The IPO are back to hit the primary market by next week with three companies i.e. Shyam Metalics, Sona Comstar and Navoday Enterprises. As these three IPOs will launch on June 14.
The last IPO was from Microtech Developers it raised Rs2,500cr in early April. But in the last two months, not a single IPO was launched except an InvIT from Power-Grid Infrastructure, raising about Rs7,735cr.
Let’s have a look at these three IPOs that are getting investors excited and optimistic.
Shyam Metalics and Energy Limited:
Shyam Metalics & Energy will launch its IPO on June 14 at a price band of Rs303-306 per share. The IPO will close the Bid/Offer period on Wednesday, June 16, 2021.
The total issue size is upto Rs909cr with a fresh issuance of Equity Shares, aggregating up to Rs657cr and an offer for sale of Equity Shares aggregating up to Rs252cr, by the Selling Shareholders. The Company proposes to utilise the Net Proceeds from the Fresh Issue towards repayment or prepayment of up to Rs470cr of its debt and that of its subsidiary, Shyam SEL and Power Limited and for other general corporate purposes.
It will open for a day on June 11 for anchor investors. Investors can put minimum bids for 45 equity shares and in multiples of 45 equity shares thereafter.
ICICI Securities Limited, JM Financial Limited, Axis Capital Limited, IIFL Securities Limited and SBI Capital Markets Limited are the BRLMS to the Offer.
Navoday Enterprises Ltd:
Navoday Enterprises Ltd, a marketing and event management company, is set to open its initial public offering on June 14 and the and the issue will close on June 17.
The company set a price band fixed at Rs20 apiece.
Inventure Merchant Banker and Sattlite Corporate Service are the lead managers to the issue.
The company said that 1.2 million shares of Rs24 lakh will be reserved for market makers and rest of the Rs43.68cr will be called a net issue.
Automotive Supplier Sona Comstar IPO will remain open between June 14 to June 16, and anchor investors will be allotted shares on Friday.
The company will launch its Rs5,550cr initial public offer (IPO) next week and it has priced the offer at Rs285-291 per share.
The issue consists of a fresh sale of Rs300cr and an offer for sale (OFS) worth Rs5,250cr, of shares held by Singapore Topco, an affiliate of the Blackstone group. Singapore Topco’s current holding stands at 66.2% of the pre-offer paid-up equity capital of the company.
Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, JM Financial Limited, J.P. Morgan India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited are the BRLMs to the Offer.
The company is a leading supplier to the fast-growing global Electric Vehicle (EV) markets and derived 13.8% revenue from the Battery EV market and 26.7% from the Micro Hybrid / Hybrid market in FY21. Its global market shares of BEV differential assemblies in the calendar year 2020 was 8.7%.
Further, few companies are also ahead to open their IPO and they are KIMS Hospitals, Dodla Dairy and India Pesticides and they are also planning to raise Rs800cr each through IPOs in the coming next 2-3 weeks. Clean Science & Technology is likely to launch its maiden Rs1,500cr IPO in the first week of July.
Similarly, Seven Iceland Shipping, Arohan Financial Services, Rolex Rings, Glenmark Life Sciences and Utkarsh Small Finance Bank received Sebi approvals to float IPOs.
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( With inputs from indiainfoline)