After a quiet period for last couple of weeks, the action is set to be back in the primary market as investors will see five new initial public offerings (IPOs) for subscription this week starting from October 27.
This includes the IPO of Norway parent-backed Orkla India, the owner of spices and convenience foods brands MTR Foods, Eastern Condiments, and Rasoi Magic, which will open for bidding during October 29-31. The price band for the offer has been fixed at Rs 695-730 per share.
The Bengaluru-based company, which is seeking valuation of Rs 10,000 crore, is raising Rs 1,667.5 crore via IPO which comprises of entirely offer-for-sale of 2.28 crore shares by promoter Orkla Asia Pacific, and public shareholders Navas Meeran and Feroz Meeran. This means the issue proceeds will be received by these selling shareholders.
This follows helmet maker Studds Accessories and eyewear company Lenskart Solutions IPOs, which will open for subscription during October 30-November 3 and October 31-November 4, respectively.
The initial public offering (IPO) of Studds consists of entirely offer-for-sale of 77.86 lakh shares by promoters and other selling shareholders, while Lenskart will be issuing fresh shares worth Rs 2,150 crore and its promoters and investors will be selling 12.75 crore equity shares via offer-for-sale.
Lenskart's IPO size could be around Rs 7,278.01 crore on an expected valuation of Rs 72,719.26 crore if the issue price gets announced at Rs 402 per share, at which Radhakishan Damani recently bought 0.13 percent of pre-offer paid-up equity stake in the company.
Other two public issues - Jayesh Logistics, and Game Changers Texfab - will be from the SME segment.
Logistics solutions provider Jayesh Logistics will be the first amongst them launching IPO on October 27 and closing on October 29. It aims to raise Rs 28.63 crore via public issue of 23.47 lakh shares, which consists of solely fresh issue.
It has fixed price band for the offer at Rs 116-122 per share.
The little more than Rs 100-crore worth Jayesh Logistics intends to spend IPO funds for purchase of side wall trailers, working capital requirements, implementation for phase 2 of Smart Logistics Application, and general corporate purpose.
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This follows the IPO of Game Changers Texfab that supplies fabrics to garment manufacturers, designers, and export houses. The Rs 55-crore maiden public issue will open for subscription during October 28-30 with price band of Rs 96-102 per share.
The initial share sale comprises of entirely fresh issue of 53.76 lakh shares with no offer-for-sale component.
The New Delhi-based fabrics supplier will utilise IPO proceeds for its capital expenditure, working capital requirements, and general corporate purposes.
Apart from these five new IPOs, the October month, so far, has seen 10 IPOs including seven worth Rs 35,791-crore from the mainboard segment. This included big names like Tata Capital (Rs 15,512 crore), and LG Electronics (Rs 11,607 crore).
Including the above five new IPOs, the total fund raising is expected to cross Rs 45,000 crore in current month via 15 IPOs.
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