Saturday, October 16, 2021

SEBI Approves 4 IPOs; Star Health, Adani Wilmar, Nykaa & Penna Cement

The Securities and Exchange Board of India - SEBI approved four more companies DRHP. The companies that got the go-ahead from SEBI are Star Health Insurance, Adani Wilmar, Nykaa & Penna Cement. A total of ₹12000 crores IPOs might hit the market soon, wait for the RHPs for the final date.

Upcoming IPO

The primary market is booming and we have witnessed a few of the super listings for the IPOs. The more companies are line-up for the initial public offerings and investors are looking at that as the positives. Still, there are few companies that investors should look at before investing but few brands are already valued ones so the investors should apply the IPO with long-term views.

Star Health Insurance is backed by Rakesh Jhunjhunwala, the IPO comprises a fresh issue of ₹2000 crores and an offer for sale (OFS) of up to 60,104,677 equity shares. As per the DRHP, Rakesh Jhunjhunwala will not sell his stake in IPO. The Penna Cement IPO is going to raise ₹1,550 crore via IPO that comprises ₹1300 crores of fresh issue and offer-for-sale by promoters, PR Cement Holdings Ltd of up to ₹250 crore.

Read Also: Over 35 IPOs are Coming Soon in Q3 2021

Adani Wilmar is one of the IPOs that investors will look at after the bull run in Adani Group of Companies. Adani Wilmar IPO to raise ₹4500 crores via an initial public offering. Nykaa is one of the awaited IPOs as we have seen some super movement in the grey market. The grey market is hovering around 600 rupees against the Nykaa IPO price (price band not declared yet). Nykaa to raise ₹4000 crores via IPO that comprises ₹525 crores via the fresh issue and OFS. The company valued around 40000 crores as per the market speculations.

It will be good to see upcoming IPO has big names and we will see they will join the rally in the coming months. The market bull run might go on as the market is expecting Nifty to reach the 20000+ level in 2021. Let us see how the primary market will help the indices to hit the highs and the investors will surely be benefited from it.