Primary Market Slowdown Next Week As Only Two IPOs Open, Excelsoft Technologies & Gallard Steel Issues To Hit The Street
Only two IPOs—Excelsoft Technologies and Gallard Steel—will open for subscription next week, even as seven companies prepare for market listings. The coming week will see a range of debuts across mainboard and SME platforms, offering investors fresh opportunities despite a slower primary market pipeline.
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Mumbai: The primary market is set for a quieter week ahead, with only two new public issues opening for subscription even as several companies prepare to make their stock market debut. After a steady flow of offerings in recent weeks, the upcoming window will see Excelsoft Technologies and Gallard Steel launching their IPOs, drawing interest from both institutional and retail investors.
Excelsoft Technologies IPO, a mainboard offering, will open on November 19 and close on November 21. The company aims to raise Rs 500 crore, comprising a fresh issuance of 1.50 crore shares worth Rs 180 crore and an offer for sale of 2.67 crore shares totaling Rs 320 crore. The price band has been fixed between Rs 114 and Rs 120 per share. Anand Rathi Advisors Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. will act as registrar. The firm’s diversified product suite in education technology and enterprise solutions is expected to attract long-term investors.
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Gallard Steel IPO, also opening on November 19 and closing on November 21, will tap the SME segment with a fully fresh issue of 0.25 crore shares, aggregating Rs 37.50 crore. The price band has been set between Rs 142 and Rs 150 per share. Seren Capital Pvt. Ltd. is the book-running lead manager, and Ankit Consultancy Pvt. Ltd. will serve as the registrar.
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In addition to these new offers, the market will witness seven listings next week, adding to the momentum of recent debuts. PhysicsWallah and Emmvee Photovoltaic are poised to list on the BSE and NSE on November 18, followed by Tenneco Clean Air on November 19, and Fujiyama Power Systems on November 20. Capillary Technologies is scheduled for listing on November 21. Meanwhile, SME listings include Workmates Core2Cloud, Mahamaya Lifesciences, both set for November 18 on the BSE SME platform.
With a mix of tech, steel, clean energy, and SME-sector listings, the week ahead promises a diverse set of market entries despite fewer IPO openings.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors are advised to consult financial professionals and review offer documents before making investment decisions.
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