The Indian primary market is expected to see continued action as eleven companies are set to launch public issues worth over Rs 23,800 crores. Companies like GR Infraprojects, Clean Science Technology, and Utkarsh Small Finance Bank are expected to list on Dalal Street this month.
Indian companies have raised Rs 27,417 crore by way of IPOs (Initial Public Offerings) so far this year, which is the highest in at least a decade in contrast with six months of previous years.
The euphoria was driven by the profusion of liquidity and investor frenzy. Venture capital (VC) and private equity (PE) funds capitalised on the buoyant stock markets to pull out their investments.
Out of the total money raised via IPOs, promoters and investors raised approx. 62.5% or Rs 17,140 crore through offer-for-sale (OFS), data compiled by primary market tracker Prime Database showed, the Mint reported. The remaining 37.5% or Rs 10,278 crore were raised as fresh capital by the companies.
Here’s the list of companies that are lined up to bring their issues in July:
GR Infraprojects: The IPO worth Rs 963 crore will open for subscription on July 7 and conclude on July 9. Bidding for anchor investors will open on July 6, according to the company. The price band has been fixed at Rs 828-837 per share. The issue will be a complete offer for sale (OFS) of 1,15,08,704 equity shares by promoter and shareholders.
Clean Science Technology: The Rs 1,546.62 crore IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders. It will open for subscription on July 7 and the price band has been fixed at Rs 880-890 per share. Clean Science Technology manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals.
Glenmark Life Sciences: The company has got approval from the Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering. The IPO consists of a fresh issue of up to Rs 1,160 crore and an offer for sale of up to 73,05,245 equity shares.
Utkarsh Small Finance Bank: The initial public offer (IPO) of Utkarsh Small Finance Bank comprises fresh issue of equity shares worth Rs 750 crore and an offer for sale to the tune of Rs 600 crore by promoter Utkarsh Coreinvest Ltd, according to draft red herring prospectus (DRHP). Utkarsh began operations as a small finance bank in 2017, transiting from a microfinance lender since 2009.
Arohan Financial Services: According to an Economic Times report, the IPO of Kolkata-based microfinance lender Arohan Financial Services may come into the market this month. The company plans to raise between Rs 1,750-1,800 crore.
Ami Organics: Specialty chemicals maker has filed preliminary papers with capital markets regulator SEBI to float an initial share-sale. The IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 6,059,600 shares by the promoter and existing shareholders, according to the draft red herring prospectus (DRHP).
Seven Islands Shipping: The company got Sebi’s go-ahead to raise Rs 600 crore through an initial share sale in April. The public issue comprises a fundraise via fresh issue amounting to Rs 400 crore, and an offer for sale aggregating up to Rs 200 crore, according to the draft red herring prospectus filed with Sebi.
Shriram Properties: In April, the company filed the Draft Red Herring Prospectus (DRHP) to raise up to Rs 800 crore through an Initial Public Offer (IPO). According to sources, Shriram Properties plans to hit the capital market by the end of July or early August. As per the DRHP, the company proposes to raise up to Rs 800 crore through the IPO, comprising Rs 250 crore through fresh issue of equity shares and Rs 550 crore through offer for sale.
Nuvoco Vistas Corp: The issue will comprise of a fresh issue worth Rs 5,000 crore and an offer for sale of Rs 3,500 crore by its promoter entity Niyogi Enterprise Pvt. Ltd. The company plans to raise Rs 5,000 crore through the IPO.
Aadhar Housing Finance: In January, the company filed preliminary papers with markets regulator SEBI to raise Rs 7,300 crore through an initial public offering. The IPO comprises fresh issuance of shares worth Rs 1,500 crore and an offer of sale of up to Rs 5,800 crore by the
Vijaya Diagnostics: In June, the company filed preliminary papers with capital markets regulator SEBI to float an initial share-sale. According to its draft red herring prospectus, the IPO will be an offer for sale of 35,688,064 equity shares by the promoters, Dr S Surendranath Reddy and investors Karakoram, and Kedaara Capital Alternative Investment Fund.
Please note, this is a tentative list and subject to modification as the information has not been updated on the exchanges.