The primary market will remain active this week, as we will have four IPOs hitting Dalal Street with one on the main board and three in the SME segment.
Gujarat-based healthcare services provider Aatmaj Healthcare will be the
first initial public offering opening on June 19. It is a fixed-price issue.
The company is planning to raise Rs 38.40 crore by issuing 64 lakh shares at a price of Rs 60 per share. The offer will close on June 21 and list on the NSE Emerge on June 30.
Aatmaj operates its hospitals under the name Jupiter Hospitals, providing inpatient and outpatient healthcare services through hospitals at Vadodara, Gujarat with an aggregate bed capacity of 130 beds extendable upto 175 beds.
The IPO funds will be utilised for repaying debts, and acquisitions and other strategic initiatives. The company will also purchase medical equipment, and fulfill its working capital requirements via public issue money, besides general corporate expenses and issue expenses.
The second IPO would be HMA Agro Industries, in the mainboard segment, opening for subscription on June 20 with a price band of Rs 555-585 per share.
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The company intends to garner Rs 480 crore via its maiden public issue, at an upper price band, comprising fresh issuance of Rs 150 crore, and an offer for sale of Rs 330 crore by promoters, which means nearly 70 percent of the money from the offer is going to promoters.
The company earns more than 97 percent of its business from frozen buffalo meat and its by-products as per the financials of nine-month ending December 2022. It claimed to be one of the largest exporters of frozen buffalo meat products from India, exporting to more than 40 countries across the globe.
HMA, which has borrowings of Rs 340 crore as of December 2022, will be utilising fresh issue proceeds for working capital requirements, besides general corporate purposes. The offer will close on June 23 and the listing on the BSE & NSE will take place on July 4.
Veefin Solutions would be the third IPO this week. The bidding for the BSE SME IPO will start on June 22 and will continue till June 26.
The digital lending and supply chain finance technology product solutions company aims to raise Rs 46.7 crore through its IPO which comprises a fresh issue and an offer for sale of Rs 23.37 crore each, at a price of Rs 82 per share.
The net proceeds from the fresh issue will be utilised for global sales and marketing expenditure, and developing new products or enhancement and maintenance, upgrading or updating existing products, besides general corporate purposes.
The last IPO getting launched in the coming week would be Essen Speciality Films, the specialized plastic products manufacturer for the home improvement and home furnishing industry.
The initial public offering will open for subscription during June 23-June 27, with a price band of Rs 101-107 per share. The total fundraising would be more than Rs 66 crore comprising a fresh issue of 46.99 lakh shares, and an offer for sale of 15 lakh shares.
The debt repayment and working capital requirements are the main objectives of its fresh issue, besides general corporate purposes.
Essen Speciality Films will list its shares on the NSE Emerge.
These four companies will be raising over Rs 630 crore via their public issues this week.
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