Shiprocket, Dhoot Transmission Among Nine IPOs Opening Next Week

When companies need money to grow, they can sell small pieces of themselves, called shares, to the public.

The first time a company sells its shares to everyone is called an IPO, which stands for initial public offering.

In India, next week will be a very busy time for IPOs.

One report says nine companies hope to raise about ₹7,681 crore together, while another report says five firms are aiming for over ₹7,400 crore.

The biggest new IPO is from Dhoot Transmission, a company that makes auto parts, which hopes to raise ₹3,066.89 crore.

Shiprocket, an online shipping and e-commerce platform, plans to raise ₹1,617.48 crore.

Milky Mist Dairy Food, a dairy company, wants to raise ₹1,553 crore, which could make it the biggest IPO by an Indian dairy company.

Molbio Diagnostics, a company that makes medical tests, is also selling shares.

Some smaller SME companies, like Sham Foam and Fascinate Textiles, will offer shares too.

Shares of eight companies that sold shares last week will start trading on the stock market for the first time.