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Primary Market Action | Three IPOs to hit Dalal Street next week, two stocks to debut on bourses

Life Insurance Corporation of India will be closing its maiden public issue on May 9, followed by its share allotment by May 12. This is the biggest issue in the history of Indian capital markets raising Rs 21,000 crore.

May 06, 2022 / 09:38 AM IST
 
 
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Three initial public offerings (IPOs) will launch next week while two stocks debut in the early part of the period.

Life Insurance Corporation of India will be closing its maiden public issue on May 9, followed by its share allotment by May 12. This is the biggest issue in the history of Indian capital markets raising Rs 21,000 crore.

This is the first offer, subscribed 1.03 times till May 5, which will also remain open on weekend.

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The retail wealth management services company will open its IPO on May 10 and close it on May 12, with a price band of Rs 595-630 per share. Its anchor book will open for a day on May 9.

The issue of 85.49 lakh shares is entirely an offer for sale by Wagner, an affiliate of US-based private equity investor TA Associates, and Shirish Patel. The company has reserved shares worth Rs 6.5 crore for its employees.

Employees will get shares at a discount of Rs 59 per share to the final offer.

Investors can bid for a minimum of 23 shares and in multiples thereafter. Hence, the minimum application size for retail investors will be Rs 14,490 and the maximum would be Rs 1,88,370 for 13 lots.

Venus Pipes & Tubes

Venus Pipes and Tubes is the second public issue to get launched next week on May 11 and the bidding for the offer will continue till May 13. The bidding date for anchor book will be for a day before the issue opening.

The IPO comprises a fresh issue of 50.74 lakh shares by the stainless steel pipes and tubes manufacturer.

The company will utilise funds for financing capacity expansion, technological upgrade, cost optimization of operations and supporting facility and backward integration for manufacturing of hollow pipes.

The fresh issue money will also be used for long-term working capital requirements, and general corporate purposes.

Delhivery

Logistics services provider Delhivery will also open its IPO on May 11, with a price band of Rs 462-487 per share.

The offer will close on May 13, and the bidding for the anchor book will take place for a day before the issue opening.

The company is planning to raise Rs 5,235 crore through its offer that comprises a fresh issue of Rs 4,000 crore, and the rest is offer for sale by Deli CMF Pte Ltd, CA Swift Investments, SVF Doorbell (Cayman) Ltd, and Times Internet. Kapil Bharati, Mohit Tandon, and Suraj Saharan will also offload shares via offer for sale.

This offer included a reservation of shares worth Rs 20 crore for its employees who will get shares at a discount of Rs 25 per share to the final offer price.

Investors can bid for a minimum of 30 shares and in multiples thereafter. Hence, retail investors can invest a minimum of Rs 14,610 and maximumRs 1,89,930 for 13 lots.

The company will utilise fresh issue money for organic growth, and inorganic growth through acquisition and strategic initiatives, besides general corporate purposes.

Campus Activewear

India's largest sports and athleisure footwear brand Campus Activewear will list its shares on the BSE and NSE on May 9. The issue had received robust response from investors, getting subscribed 51.75 times during April 26-28.

Campus shares are available at a premium of Rs 75 per share or 25 percent over the final issue price for Rs 292 per share in the grey market, as per the IPO Watch data.

Generally investors track grey market premium to get an idea about the listing price of any stock. It is an unofficial platform wherein the trading starts in IPO shares with the announcement of the price band and continues till the listing of shares on the bourses.

Rainbow Children's Medicare

Multi-speciality paediatric and gynaecology hospital chain Rainbow Children's Medicare will make its debut on May 10. The offer received a decent response from investors, getting a subscription of 12.43 times during April 27-29.

Its shares traded at a 7 percent premium in the grey market over the final offer price of Rs 542 per share.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sunil Shankar Matkar
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