Initial public offerings of Juniper Hotels Ltd. and GPT Healthcare Ltd. are set to open next week, with an aim to raise over Rs 2,000 crore collectively. Three small and medium enterprise IPOs—Zenith Drugs Ltd., Deem Roll Tech Ltd., and Sadhav Shipping Ltd.—will also be entering the primary market.
Amidst the new IPOs, Vibhor Steel Tubes Ltd. is expected to list on exchanges on Tuesday, that is, Feb. 20. The IPO was entirely a fresh issue worth Rs 72.17 crore. The public issue was subscribed to 298.86 times on its final day.
Non-institutional investors led demand with 721.34 times the subscription. The retail basket was subscribed to 188.17 times, whereas QIBs placed bids for 178.73 times the shares reserved for them. Eligible employees oversubscribed their portion by 201.48 times. The company had raised Rs 21.52 crore from the anchor investors.
Juniper Hotels IPO
The Juniper Hotels IPO will open for subscription on Feb. 21 and close on Feb. 23. The IPO is an entirely fresh issue of Rs 1,800 crore, with the price band set in the range of Rs 342 to 360 per share.
Net proceeds from the issue will be used to repay certain outstanding borrowings availed by the company and its recent acquisitions—Chartered Hotels Pvt. and Chartered Hampi Hotels Pvt.
GPT Healthcare IPO
The GPT Healthcare IPO will continue from Feb. 22 to Feb. 26. The IPO includes a fresh issue worth Rs 40 crore and an offer-for-sale of 2.6 crore equity shares. The price band for the IPO is yet to be announced by the company.
The healthcare provider will use the funds to repay a portion of certain outstanding borrowings by the company from banks and financial institutions.
Zenith Drugs IPO
Zenith Drugs will launch its IPO on Feb. 19, which will continue until Feb. 22. The SME IPO is entirely a fresh issue of more than 51.48 crore equity shares. The price band set for the IPO is Rs 75 apiece to Rs 79 per share.
The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,26,400. The company has raised Rs 40.68 crore from anchor investors.
Net proceeds from the IPO will be used to purchase machinery and equipment for a new unit, upgrade the existing manufacturing block, meet working capital requirements, and for general corporate purposes.
Deem Roll Tech IPO
Deem Roll Tech will open its maiden share sale for subscriptions on Feb. 20 and close on Feb. 22. The SME IPO is entirely a fresh issue of Rs 29.26 crore. The IPO price is Rs 129 per share.
The minimum lot size for an application is 1,000 shares. The minimum amount of investment required by retail investors is Rs 1.29 lakh. The net proceeds from the issue will be used to fund capital expenditure towards the expansion of its existing manufacturing facility in Gujarat, to fund its working capital requirements, and for general corporate purposes.
Sadhav Shipping IPO
The SME IPO Sadhav Shipping will open for subscription on Feb. 23 and close on Feb. 27. The IPO is entirely a fresh issue of Rs 38.18 crore. The price set for the IPO is Rs 95 per share.
The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1.14 lakh. The net proceeds from the issue will be used to repay certain outstanding borrowings availed by the company, fund capital expenditures to acquire additional vessels, meet additional working capital requirements, and for general corporate purposes.
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