IPO Market Buzz: Three IPOs to hit D-Street next week
IPO Market Buzz: To start with, the IPO Market is sounding once again with three upcoming initial public offerings. Chemcon Specialty, Angel Broking, and CAMS IPOs are ready to create a new record in D-street.
On Thursday, Happiest Minds shares witnessed a stellar debut on the stock market. The share price of Happiest Minds listed at Rs. 351 on BSE, 111% premium to the issue price. The price band for the IPO is fixed at Rs. 166 per equity share. However, the Happiest Minds IPO subscribed 151 times.
The D-street ready with the other three IPOs. However, Analysts expect a good response from the investors. On account of, Rossari Biotech, Happiest Minds, and Route Mobile IPOs oversubscribed in the market even in the COVID pandemic.
Angel Broking IPO
The upcoming IPOs opening for the subscription in the next week. In which, Angel Broking IPO is going to hit the market on 22nd September 2020. It is the main-board IPO. The firm plans to raise around Rs. 600 crores through the initial public offering.
The price band for the IPO was fixed between Rs. 305 – Rs. 306 per equity share. Moreover, the market lot for the stock fixed as 49 shares per lot. Besides, the minimum order quantity of the IPO settled at 49 shares (minimum 1 lot).
Angel Broking is one of the top six largest retail broking houses in India. The experts said that the firm offered IPO at a reasonable price based on the Q1 of FY21 performance. However, the experts suggested subscribing to the IPO. Moreover, investors may consider investment for the Long-term.
Chemcon Initial Public Offering
In the IPO list, another one is Chemcon. The Chemcon IPO to hit the market on 21st September 2020. The company is planning to offer 93,52,940 equity shares worth Rs. 318.00 crores. Chemcon IPO is a combination of a fresh issue and offers for sale. The company fixed a price band between Rs. 338 – Rs. 340 per equity share.
Besides, the market lot is set as 44 shares. Investors should invest a minimum order quantity of 44 shares per application. It allows a maximum of 35 per cent of shares for the retail investors.
The stock experts have a strong note on this IPO. Because it has reported strong growth and also improved capacities for increasing the operational revenue by the Q1 of 2020-2021. So, the experts recommended subscribing to the IPO for Long-term.
CAMS IPO – Subscribed
Computer Age Management Services Limited is planning to raise over Rs. 2,244.33 crores. The IPO will open for subscription on 21st September 2020. It offers 1,82,46,600 equity shares under the offer for sale of face value Rs. 10 per equity share. Moreover, the firm fixed a price band at Rs. 1,230 per equity share.
Furthermore, the company has a strong presence in Mutual funds. As per the source, the firm has reserved 1,82,500 equity shares for the employees. Moreover, it offers shares at a discount of Rs. 122 per equity share for eligible employees.
According to the source, the IPO received subscribing recommendations from the market experts.
Disclaimer: This article offers details regarding the scheme. It does not provide any advice or investment tips. MF investments are fixed to market risk. Please consult your financial advisor before investing.