Four companies are scheduled to launch their initial public offerings this week, raising a combined ₹8,873 crore through their IPOs. The activity comprises ₹702 crore in mainboard segment issues and ₹1,160.5 crore in SME segment offerings. The busiest day is expected to be October 13-15, when three mainboard IPOs will open for subscription, including Fusion CX, HD Fire Protect, and Ravita Engineering Services. Vaibhav Vyapaar is scheduled to open on October 13 and close October 15. Fusion CX opens on October 14 and closes October 16, while HD Fire Protect opens on October 13 and closes October 15.
The week's most significant offerings include Fusion CX, a ₹702 crore book-built issue comprising ₹500 crore fresh issue and ₹202 crore offer for sale, with shares priced at ₹275-₹289 per share and lot size of 51 shares. HD Fire Protect is a ₹712.31 crore entirely offer for sale issue comprising 2.63 crore shares priced at ₹258-₹271 per share with lot size of 55 shares. Ravita Engineering Services is an ₹116.05 crore SME issue entirely comprising 1.04 crore fresh shares priced at ₹105-₹112 per share with lot size of 1,200 shares. Vaibhav Vyapaar is the smallest offering at ₹42.10 crore comprising entirely 77.96 lakh fresh shares priced at ₹51-₹54 per share with lot size of 2,000 shares.
Fusion CX leads grey market estimates at a 60.71% implied listing premium (₹425 GMP), followed by HD Fire Protect at 31.37% (₹85 GMP), and Bonfiglioli Transmissions at 26.45% (₹155 GMP). Fusion CX opens on October 14 and closes October 16, with allotment expected October 19 and tentative listing October 22. HD Fire Protect has already launched with full subscription in less than two hours, while Fusion CX shows the weakest performance at 6.57% (₹19 GMP). Zetwerk Manufacturing Business and Sahajanand Medical Technologies are positioned in the middle range.
Of the 161 small and medium enterprise (SME) initial public offerings listed this year, which raised ₹7,171.18 crore, 65% are trading above their issue price according to the latest data. This represents a significant improvement from earlier reports of 81% trading below issue price. 24 have lost half or more of their value, while the median SME listing is down 0.2 per cent. A separate analysis by B2K Analytics shows that 52 per cent of SME IPOs are still trading above their issue price, indicating a mixed but generally positive performance outcome despite regulatory reforms from the Securities and Exchange Board of India (Sebi).
All four mainboard IPOs will open for public bidding on October 13-15 and wrap up their subscription process by October 16. The share allotment process is expected to get completed by October 16, and bidders are likely to be credited with their shares and requisite refunds by October 19. Fusion CX, HD Fire Protect, Ravita Engineering Services, and Vaibhav Vyapaar will list on the NSE and BSE on October 21. The IPOs require different minimum investments - retail investors need to bid for a minimum of 99 shares for Zetwerk (₹14,949), 25 shares for Bonfiglioli Transmissions (₹1,475), 21 shares for Tonbo Imaging (₹14,700), and 43 shares for Sahajanand Medical Technologies (₹14,792).
