IPO Feast: 6 issues including Tonbo Imaging, Bonfiglioli & Fusion CX available for subscription; check GMP, other details

India’s primary market is gearing up for an IPO feast on Thursday, October 15, with six mainboard initial public offerings (IPOs) collectively seeking to raise Rs 10,287.78 crore. The lineup includes HD Fire Protect, Fusion CX , Tonbo Imaging India, Zetwerk Manufacturing Business, Bonfiglioli Transmissions and Sahajanand Medical Technologies.

Of the six issues, four new IPOs, namely Tonbo Imaging India, Zetwerk Manufacturing Business, Bonfiglioli Transmissions and Sahajanand Medical Technologies, open for subscription today. HD Fire Protect enters the final day of its bidding window, while Fusion CX moves into the second day of subscription. HD Fire Protect will close on October 15, Fusion CX on October 16, and the four new issues will remain open until October 19.

Zetwerk Manufacturing Business leads the fundraising race with an issue size of Rs 5,012.33 crore, making it the largest offering in the lineup. Bonfiglioli Transmissions follows with a Rs 2,533.66 crore IPO, while Tonbo Imaging India is looking to raise Rs 852.18 crore. HD Fire Protect and Fusion CX are seeking to raise Rs 712.13 crore and Rs 702 crore, respectively. Sahajanand Medical Technologies has the smallest offering, at Rs 475.48 crore.

The grey market is also offering a glimpse into investor expectations, with Tonbo Imaging India commanding the highest grey market premium (GMP) at 71.43% over its upper price band. HD Fire Protect follows at 32.84%, while Bonfiglioli Transmissions commands a premium of 30.38%. Zetwerk Manufacturing Business is at approximately 12.58%, followed by Sahajanand Medical Technologies at 11.92% and Fusion CX at 11.42%, based on the figures provided. Grey market premiums are unofficial indicators and may change. They, therefore, do not guarantee listing prices or listing gains.

HD Fire Protect’s Rs 712.13 crore IPO is entirely an offer for sale (OFS) of 2.63 crore shares. The issue, which opened on October 13, closes today, October 15. The company has fixed the price band at Rs 258 to Rs 271 per share, with a lot size of 55 shares and a minimum retail investment of Rs 14,905 at the upper price band. The IPO was subscribed 16.50 times by the end of the second day, with bids for 30.38 crore shares against 1.84 crore shares on offer, according to NSE data. The retail individual investor category was subscribed 11.33 times, while the non-institutional investor segment was subscribed 48.70 times. In the grey market, the shares were commanding a premium of Rs 89, or 32.84%, over the upper price band, indicating an estimated listing price of Rs 360 per share. The allotment is expected to be finalised on October 16, and the shares are scheduled to list on the NSE and BSE on October 21.

Fusion CX’s Rs 702 crore IPO comprises a fresh issue of 1.73 crore shares worth Rs 500 crore and an offer for sale of 69.90 lakh shares aggregating to Rs 202 crore. The issue opened on October 14 and will close on October 16. The price band has been set at Rs 275 to Rs 289 per share, while the lot size stands at 51 shares, translating into a minimum retail investment of Rs 14,739 at the upper price band. The IPO was subscribed 41% by the end of the first day of bidding, according to NSE data. Fusion CX shares were commanding a grey market premium of Rs 33, or 11.42%, over the upper price band, indicating an estimated listing price of Rs 322 per share. The allotment is expected to be finalised on October 19, with a tentative listing scheduled for October 22 on the NSE and BSE.

Tonbo Imaging India’s Rs 852.18 crore IPO is entirely an offer for sale of 1.22 crore shares. The issue opens for subscription today, October 15, and closes on October 19. The company has set the price band at Rs 665 to Rs 700 per share, with a lot size of 21 shares and a minimum retail investment of Rs 14,700 at the upper price band. Tonbo Imaging India leads the grey market premium rankings among the six issues, with its shares commanding a premium of Rs 500, or 71.43%, over the upper price band. This indicates an estimated listing price of Rs 1,200 per share. The allotment is expected to be finalised on October 21, while the shares are scheduled to list on the NSE and BSE on October 23.

Zetwerk Manufacturing Business is launching the largest IPO among the six offerings, with an issue size of Rs 5,012.33 crore. The issue comprises a fresh issuance of 18.75 crore shares aggregating to Rs 2,830 crore and an offer for sale of 14.45 crore shares worth Rs 2,182.33 crore. The IPO opens today, October 15, and closes on October 19. The price band has been fixed at Rs 143 to Rs 151 per share, with a lot size of 99 shares and a minimum retail investment of Rs 14,949 at the upper price band. Zetwerk shares were commanding a grey market premium of Rs 19 per share, or approximately 12.58%, over the upper price band, indicating an estimated listing price of Rs 170 per share. The allotment is expected to be finalised on October 21, with a tentative listing on the NSE and BSE on October 23.

Bonfiglioli Transmissions’ Rs 2,533.66 crore IPO is entirely an offer for sale of 4.32 crore shares. The issue opens today, October 15, and closes on October 19. The price band has been set at Rs 558 to Rs 586 per share, while the lot size is 25 shares, requiring a minimum retail investment of Rs 14,650 at the upper price band. The IPO is commanding a grey market premium of Rs 178 per share, or 30.38%, over the upper price band. Based on this premium, the estimated listing price works out to Rs 764 per share. The allotment is expected to be finalised on October 21, and the shares are scheduled to list on the NSE and BSE on October 23.

Sahajanand Medical Technologies’ Rs 475.48 crore IPO is entirely an offer for sale of 1.38 crore shares. The issue opens today, October 15, and closes on October 19. The company has fixed the price band at Rs 327 to Rs 344 per share, with a lot size of 43 shares and a minimum retail investment of Rs 14,792 at the upper price band. The shares were commanding a grey market premium of Rs 41 per share, or 11.92%, over the upper price band, indicating an estimated listing price of Rs 385 per share. The allotment is expected to be finalised on October 21, while the shares are scheduled to list on the NSE and BSE on October 23.