IPO Rush: Nine Issues Worth Rs 6,500 Crore Set to Debut This Week
This week will also see three listings in the SME segment.
It's going to be a busy week for the Indian primary market as nine initial public offerings aggregating over Rs 6,500 crore hit the street starting May 6. The week will also see three listings in the small and medium enterprises, or SME, segment.
Three initial public offerings are scheduled to open in the mainboard segment and six in the SME space. Aadhar Housing Finance Ltd.'s Rs 3,000 crore public issue, set to open on Monday, will lead in terms of issue size, followed by Indegene Ltd. and TBO Tek Ltd.
Storage Technologies and Automation Ltd., Sai Swami Metals and Alloys Ltd., and Amkay Products Ltd., will debut on May 8, while Slone Infosystems Ltd. will hit the street on May 10.
Mainboard Issues
Aadhar Housing Finance
Aadhar Housing Finance Ltd. has set a price band in the range of Rs 300–315 per share for its Rs 3,000-crore initial public offering. The housing finance company's public offer will open for subscription on May 8 and close on May 10. The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale of Rs 2,000 crore.
Company promoter BCP Topco VII Pte Ltd., an affiliate of Blackstone Group Inc., will offload shares aggregating to up to Rs 2,000 crore.
Indegene
Indegene Ltd. has set the price band at Rs 430–452 per share for its Rs 1841.76 crore initial public offering.
The digital-first, commercialisation-focused company, which focuses exclusively on the global life sciences industry, will launch its initial public offering on May 6. The IPO will close on April 8, with bidding for anchor investors taking place on May 3.
The IPO consists of a mix of fresh issuance of equity shares worth Rs 760 crore and an offer-for-sale of 2.39 crore equity shares by the existing shareholders.
TBO Tek
TBO Tek Ltd.'s Rs 1,550.81 crore issue will be open for subscription on May 8. The travel distribution platform announced a price range of Rs 875–920 per equity share for the IPO.
The IPO consists of a fresh issue of equity shares aggregating Rs 400 crore and an offer-for-sale of up to 1.25 crore equity shares by certain shareholders.
SME Issues
Refractory Shapes
The initial public offering of Refractory Shapes Ltd. will open on May 6 in the SME segment. For the Rs 18.6 crore issue, the bricks manufacturer set a price band of Rs 27–31 per share.
Winsol Engineers
On May 6, the initial public offering of Winsol Engineers Ltd. worth Rs 23.36 crore will also open for subscription. The company that provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions has set the IPO price band at Rs 71–75 apiece.
Finelistings Technologies
Finelistings Technologies Ltd.'s Rs 13.53 crore public offering will open for subscription on May 7. The issue, with 11 lakh shares, is entirely new. The issue price of the offering is fixed at Rs 123 per share.
Silkflex Polymers (India)
On May 10, Silkflex Polymers (India) Ltd. will open its public offering worth Rs 18.11 crore. The company has a fixed price band of Rs 52 per share for the issue. The issue is entirely new, with 34.82 lakh shares.
TGIF Agribusiness
TGIF Agribusiness Ltd.'s initial public offering worth Rs 6.39 crore will open for traders and investors to subscribe to on May 8. The horticulture company set a price of Rs 93 per share for the issue. This will also be an entirely fresh issue of 6.88 lakh shares.
Energy-Mission Machineries (India)
Energy-Mission Machineries (India) Ltd.'s Rs 41.15 crore public offering will open for subscription on May 9 and close on May 13. The issue is entirely a fresh issue of 29.82 lakh shares in the price band of Rs 131–138 per share for the IPO.
