ideaForge IPO price band announced, issue opens on 26 June; check size, listing date, other details

ideaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber Ltd, Global Pet Industries Ltd, Synoptics Technologies, and Tridhya Tech Ltd are opening for initial public offering (IPOs).

Urban Enviro Waste Management Ltd, Bizotic Commercial Ltd, Cosmic CRF Ltd, Cell Point (India) Ltd and HMA Agro Industries Ltd are opening for initial public offering (IPOs).

Several companies are opening for subscription and getting listed on the stock exchange this month, including TVS Supply Chain Solutions, Balaji Specialty Chemicals, among others.

Fedbank Financial Services IPO consists fresh equity issue worth Rs 600 crore along with an offer for sale (OFS) comprising 35,161,723 equity shares. Under the OFS, 1.64 crore equity shares will be offloaded by Federal Bank and 5.38 crore shares by True North Fund VI LLP.

The company’s shares opened at Rs 71 on the National Stock Exchange and Rs 71.9 on the Bombay Stock Exchange, surpassing the IPO price of Rs 60.

The initial public offering (IPO) of Emcure Pharmaceuticals Limited, which is backed by Namita Thapar, opened for subscription on Wednesday looking to raise Rs 1,952.03 crore.

Mumbai-based drone maker, Ideaforge, is set to go public on June 26 with a price band of Rs 638-672 ($8.50-$8.95) per share, raising Rs 567 crore ($75.8m) at the upper end. Of the net offer amount, 75% is reserved for qualified institutional buyers, 15% for non-institutional buyers, and 10% for retail investors.

Seven IPOs, including Popular Vehicles and Krystal Integrated, will open for subscription next week. RK Swamy Ltd, VR Infraspace, Sona Machinery, JB Chemicals, Shree Karni Fabcom, Kourna Fine Diamond, Gopal Snacks, and Pune E-Stock Broking will make their debuts on Dalal Street.

The second half of the year is expected to see a number of companies launching their initial public offerings (IPOs). Senco Gold, PKH Ventures, Global Pet Industries, Tridhya Tech, and Synoptics Technologies have already opened for subscription. Senco Gold's IPO will open on July 4, while PKH Ventures' IPO began on June 30. In addition, four SMEs will also bring their public issues this week. Alphalogic Industries' IPO will open on July 3, and Global Pet Industries, Tridhya Tech, and Synoptics Technologies' IPOs will close on July 3, July 5, and July 5, respectively.

Concerns over elevated valuation coupled with selling by passive funds resulted in the stock decline during the listing week, according to analysts. Traders are speculating that Jio shares could rebound early next week amid the annual general meeting of parent Reliance Industries, scheduled on Monday