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The people’s newsroom

EconomyIPOs

Four IPOs close on Monday before Jio Platforms and Paras Healthcare open

Zetwerk, Tonbo Imaging, Bonfiglioli and Sahajanand Medical take their last bids on 19 October. The ₹30,000 crore Jio offer follows on Wednesday, with three listings due in the same week.

From the editorial desk · MumbaiPublished

Key points

  1. Four mainboard issues worth about ₹8,870 crore close for bids on Monday, 19 October.
  2. Jio Platforms' IPO, priced at ₹1,065-1,119 a share, opens on 21 October.
  3. HD Fire Protect, bid about 131 times, is due to list on 21 October.

Four companies take their last bids on Monday, 19 October, in a crowded week for share sales that ends with Jio Platforms’ offer, which could be India’s biggest IPO.

Zetwerk Manufacturing’s ₹5,012 crore issue, priced at ₹143-151 a share, had been subscribed only 0.31 times by Friday’s close. Bonfiglioli Transmissions’ ₹2,534 crore offer, at ₹558-586, was just short of fully covered at 0.99 times, and Sahajanand Medical Technologies’ ₹475 crore issue, at ₹327-344, about 0.8 times. Tonbo Imaging India, an ₹852 crore issue priced at ₹665-700, has drawn by far the strongest demand, at 7.78 times.

Together the four are seeking about ₹8,870 crore. Shellz India’s ₹60 crore offer on the BSE SME platform also closes on Monday.

Jio and Paras on Wednesday

Jio Platforms opens its initial public offering on Wednesday, 21 October, and closes it on 23 October. At ₹1,065-1,119 a share, the issue is worth about ₹30,200 crore at the top of the band. Investors will be watching whether it pulls money away from the rest of the market.

Paras Healthcare, the hospital chain, opens its ₹1,450 crore offer the same day, at ₹660-693 a share.

Listings

HD Fire Protect, whose ₹712 crore issue was bid about 131 times, is due to list on 21 October. Fusion CX, the customer experience company whose ₹702 crore offer was subscribed more than four times, gets its allotment on Monday and lists on 22 October. Zetwerk, Tonbo and Sahajanand Medical are scheduled to list on 23 October.