Five IPOs to open next week; companies eye close to Rs 2,600 Cr

What happened

Five companies, including EAAA India Alternatives, SFC Environmental Technologies, and M K Sons Fine Jewels, are set to launch their initial public offerings (IPOs (the sale of a company’s shares to the public on a stock exchange)) next week, aiming to raise nearly Rs 2,600 crore in the primary market. These companies are expected to announce price band declarations and launch plans by November 5, ahead of the extended Diwali holiday period in Gujarat, where markets and business activity are likely to be affected by the post-Diwali observance of Labh Pancham from November 6 to 15, they added.

BLS Polymers and Bombay Coated and Special Steels would also float their maiden public offerings during the week. Separately, several other companies, including Gujarat Victory Forging, Milestone Gears, Avaada Electro, Swara Baby Products, Integris Medtech and AGS Health, are in the pipeline for IPO, according to merchant bankers. The upcoming issues follow a busy month for the primary market, which saw Jio Platforms launch the country's biggest-ever public issue worth Rs 30,213 crore.