The Indian Initial Public Offerings (IPOs) market is set to witness an action packed week with 11 main-board companies set to go public.
The key names included in the list of upcoing IPOs are Rentomojo, Karamtara Engineering and Kanohar Electricals, who are collectively set to raise Rs 7,055 crore.
At the primary market, the key companies from various sectors who are set to hit the Dalal Street include real estate developers, engineering and manufacturing firms, a payments and identity solutions provider, a specialty chemicals manufacturer and an online rental platform.
The IPOs are scheduled to hit the market between September 7 and September 15. Most of the issues opening for subscription on Tuesday and Wednesday.
Out of the Rs 7,055 crore, nearly 39 per cent which is Rs 2,722 crore is primary capital issuance, where funds go into the company, while the 61 per cent or Rs 4,333 crore is a secondary sale by existing shareholders.
Pranav Constructions will to open its IPO for public subscription on September 7 with the over Rs 351-crore issue will close on September 9. Pranav Constructions has fixed a price band of Rs 118-124 per share for its IPO.
This comprises of a fresh issue of Rs 315.6 crore and an OFS of 28.57 lakh shares worth Rs 35.43 crore.
Kanohar Electricals, Prasol Chemicals and Glass Wall Systems (India), which will open their IPOs on September 8.
Kanohar Electricals has fixed a price band of Rs 601-632 per share for its Rs 1,056-crore IPO.
Prasol Chemicals has fixed a price band of Rs 643-676 per share for its Rs 500-crore IPO, comprising a fresh issue of Rs 80 crore and an OFS of up to Rs 420 crore while the Glass Wall Systems (India) has fixed a price band of Rs 172-182 per share for its Rs 428-crore IPO.
Other Key IPOs:
On September 9, the key names to be added in the IPO list include Rentomojo, Manipal Payment and Identity Solutions, Arcil, LCC Projects, Karamtara Engineering and Steamhouse India. Further, Veegaland Developers will open its IPO on September 10.
Rentomojo has fixed a price band of Rs 384-404 per equity share for its Rs 1,256-crore IPO comprising a fresh issue of shares worth up to Rs 150 crore and an OFS of 2.73 crore shares valued at Rs 1,106 crore at the upper end of the price band.
Karamtara Engineering’s Rs 875-crore IPO comprises a fresh issue of Rs 675 crore and an OFS of shares worth up to Rs 200 crore. The price band is Rs 241-254 per share.
Manipal Payment and Identity Solutions has fixed a price band of Rs 322-339 per share for its Rs 805-crore IPO. The issue comprises a fresh issue of Rs 320 crore and an OFS of up to 1.43 crore shares worth Rs 485 crore.
Arcil has fixed a price band of Rs 132-139 per share for its Rs 733-crore IPO, which is entirely an OFS. Since there is no fresh issue, Arcil will not receive any proceeds from the offering.
(With inputs from agency)
