Economy · India
Multiple Indian Companies Launch IPOs in Early September
Several Indian companies are set to launch their Initial Public Offerings (IPOs) in early September. Veegaland Developers announced an IPO of ₹210 crore with a price band of ₹130-₹140 per share, opening on September 9. Kanohar Electricals and Karamtara Engineering also have IPOs scheduled to open on September 8 and September 9, respectively. Manipal Payment and Identity Solutions has set a price band of ₹322-₹339 per share for its ₹805 crore IPO, opening on September 9. Rentomojo plans a ₹1,256 crore IPO with a price band of ₹384-₹404, opening on September 9. LCC Projects will open its ₹427 crore IPO on September 9 with a price band of ₹139-₹146 per share. The National Stock Exchange (NSE) has received SEBI approval for its IPO, with plans for book-building and listing this month. Separately, the allotment status for the Rays of Belief IPO, which had a grey market premium indicating a potential 7% listing gain, was to be finalised on September 4.
How outlets across the spectrum covered it
- Centre (8 votes, 9 outlets): Business Standard, Business Today, DNA (Daily News & Analysis), Hindustan (Hindi) · Mint (HT Media — 1 vote), The Financial Express, The Free Press Journal, The Hindu BusinessLine, The Times of India
- Right (2): Punjab Kesari, Republic World
- International (1): Reuters