India’s stock markets are in the grip of a seemingly endless bull run, with many companies taking advantage of the buoyant markets to raise capital through IPOs.

Ola Electric’s IPO is one of the most talked about IPOs in recent months, fetching a grey market premium of Rs 11.70 crore on July 29, 2024. (Photo credit: Freepik)

The IPO street has become active again after the Budget, which has managed to send the right signals to the markets and overcome concerns that the Modi 3.0 government under the constraints of coalition partners would veer too much towards populism and put less emphasis on fiscal discipline.

First EV car company in IPO street

August begins with the much-awaited Ola Electric IPO. This week ends with the opening of this IPO for applications on Friday, August 2. According to reports, it could open for anchor investors on Thursday, August 1.

The price band is Rs 72-76 for an equity share. The minimum subscription is for 195 shares.
The company had around 35% share of India’s electric two-wheeler market in FY24. It becomes the first EV startup to roll out an IPO in the country.

Headquartered in Bengaluru, Ola Electric is backed by Softbank, the Japanese venture capital giant which is also the largest technology-focused venture capitalist.

The IPO proceeds will fund capital expenditure, R&D and repayment of old loans. Bajaj Auto, TVS Motors, Ather Energy are competitors of Ola Electric.

Clinitech Laboratory IPO

Tuesday, August 30, is the last date to apply for Clinitech Laboratory’s IPO, which opened for subscription on July 25. It is selling a stake of its own for Rs 96 and is looking to raise just over Rs 5.78 crore. One can apply for a minimum of 1,200 shares.

SA Tech Software India IPO

Another pending IPO that is also set to close on July 30 is that of SA Tech Software India, which opened on July 26. It is an SME company.

The company has announced a price band of Rs 56-59 for each equity share. The company is looking to raise Rs 23.01 crore from the IPO.

Akums Drugs and Pharmaceuticals IPO

A third company in the process of an IPO is Akums Drugs and Pharmaceuticals. The IPO opened for subscription on July 30 and is expected to close on Thursday, August 1.

The price band of this company has been fixed between Rs 646 and Rs 679 per share. The face value of this is Rs 2.

The pharmaceutical company will issue over 2.78 crore shares through the bookbuilding process.
Akums Drugs has reserved 10% of its shares for private investors.

(Disclaimer: This article is for informational purposes only. News9live.com does not recommend buying or selling shares or subscribing to IPOs and Mutual Funds..)

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