IPO Rush: Three New Issues To Hit Street This Week, Another 12 To List

India's primary market will remain buzzing this week with the opening of three initial public offerings and 12 listings, including Ola Electric Ltd.'s much-awaited debut.

The week starting Aug. 5 will see the launch of two mainboard offerings, Brainbees Solutions Ltd. and Unicommerce eSolutions Ltd., as well as the continuation of Ola Electric and Ceigall India Ltd.

On Aug. 8, Aesthetik Engineers Ltd. will tap the primary market in the small and medium enterprise space to raise Rs 26.4 crore at an issue price of Rs 55–58 per share.

Brainbees Solutions, the parent firm of online e-commerce platform FirstCry, set a price band of Rs 440 to Rs 465 per share for its initial public offering. The issue will open on Aug. 6.

The IPO consists of a fresh issue of shares worth Rs 1,666 crore and an offer-for-sale component consisting of 5.43 crore shares, according to the red herring prospectus. The size of the fresh issue was brought down from Rs 1,816 crore when it filled its preliminary papers with the market regulator.

The initial public offering of SoftBank-backed Unicommerce eSolutions Ltd. will open for subscription on Aug. 6 in the price band of Rs 102–108 per share.

The public issue is entirely an offer for the sale of up to 2.56 crore equity shares, aggregating Rs 276.6 crore, by the selling shareholders. The market value at the upper end of the price band is Rs 1,106 crore for the e-commerce enablement software-as-a-service platform.

Meanwhile, the IPO of Ola Electric was subscribed to 35% on day one, while the issue of Ceigall India was subscribed to 1.23 times on day two.

On the listings front, the three companies in the mainboard space will debut in the national bourses during the week. Akums Drugs and Pharmaceuticals Ltd., Ceigall India and Ola Electric will be the companies to debut along with another nine companies in the SME space.