Tata Technologies, Cello among IPOs set for launch amid volatile market

Tata Technologies is among the most-awaited IPOs and the same is set to mark its entry into the share market in the second or third week of November

About 12 companies are set to come up with their initial public offerings (IPOs) to raise more than Rs 15,000 crore in the coming months, The Economic Times (ET) has reported. This comes at a when the share markets are witnessing a great deal of volatility and price fluctuations. Several of these companies plan to launch their IPOs before Diwali, which is on November 12.

Cello World and Blue Jet Healthcare have already announced their IPS dates. On the other hand, Tata Technologies, Mamaearth, ASK Automative, Protean eGov Technologies, Fedbank Financial Services, ESAF Small Finance Bank, Flair Writing Industries and Credo Brands Marketing, among other companies, are doing the same.

Cello World, a major player in the consumer houseware, writing material, and stationery items, will open for public subscription on October 30 and close on November 1. The company has set the price at Rs 617-648 per share. The IPO for Blue Jet Healthcare will be available for subscription until October 27. The company aims to raise Rs 840 crore through the exercise.

Healthy institutional demand

Tata Technologies is among the most-awaited IPOs, and the same is set to mark its entry in the share market in the second or third week of November. When completed, this will mark the first issue from the Tata Group in about twenty years. The last IPO from the Tata Group was by Tata Consultancy Services (TCS), which was launched in 2004. At its launch, TCS made a Rs 5,500 crore offer. The ET report cited bankers as saying institutional investors are interested in investing.

Market experts have said that Tata Technologies shares are likely to be issued in the price range of Rs 450-500 per share and it has a Rs 240 premium in the unofficial market, The Economic Times (ET) report said.

The public issue of Honasa Conusmer, the parent of Mamaearth, is expected to be launched next week to raise about Rs 1,650 crore. The IPO includes a fresh issue of Rs 400 crore and an offer of sale of 46.8 million shares from existing investors.

Managing Director of JM Financial, Atul Mehra, was quoted in the ET report as saying, "Even in volatile market conditions, at the right valuation, robust institutional demand has been evident during road shows."