These companies and their shareholders will look to raise up to Rs 3,614 crore. The initial public offer of Windlas Biotech, Devyani International, Krsnaa Diagnostics and Exxaro Tiles will open on August 4, Wednesday. All issues will close on Friday, August 6.
Analysts and traders expect the issues to
through given the demand for fresh issues in the market. The grey market premium has also jumped for some of the upcoming issues.As many as 12 firms have raised a staggering Rs 27,000 crore through IPO route in the first four months of the ongoing fiscal. Even beyond this week, the pipeline is pretty strong for other issues during the month.
Windlas Biotech: The price band for the same has been fixed at Rs 448-460 per share with a face value of Rs 5 each. Dehradun-based Windlas Biotech is one of the top companies in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) in India. Windlas Biotech and shareholders will raise a total Rs 402 crore through the issuance of fresh equity shares and offer-for-sale (OFS), respectively. Investors can bid for a minimum of 30 equity shares and in multiples of 30 shares thereafter.
The net proceeds from the fresh equity issue will be utilised for purchase of equipment required for capacity expansion of the existing facility, repaying of certain borrowings and working capital requirements.
Devyani International: The quick service restaurant operator has fixed the price band for its forthcoming IPO at Rs 86-90 range. On the block is a fresh issue of shares aggregating Rs 440 crore and an offer for sale (OFS) of up to 15.53 crore shares. The company will raise a total Rs 1,838 crore. Apart from operating Pizza Hut, KFC and Costa Coffee, the company also owns brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar
Devyani claims to be the single largest quick-service restaurant (QSR) company in India to be listed on Swiggy and was among the largest QSR companies in India to be listed on the Zomato platform in 2019 and 2020.
In the grey market, shares of the company are trading at a premium of Rs 54-56 per share, i.e., 62 per cent above the upper band of the issue price, said Dinesh Gupta of UnlistedZone.
Krsnaa Diagnostics: The price band of the IPO of Krsnaa Diagnostics has been fixed at Rs 933-954 per share, as per reports. The public issue comprises a fresh issue of Rs 400 crore and an offer for sale of up to 85,25,520 equity shares by existing selling shareholders. They will raise a total Rs 1213 crore from investors. The offer includes a reservation of Rs 20 crore worth of shares for employees, who will get a discount of Rs 93 per share.
The company will utilise net proceeds of the fresh issue for establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra; repaying of debts; and general corporate purposes.
In the grey market, shares of the company are trading at a premium of Rs 410-420 per share, i.e., 44 per cent above the upper band of the issue price, said Gupta.
Exxaro Tiles: The price band for the offer has been decided at Rs 118-120 per equity share. Under the IPO, the company will issue 111,86,000 equity shares and one of its shareholders will sell 2,238,000 shares, raising a total Rs 161 crore. The company proposes to utilize the net proceeds from the fresh issue towards payment of borrowings and funding its working capital requirements besides utilizing it for general corporate purposes.
Interestingly, most of the shares are reserved for HNI and retail investors. Those who wish to apply for the IPO can do so in a lot of 125 shares, meaning maximum application size of Rs 15,000. The issue is priced at PE multiple of 16.43 as of FY21 earnings.
4 IPOs to keep market buzzing this week; to raise Rs 3,600 crore - Economic Times
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