Navratra' period: 6 IPO's set to hit Indian stock market

Indian stock market , Six  Initial Public Offerings (IPOs) are hitting the current week.

Companies that are hitting the primary market to raise money
1. M & B Switchgears ( Rs.90 crore to Rs 93 crore)
2.  Taksheel Solutions (Rs 71.50 crore to Rs 82.50 crore)
3. Onelife Capital Advisors( Rs 33.50 crore to Rs 36.85 crore)
4.  Flexituff International (Rs 97.88 crore to Rs 104.63 crore)
5. Tijaria Polypipes (Rs 60 crore)
6. Swaraj Aircharters (Rs 37.50 crore).

Three other IPOs have already closed this month
1. RDB Rasayans (Rs32.40 crore)
2. Prakash Constrowell (Rs 60 crore)
3. PG Electroplast ( Rs 120.65 crore).

Navratra' period:

Current  2011 has been one of small primary market issues as bigger companies are not sure of positive response from investors.
While the time limit for market regulator SEBI approvals is ending this month, companies also prefer to launch IPOs during the `Navratra' period (from September 28 to October 6), which is considered an auspicious occasion. Navratra follows a fortnight of mourning period, called Shradh.

The MCX whose draft prospectus was approved by SEBI recently plans to hit the market in 2011, November to Rs 800 crore- 850 crore.

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