These companies are expected to announce price band declarations and launch plans by November 5, ahead of the extended Diwali holiday period in Gujarat
Five IPOs To Raise ₹2,600 Crore
Five companies are preparing to enter the primary market next week, collectively targeting close to ₹2,600 crore. The list includes EAAA India Alternatives, SFC Environmental Technologies, M. K. Sons Fine Jewels, BLS Polymers, and Bombay Coated and Special Steels. Subscription windows for these issues will run between October 26 and October 29, with closing dates spread across October 28 to November 2.
The offerings span a range of sectors: alternative investments, polymers, steel processing, wastewater treatment, and jewellery retail. EAAA India Alternatives, a unit of Edelweiss Financial Services, is the largest of the five at ₹1,200 crore, priced at ₹1,585–1,665 per share and valuing the firm at ₹10,765 crore at the upper band. It is a pure offer for sale by the Edelweiss Group, so the company itself will not receive any proceeds, though it has already mopped up about ₹360 crore from anchor investors.
SFC Environmental Technologies is seeking ₹668 crore, with a price band of ₹313–330 per share and an upper-end valuation of roughly ₹3,233 crore. Its structure blends a fresh issue of ₹150 crore with an offer for sale of up to 1.57 crore shares by promoters and existing shareholders. M. K. Sons Fine Jewels has set a ₹275.4-crore target at ₹153–162 per share, combining a fresh issue of 1.36 crore shares with an offer for sale of 34 lakh shares by promoter selling shareholder Ramchand Murlidhar Raimalani.
Why It Matters For Businesses
The pipeline matters beyond the five names. Several other companies, including Gujarat Victory Forging, Milestone Gears, Avaada Electro, Swara Baby Products, Integris Medtech and AGS Health, are waiting in the wings. Merchant bankers expect price band declarations and launch plans by November 5, timed ahead of the extended Diwali break in Gujarat, where Labh Pancham observances from November 6 to 15 are likely to slow market and business activity.
The use of proceeds is instructive for compliance and…
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