The stock market has experienced a notable correction since early October due to escalating tensions between Israel and Iran. Despite this, the initial public offering (IPO) market remains promising. Recent weeks saw a surge of IPOs, but activity will slow briefly with just two new issues next week aiming to raise Rs 365 crore. Garuda Construction and Engineering seeks Rs 264 crore on the main board, while Shiv Texchem targets over Rs 101 crore in the SME segment. Meanwhile, Hyundai Motor India Ltd is set for a significant IPO launch around October 14, potentially becoming India’s largest by raising Rs 25,000 crore. Despite current geopolitical challenges, the IPO sector is buoyed by macroeconomic factors and strong domestic mutual fund inflows. Garuda’s IPO will feature both new shares and an offer for sale, with proceeds partly used for working capital and acquisitions. Shiv Texchem’s offering is entirely new, anticipating proceeds of Rs 101.35 crore. As the month progresses, several SME IPOs, including those of HVAX Technologies and Saj Hotels, will debut, further contributing to the vibrant market dynamics.
Original Story https://www.business-standard.com/markets/ipo/ipo-mkt-braces-for-slowdown-2-new-issues-targeting-rs-365-cr-next-week-124100600146_1.html
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