore in all. But Jio Platforms alone raised Rs 30,188 crore, so this week's total is small beside it.
Luke
Worth noting the Rs 2,780 crore is the targeted amount, not money raised. Nothing has been collected yet except EAAA's Rs 360 crore from anchors.
Mark
Why does EAAA stand out?
Mimi
It's the biggest of the week at Rs 1,200 crore, and every rupee is an offer for sale by Edelweiss Securities and Investments, so the company itself receives no fresh capital.
Luke
Right, though the source only describes the structure. It doesn't say why the promoter is selling.
Mark
And the contrast between Jio and Paras?
Mimi
Subscription of 22.19 times versus 2.23 times, and grey-market premiums of about 22% versus just over 1%.
Luke
Be careful with the grey market. It's unofficial, and the figures are what market observers report. They're not a prediction of listing prices.
Mark
What should a reader watch?
Mimi
The October 28 listings, then how the smaller issues are subscribed.
Luke
Also, the publication's disclosure notes that its parent network is controlled by a trust whose sole beneficiary is Reliance Industries, Jio's parent. Readers should know that context.
Le Pouls
- Nine public offerings crowd into a single week, pressing investors to decide quickly across mainboard and SME segments.
- Jio Platforms' Rs 30,188-crore issue drew 22 times its demand, creating a fever of expectation around its market debut.
- Grey-market premiums of roughly 22% for Jio and just over 1% for Paras Healthcare reveal sharply divided appetite among traders.
- Anchor money and staggered openings from October 26 to 29 are moving the market toward a sequence of closings and listings.
- The October 28 listings of Jio Platforms and Paras Healthcare will test whether optimism holds once shares begin trading.
This week, as the late-October chill settles over Dalal Street, a crowded queue of companies steps forward to ask investors for capital, nine offerings in all, totalling just under Rs 2,781 crore. It is the ordinary rhythm of a market that lives by raising and deploying money, yet the moment carries weight because one of the entrants, Jio Platforms, arrives as the most anticipated debut in recent memory. Behind the figures lies a quieter question about appetite: whether the savings of many households and institutions will flow toward these new businesses, and at what price. The answer will be written in the coming days, as the listings and subscription numbers come in.
On Monday, October 26, EAAA India Alternatives opens the first of nine public offerings scheduled for Dalal Street this week. Together the companies aim to raise Rs 2,780.66 crore, with the bulk of it, Rs 2,580.99 crore, coming from five mainboard issues. EAAA, an Edelweiss-promoted platform managing alternative investments in real assets and private credit, is offering Rs 1,200 crore entirely as an offer for sale by its promoter, and has already gathered Rs 360 crore from anchor investors.
The week continues with a varied mix of businesses. SFC Environmental Technologies, a wastewater treatment provider, and BLS Polymers, which makes compounds for wires, cables and pipes, open on October 27. Jewellery retailer MK Sons Fine Jewels and steel processor Bombay Coated & Special Steels follow later in the week. The SME segment adds four smaller issues, from Delhi's Wiscon Industries to Gujarat's Ajwa Projects.
Alongside these, Jio Platforms and Paras Healthcare are set to list on October 28, after their issues closed on October 23. Jio's Rs 30,188-crore offering was subscribed 22.19 times, while Paras drew about 2.23 times its Rs 1,450-crore size. Grey-market traders price Jio at a premium near 22% and Paras at just over 1%. Whether those expectations hold on listing day, and how the remaining issues fare as they close, will shape the week's verdict.
On Monday, October 26, EAAA India Alternatives opens the first of nine public offerings scheduled for Dalal Street this week. Together the nine companies aim to raise Rs 2,780.66 crore, and Rs 2,580.99 crore of that comes from five mainboard issues.
EAAA India Alternatives is an Edelweiss-promoted platform that manages alternative investments in real assets and private credit. Its Rs 1,200-crore issue carries a price band of Rs 1,585 to Rs 1,665 per share and is entirely an offer for sale by the promoter entity Edelweiss Securities and Investments. The company has already collected Rs 360 crore from anchor investors on October 23.
Two more mainboard issues open on Tuesday, October 27. SFC Environmental Technologies, a wastewater treatment solutions provider, is raising Rs 667.53 crore at Rs 313 to Rs 330 per share. That sum combines a fresh issue worth Rs 150 crore with an offer for sale of 1.56 crore shares worth Rs 517.53 crore by existing shareholders, promoters among them. BLS Polymers makes polymer compounds used in wires, cables and underground pipelines. It seeks Rs 255 crore through a fresh issue of 1.7 crore shares priced at Rs 142 to Rs 150.
The last two mainboard offerings follow later in the week. Jewellery retailer MK Sons Fine Jewels opens on October 28, raising Rs 275.4 crore through a fresh issue of 1.36 crore shares and an offer for sale of 34 lakh shares, with a band of Rs 153 to Rs 162. On October 29, Bombay Coated & Special Steels, which converts steel coils into processed products for original equipment and original design manufacturers, opens a Rs 183.06-crore fresh issue priced at Rs 78 to Rs 82.
The SME segment adds four issues worth Rs 199.67 crore. Delhi-based consumer electronics supplier Wiscon Industries is the largest and first, opening October 27 with a Rs 110-crore issue at Rs 194 to Rs 204 per share. Carver Roboweld of Rajkot, a welding consumables maker, and Ajwa Projects, a Gujarat-based industrial services company, both open on October 28. Carver wants Rs 28.29 crore from 35.36 lakh fresh shares at Rs 76 to Rs 80. Ajwa is raising over Rs 38 crore at a fixed price of Rs 203. Packaging solutions provider Antala Industries closes out the SME group with a Rs 23.33-crore issue of 34.82 lakh fresh shares, priced at Rs 63 to Rs 67.
Alongside the new offerings, three companies are due to make their market debuts, the best known being Jio Platforms. Shares of Reliance Industries' Jio Platforms and of hospital chain Paras Healthcare are scheduled to list on the BSE and NSE on October 28, after their issues closed on October 23.
Demand for the two differed sharply. Jio Platforms' Rs 30,188-crore issue was subscribed 22.19 times, while Paras Healthcare's Rs 1,450-crore issue drew 2.23 times its size. In the grey market, the unofficial venue where IPO shares trade before listing, market observers put Jio at a premium of around 22% and Paras at just over 1%.
The listings on October 28 will show whether those grey-market premiums hold, and the subscription figures for the nine new issues will follow as each one closes.
Citations marquantes
Jio Platforms shares were trading at a grey-market premium of around 22%, and Paras Healthcare at just over 1%.— Market observers, as reported by Moneycontrol
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Economy & Finance