Upcoming IPOs: Nine New Offers Open Next Week — Hexaware Tech, Ajax Engineering Among Big Ones

India's primary market will again buzz in the second week of February, with at least nine public issues scheduled to open for subscription, mostly in the SME space.

Quality Power Electrical Equipments Ltd., Hexaware Technologies Ltd. and Ajax Engineering Ltd. will launch their IPOs in the mainboard space.

Concreting equipment player Ajax Engineering's Rs 1,269-crore initial public offering is scheduled to open on Feb. 10. The price band for the IPO has been set in the range of Rs 599 to Rs 629 per share.

The market value at the upper end of the price band is Rs 7,196 crore, as per NDTV Profit's calculations. The proposed public offering consists of an offer-for-sale component of Rs 1,269.4 crore.

On the other hand, Hexaware Technologies has set a price band of Rs ⁠674-708 per share for the IPO that will open on Feb. 12 and close on Feb. 14.

The company will not issue any fresh shares, and the IPO will consist entirely of an offer for sale worth Rs 8,750 crore equity shares, according to the red herring prospectus. The market value at the upper end of the price band is Rs 43,025 crore.

Quality Power IPO comprises a fresh issue of Rs 225 crore and an offer for sale of 1.49 crore shares. It opens for subscription on Feb. 14 and closes on Feb. 18.