Analysts said this flurry of activity reflects growing investor confidence and signals a vibrant capital-raising environment, underscoring India’s robust economic fundamentals.
Among the 13 new IPOs, 4 of them will be in the mainboard segment including the much awaited offer of Bajaj Housing Finance. Meanwhile, the SME segment will see about 9 new issues. Cumulatively, the total fundraising raised by companies next will be around Rs 8,644 crore.
Apart from the new launches, the Street will also see listings of 8 companies that tapped the public markets in the week gone by.
“The outlook for the Indian IPO market remains promising, with Pantomath Capital projecting that domestic companies could raise over Rs 1.50 lakh crore through IPOs in the next 12 months, signaling continued activity and strong investor interest ahead,” said Pantomath Capital Advisors.
Also Read: Bajaj Housing Finance raises Rs 1,758 crore from anchor investors including JP Morgan, Morgan Stanley ahead of IPO
Here’s what’s on the IPO front next week
Bajaj Housing Finance IPO (September 9 – September 11)
Bajaj Housing Finance, promoted by Bajaj Finance and Bajaj Finserv, will raise around Rs 6560 crore through the public offer, which is a combination of Rs 3560 crore worth fresh equity sale and an offer for sale (OFS) of Rs 3,000 crore.
The price band for the issue is fixed at Rs 66-70 per share.
About 50% of the offer is reserved for qualified institutional buyers (QIB), 15% for non-institutional investors and the rest 35% for retail investors.
Net proceeds from the public offer will be used for augmenting the company’s capital base to meet future business requirements of the company towards onward lending.
Kross Ltd IPO (September 9 – September 11)
The Rs 500 crore IPO of the Jamshedpur-based company comprises a fresh equity sale of up to Rs 250 crore and an offer for sale (OFS) up to Rs 250 crore by the promoter selling shareholders. Under the OFS, Sudhir Rai and Anita Rai will offload part stakes in the company.
The company has fixed a price band of Rs 228-240 per share, where investors can bid for 62 shares in one lot.
The company proposes to utilise the net proceeds towards funding capital expenditure requirements for purchase of machinery and equipment, repayment of debt, working capital requirements and other general corporate purposes.
Tolins Tyres IPO (September 9 – September 11)
Tolins Tyres offer comprises a fresh equity sale of Rs 200 crore and an offer for sale (OFS) of Rs 30 crore. Under the OFS, promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload part stakes in the company.
The price band for the issue is fixed at Rs 215-226 per share.
Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements, Rs 62 crore for repayment of debut. Further, about Rs 24 crore will be used for investment in the company’s subsidiary Tolin Rubbers for repaying its debt and supporting its working capital requirements.
PN Gadgil Jewellers IPO (September 10 – September 12)
PN Gadgil Jewellers, the second largest organised jewellery players in Maharashtra, priced its IPO in the range of Rs 456-480 a share.
The company’s IPO comprises a fresh equity issue of Rs 850 crore and an offer for sale of Rs 250 crore. Under the OFS, promoter SVG Business Trust will offload part equity.
The funds raised through the IPO are proposed to be utilised for the funding of expenditure towards setting-up of 12 new stores in Maharashtra, repayment of debt and other general corporate purposes.
SME segment
In the SME segment about 9 companies will launch their public offerings including Gajanand International, Share Samadhan, Shubhshree Biofuels, Trafiksol ITS Technologies, SPP Polymer, Innomet Advanced Materials, Excellent Wires and Envirotech Systems.
While the three-day IPOs of Gajanand International, Share Samadhan, Shubhshree Biofuels will open on September 9, Trafiksol ITS Technologies and SPP Polymer will open their public offers on September 10.
The issues of Innomet Advanced Materials and Excellent Wires will open for subscription on September 11 and close on September 13. Envirotech Systems, on the other hand, will launch its IPO on September 13.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)