After a gap of about a month in the primary market, there has been a lot of movement again. Initial Public Offers (IPOs) of 6 companies are going to come in the next one week.
The IPO of FSN E-Commerce Ventures, which runs the Nykaa brand, has opened and is witnessing strong demand among investors.
Shares of FSN E-commerce Ventures are currently trading at a premium of over 50 per cent in the gray market, which is much higher than Policybazaar, Sigachi Industries and SJS Enterprises .
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According to gray market data available on IPO Watch and IPO Central, only four of these 6 companies trade in the unlisted market.
A total of 6 companies are launching their public issue. Of these, Nykaa's IPO opened on 28 October and Fino Payments Bank's IPO opened on 29 October.
Apart from this, the IPOs of Policybazaar, Sigachi Industries and SJS Enterprises will open on November 1.
Nykaa IPO GMP
Started by banker-turned-businesswoman Falguni Nair, the shares of Nykaa are currently trading at Rs 1,725 per share in the gray market.
This is Rs 600 or 53.3 more than the upper price band fixed at Rs 1,125 for the company's IPO. Most of the analysts also recommend subscribing to this IPO, although its price is a bit high.
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The gray market is an informal platform where trading in IPO shares commences at the time of the announcement of the price band and continues till they are listed on the stock market.
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Policybazaar IPO The IPO of PB Fintech, the company that runs GMP Policybazaar, will open on November 1.
It is an insurance aggregator and consumer credit company. Its shares are currently available in the gray market at Rs 1,100-1,150 per share, which is Rs 120-170 or 12-17 per cent higher than the upper price band limit of Rs 980 fixed for the IPO.
On October 24, the stock was trading at a premium of around Rs 250. However, there has been a sharp decline since then. Policybazaar's IPO will be open from November 1 to November 3 with a price band of Rs 940-980 per share.
Shares of Sigachi Industries GMP
Microcrystalline Cellulose Manufacturing Company are trading at a premium of Rs 50-110 in the gray market. The issue size of Sigachi Industries is the lowest among all the IPOs to be launched in the next 15 days.
The company is preparing to raise Rs 125.43 crore from this IPO and an upper price band of Rs 163 has been kept for the IPO.
The company's shares are currently trading between Rs 213-273 in the gray market, which is a 31-67% premium over its upper price band.
SJS Enterprises IPO GMP
Decorative Aesthetics Industry major SJS Enterprises has fixed a price band of Rs 532-542 per share for its IPO.
Data from IPO Watch shows the company's shares are trading at Rs 567 in the gray market, which is Rs 25 or 4.6 per cent higher than the upper price band of Rs 542.
Paytm's parent company One97 Communications' IPO will open after Diwali on November 8 and the price band for its IPO has been fixed at Rs 2,080-2,150.
At the same time, the IPO of Sapphire Foods, which runs restaurants like KFC and Pizza Hut in the country, will be launched on November 9.