InvestorQ : Can you tell me about the 3 major IPOs that are opening in the week starting on 21 September?
indhumathi Sayani made post

Can you tell me about the 3 major IPOs that are opening in the week starting on 21 September?

Answer
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1 month ago


Here is what you need to know about the 3 IPOs that are opening in the coming weak and their key features.

· Three more major IPOs will open in the week starting on 21 September. These include CAMS, Chemcon Speciality Chemicals and Angel Broking. These issues will be hitting the market at a time when there is abundant liquidity in the system.

· Issues like Happiest Minds and Route Mobile got oversubscribed 151 times and 72 times respectively. Such heavy oversubscription is expected in the coming weeks also.

· The IPO of CAMS and Chemcon Speciality Chemicals will open on September 21. On the other hand, the IPO of Angel Broking will open for subscription on September 22. All these IPOs will remain open for a period of 3 working days.

· Most promoters are queuing up to tap the primary market to make the most of the liquidity flows at this point of time. The valuations are also good and the surge in demat accounts is also likely to help.

· CAMS has fixed the price band at Rs.1229-1230 for the IPO will CAMS will offload the 37.4% stake that NSE has in CAMS through the issue. NSE has already been directed by SEBI to divest its entire stake in CAMS.

· While CAMS is India's largest mutual funds registrar with a market share of nearly 70%, its IPO also appears to be priced at the higher of the justifiable price based on PE valuations.

· The other IPO of Chemcon Speciality Chemicals will issue shares in the price band of Rs.338-340 per share and is likely to attract interesting considering its focus on the niche MF registry space.

· Chemcon will do a fresh issuance of equity aggregating up to Rs.165 crore and an offer for sale for sale. At the higher end of the price band, the IPO will fetch ₹318 crore.

· Angel IPO will open on September 22 and it plans to raise Rs.600 crore. Out of this amount, Rs.300 crore will be by way of fresh issue and the balance Rs.300 crore by way of divestment of stake. The price band has bene set at Rs.305-306 for the issue.