The IPO frenzy on Dalal Street is set to heighten this week with fi ve issues hitting the market. With the broader market sentiment remaining buoyant and experts seeing the Nifty above 15,500 in April, investors are lining up to get their share of the IPOs for the listing pop. Nazara Technologies, backed by investor Rakesh Jhunjhunwala, is the top pick of analysts because of its distinction of being the first mobile gaming company to list in India. Laxmi Organic is likely to garner more interest than Anupam Rasayan, and Kalyan Jewellers is being recommended for risk-takers given its expensive pricing, said analysts. Suryoday Small Finance Bank is a better play for long-term portfolio and Nazara could be good for listing gains, said Geetanjali Kedia, senior analyst at SPTulsian.com. ET takes a look at which IPO is likely to bring more cheer to investors.Nazara TechnologiesIPO Size: Rs 582.91 crorePrice Band: Rs 1,100-1,101IPO Open/Close: March 17/19Nazara Technologies, a gaming and sports media platform, is garnering the biggest buzz on Dalal Street as it is backed by Rakesh Jhunjhunwala. A common talking point in the market is that Jhunjhunwala, who owns 10.82 per cent in Nazara, is not looking to sell his stake. “Nazara is one IPO which could see a lot of interest owing to its novelty factor and for being one of its kind in the listed space, though difficult to justify valuations by traditional valuation methods. Online gaming and entertainment is definitely something which has got a lot of eyeballs during the last one year of pandemic and has a lot of potential to evolve into gamified education also,” said Aniruddha Sarkar, CIO, Quest Investment Advisors. With grey market premium of around Rs 850, the stock is expected to see a bumper listing.Anupam RasayanIPO Size: Rs 760 crorePrice Band: Rs 553-555IPO Open/Close: March 12/16At a grey market premium of Rs 170-180, Anupam Rasayan is likely to see listing gains of 31- 32 per cent if the issue price is fixed at the upper-end of the price band. The issue will close on Tuesday. Choice Broking has advised subscribing to the IPO for the long term and Angel Broking recommends subscribe. Strong interest in the specialty chemicals space is expected to aid the IPO’s prospects but some in the market sounded out caution. “Anupam Rasayan is not convincing at 40 times PE on one-year forward earnings, given high price risk and poor working capital management,” said Kedia. Angel Broking and Choice Broking have recommended a ‘subscribe’ to the issueLaxmi OrganicIPO Size: Rs 600 crorePrice Band: Rs 129-130IPO Open/Close: March 15/17Experts see speciality chemicals manufacturer Laxmi Organic as a better money making opportunity than Anupam Rasayan. “Considering the appetite among investors to have sizeable allocation to quality chemical and specialty chemical businesses, we should see good interest in Laxmi Organic and Anupam Rasayan,” said Sarkar. “However, valuations look a bit stretched currently for Anupam Rasayan and we could see good appetite for Laxmi Organic,” said Quest Investment’s Sarkar. Laxmi Organic has a grey market premium of Rs 97-100. Angel Broking and Anand Rathi have a ‘subscribe’ rating on the issue.Craftsman AutomationIPO Size: Rs 824 crorePrice Band: Rs 1,488-1,490IPO Open/Close: March 15/17The auto component maker Craftsman on Friday raised a little over Rs 247 crore from anchor investors. Canara Bank Securities, Ventura Securities and LKP Securities have a ‘subscribe’ rating on the issue. “Visibility of topline growth, competitive edge, superior profitability as compared to its peers, prudent cost management, return ratios, wide clientele spread across the globe, sound R&D base and technological progress… we recommend investors to subscribe to this IPO,” said LKP SecuritiesKalyan JewellersIPO Size: Rs 1,175 crorePrice Band: Rs 86-87IPO Open/Close: March 16/18Analysts recommend subscribing to the jewellery chain’s IPO for listing gains. The grey market premium for Kalyan Jewellers was Rs 7-8 per share over the weekend. “The offer price is at a negative P/E based on the latest financial data. However, based on FY20 earnings, the issue is priced at a PE of 63.04,” said independent advisor Ambareesh Baliga. Its listed peer Titan is trading at a higher P/E ratio of 187 times, but analysts said the Tata group scores above all its counterparts in terms of profitability and returns ratios. Analysts said its P/E is negative because of the losses it incurred due to the Covid-19 pandemic. The IPO comprises fresh issue of Rs 800 crore and an offer for sale (OFS) of Rs 375 crore. In the issue, 35 per cent has been reserved for retail investors. Some analysts said investor appetite for most listed jewellery companies has been low. “Investor interest has generally been low for Jewellery companies and I don’t think it would be any different for Kalyan Jewellers as well,” said Sarkar. Suryoday Small Finance BankIPO Size : Rs 582 crorePrice Band: Rs 303-305IPO Open/Close: March 17/19Grey market premium of Suryoday Small Finance Bank is around Rs 33. Sarkar of Quest Investment Advisors said Suryoday Small Finance Bank would be interesting from a longterm perspective as it is one of the better-managed SFBs having good track record and steady execution. LKP has recommended subscribing to the issue. Independent market advisor Baliga said investors can skip the IPO as 11.5 per cent of total equity is pledged by one of the promoters, Baskar Babu Ramachandra, and 75 per cent of its total book is unsecured. Baliga also said CASA is low at 13.22 per cent.