IPO mkt braces for slowdown; 2 new issues targeting Rs 365 cr next week

After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore.

There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September.

IPOs scheduled for next week, beginning October 7, are Garuda Construction and Engineering on the main board and Shiv Texchem on the SME segment.

Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10.

The stock market has seen a significant correction in the equity market since the start of October amid intensifying conflict between Israel and Iran.

Despite the temporary slowdown, overall, the outlook for the IPO market is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 .