IPO Rush: Three New Issues, 11 Listings To Hit Street This Week
On the listing front, the week will see two companies debut on the national bourses, while nine companies will list from the SME space.
The primary market will continue to see buzzing action this week with increased participation from both companies and investors. The week starting July 1 will see three initial public offerings, with two under the mainboard segment.
The public offerings of Emcure Pharmaceuticals Ltd., and Bansal Wire Industries Ltd. will open for subscription on July 3. In the small and medium enterprise space, investors can begin bidding for Ambey Laboratories Ltd.'s issue on July 4.
Emcure Pharma has set a price band of Rs 960–1,008 per share as the Pune-based pharmaceutical company seeks to raise up to Rs 1,952 crore. The IPO will consist of a fresh issue of Rs 800 crore and an offer for sale of 1.14 lakh crore equity shares.
Among the selling shareholders in the offer for sale is BC Investments IV Ltd., an affiliate of US-based private equity major Bain Capital, that will offload 72.34 lakh shares.
Bansal Wire Industries' public offering consists of a fresh issue with no OFS component. The price band for the Rs 745-crore IPO has been set at Rs 243–256 apiece. The company will use the funds for debt repayment, working capital requirements and general corporate purposes.
The week will see two companies debut on the bourses, while another nine companies will list from the SME space. The mainboard IPOs of Vraj Iron & Steel Ltd. and Allied Blenders & Distillers Ltd. were subscribed 119.04 times and 23.55 times on their final day of subscription.
Vraj Iron approximately offloaded 82.6 lakh shares, valued at Rs 171 crore on the upper price band of the issue.
Meanwhile, Allied Blenders, the maker of Officer's Choice whisky raised Rs 1,500 crore in the primary market through an offer for sale totalling Rs 500 crore and a fresh issue of shares worth Rs 1,000 crore.
