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Four IPOs Target ₹1,776 Crore as GMPs Diverge
Four companies are planning to sell shares to the public.
Their IPOs are scheduled to open on 25 September and close on 29 September.
Together, they aim to raise about ₹1,776 crore.
Runwal Enterprises is a real estate company.
German Green Steel makes iron and steel and wants money for expansion and renewable power.
Orient Cables makes networking cables and related equipment.
AceVector operates a digital commerce ecosystem.
The grey market showed different expectations for the companies, from a ₹45 premium for Orient Cables to no premium for AceVector.
These grey-market indications are not the same as official listing prices.
Four IPOs from real estate, steel, networking and digital commerce are scheduled to open on 25 September and close on 29 September.
Runwal Enterprises has set a ₹290–₹305 price band for its ₹500-crore fresh issue, with a grey market premium of ₹17.
German Green Steel’s ₹132–₹₹139 IPO includes a ₹290-crore fresh issue and a ₹13.9-crore offer for sale, while its GMP is ₹24.
Orient Cables has priced its ₹552-crore IPO at ₹258–₹272 per share, with ₹320 crore from a fresh issue and a ₹45 GMP.
AceVector’s ₹30–₹32 IPO totals ₹420 crore, while its shares were trading at the issue price with a GMP of ₹0.
- Who
- Runwal Enterprises Ltd, German Green Steel, Orient Cables (India) Ltd and AceVector Ltd.
- What
- Four companies are launching initial public offerings totaling approximately ₹1,776 crore.
- Where
- The companies include a Mumbai-based real estate developer and a Gujarat-based steel manufacturer; the locations of the other companies are not specified.
- When
- The IPOs are scheduled to open on 25 September and remain open until 29 September.
- Why
- The companies are raising funds for purposes including business expansion, manufacturing capacity and renewable power, while some shares are also being sold by existing shareholders.
Key facts
- IPO window
- 25 September to 29 September
- Combined fundraising
- Approximately ₹1,776 crore
- Runwal Enterprises price band
- ₹290–₹305 per share
- German Green Steel price band
- ₹132–₹139 per share
- Orient Cables price band
- ₹258–₹272 per share
- AceVector price band
- ₹30–₹32 per share
- Highest reported GMP
- Orient Cables at ₹45
- Lowest reported GMP
- AceVector at ₹0
Sources
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