At least three companies will launch their initial public offerings (IPOs) and two others will make their market debut towards the end of the week, making it one of the busiest weeks in months for public listings on Dalal Street after a long hiatus. Last week also, three public offers were launched - Chemcon Speciality Chemicals, Computer Age Management Services and Angel Broking.
UTI Asset Management Company, the biggest IPO of this week, is going to open for subscription on September 29 with a price band of Rs 552-554 per share. The issue consists of an offer for sale of 3,89,87,081 equity shares by State Bank of India, LIC of India, Bank of Baroda, Punjab National Bank and T Rowe Price International.
The AMC is expected to garner Rs 2,160 crore, at higher price band, via IPO. The bidding of its anchor book portion will open for a day on September 28 and the issue will close on October 1.
Mazagon Dock Shipbuilders
Mumbai-headquartered Mazagon Dock Shipbuilders, a defence public sector undertaking shipyard, will also launch its maiden public issue on during September 29-October 1, with a price band of Rs 135-145 per share.
The issue consists of an offer for sale of 3,05,99,017 equity shares by the government and the company aims to raise nearly Rs 444 crore at higher price band. All the money will go to selling shareholder, i.e. the government, which is going to divest little over 15 percent via this public issue.
Oil & gas pipeline infrastructure service provider Likhitha Infrastructure is the third IPO going to open for subscription on same day. i.e. September 30 and will also close on October 1. It is a small issue with a size of Rs 61.2 crore at a higher end of price band of Rs 117-120 per share.
Listings this week
Chemcon Speciality Chemicals and Computer Age Management Services (CAMS) after strong IPO subscriptions will debut on bourses on October 1. The final issue price has been fixed at Rs 340 per share and Rs 1,230 per share, respectively.
Both are expected to be strong listings, experts feel, as currently, in the grey market, both are trading with a massive premium of around Rs 380-400 per share over their final issue price.
Investors, who have applied for the issue, can check their allotment status for Chemcon as well as CAMS IPOs by end of day on September 28, either on the BSE website or registrar Link Intime's website.
The Rs 318-crore IPO of Chemcon Speciality Chemicals, the speciality chemicals maker for pharmaceutical and oilfields industries, was subscribed 149.3 times, while the Rs 2,244-crore public issue of CAMS, the financial infrastructure and services provider to mutual funds and other financial institutions, witnessed 47 times subscription.So far, the IPO season has been strong, especially after the dry spell of three months following the SBI Card IPO. After the unlock, Rossari Biotech kicked off the IPO season followed by Mindspace Business Parks REIT, Route Mobile, Happiest Minds Technologies, Chemcon Speciality Chemicals, CAMS, Angel Broking, UTI AMC, Mazagon Dock Shipbuilders and Likhitha Infrastructure.