Business: India’s primary market will see significant market activity related to the listing of the much-awaited initial public offerings (IPOs) of NTPC Green Energy, Enviro Infra Engineers and two other small and medium enterprise (SME) public issues. Along with this, six other SME IPOs will also open this week starting November 25.
The stock market recovered with a gain of more than 2 percent after falling more than half a percent on Friday, including index heavyweights like Reliance, Infosys, ICICI Bank and TCS. The Nifty 50 closed 2.39 percent higher at 23,907.25 points after Friday’s trading session, compared to 23,349.90 points at the previous market close. The BSE Sensex index closed 2.54 percent higher at 79,117.11 points compared to its previous close of 77,155.79 points. Despite challenges in the market due to Adani shares falling due to allegations by the US securities regulator, the entire third week of November remained quite active for the primary markets. Looking ahead, the list of upcoming IPOs next week includes six SME IPOs that aim to raise funds from the public markets in the last week of November.
Agarwal Toughened Glass India Limited IPO
Agarwal Toughened Glass India Limited is a tempered glass manufacturer offering a fresh issue of 58 lakh shares. The company aims to raise ₹62.64 crore through a book-built public issue.
The public issue will open for subscription on Thursday, November 28 and close on Monday, December 2. The shares are expected to be listed on the NSE SME index on Thursday, December 5.
The company has fixed the price band for the IPO at ₹105 to ₹108 per share, with a lot size of 1,200 shares per lot. Retail investors need to invest a minimum of ₹1,29,600 and HNIs need to invest a minimum of 2 lots (2,400 shares), amounting to ₹2,59,200.
Cumulative Capital Private Limited is the book-runner for the public issue, while KFin Technologies Limited is the registrar to the offer. The market maker for Agarwal Toughened Glass India IPO is Nikunj Stock Brokers.
