The Indian primary market continues its strong momentum from November into December, with three mainboard initial public offerings scheduled to launch on Wednesday, December 3. Despite some signs of investor fatigue noted by market experts, the upcoming IPOs of Meesho, Vidya Wires, and Aequs are generating significant interest among investors.
Meesho IPO: E-Commerce Giant Eyes Robust Listing
SoftBank-backed e-commerce platform Meesho aims to raise ₹5,421 crore through its public offering. The company has set a price band of ₹105-111 per share, valuing the firm at approximately ₹50,096 crore ($5.6 billion) at the upper end.
The Meesho IPO grey market premium currently stands at ₹42, indicating an estimated listing price of ₹153 per share - a substantial 37.84% premium to the upper price band. Over the last five trading sessions, the GMP has shown an upward trend, with the minimum at ₹33 and maximum reaching ₹42, suggesting strong investor appetite.
The public offering will remain open for subscription from December 3 to December 5, with anchor investor allocations scheduled for December 2.
Vidya Wires IPO: Manufacturing Player Enters Market
Vidya Wires, a manufacturer of winding and conductivity products, has priced its ₹300 crore IPO in the range of ₹48-52 per share. At the upper price limit, the company's valuation would exceed ₹1,100 crore.
The current grey market premium for Vidya Wires stands at ₹10, projecting a listing price of approximately ₹62 per share - representing a 19.23% gain over the IPO price. Market experts note that the GMP has been trending upward over the past four sessions, ranging between ₹8 and ₹10.
Similar to Meesho, the Vidya Wires IPO will be available for subscription from December 3 to December 5, with anchor investment allocations planned for December 2.
Aequs IPO: Aerospace & Consumer Goods Manufacturer
Contract manufacturing specialist Aequs, which serves both consumer durable goods and aerospace components sectors, has announced a ₹922 crore public offering. The company has fixed its price band at ₹118-124 per share.
At the upper price limit, Aequs would command a valuation exceeding ₹8,300 crore. The current grey market premium of ₹43.5 suggests an estimated listing price of ₹167.5 per share, translating to a 35.08% premium over the IPO price.
The Aequs IPO subscription window will open on December 3 and close on December 5, mirroring the schedule of the other two offerings. Anchor investor allocations are set for December 2.
Market Outlook and Investor Sentiment
The continued activity in the IPO market demonstrates sustained investor confidence despite emerging concerns about market fatigue. The strong grey market premiums across all three offerings indicate healthy demand, though experts caution that the overall optimism remains measured.
All three IPOs follow identical timelines, creating a concentrated period of primary market activity in the first week of December. Investors are closely monitoring these developments as they represent diverse sectors - e-commerce, manufacturing, and contract manufacturing - providing varied exposure opportunities.
The performance of these IPOs will be crucial in determining the trajectory of the primary market for the remainder of December and could set the tone for upcoming public offerings in the new year.
