October 21, 2024 - The Indian stock market is up for yet another exciting week of trading thanks to a large number of impending Initial Public Offerings (IPOs), in the mainboard and SME sectors. The main market will see four significant public issues go up for subscription in addition to several listings on the NSE and BSE.

This week will see a total of six IPOs on Dalal Street with a combined goal of raising Rs 11,000 crore. Five of these are from the SME segment Rest of the IPOs are from the mainboard segment, totalling Rs 10,566 crore.

The big four IPOs are Waaree Energies (IPO launch from October 21 to October 23 and valued at Rs 4321.44 crore), Deepak Builders & Engineers (launch from October 21 to October 23 and valued at Rs 260.04 crore), Godavari Biorefineries (from October 23 to October 25 and valued at Rs 554.75 crore) and Afcons Infrastructure (from October 25 to October 29 with a total size of Rs 5,430 crore).

Additionally, Dalal Street will also witness several new IPO listings next week, including Hyundai Motors India.

Favourable market conditions and increasing liquidity, fuelled by local investors, are responsible for the current spike in IPO activity. Even though Foreign Institutional Investors (FIIs) have recently offloaded shares, Domestic Institutional Investors (DIIs) are still absorbing the selling pressure, ensuring ample of liquidity for the IPOs.

While experts say the short-term outlook for the Sensex and Nifty 50 index remains bearish, a bounce-back could occur at any time. Apart from FIIs activities and global trends and cues, the upcoming corporate results had the potential to largely drive the markets. Quarterly results from companies such ICICI, SUL, ITC, Bajaj Finance, Bajaj Finserv, Ultratech, BPCL, Kotak India, Zomato, and JSW Steel, could lead to stock-specific action.