The primary market is set to remain busy in the last week of the current calendar year, with two public issues opening for subscription, along with two listings.
The public issue of Radiant Cash Management Services will remain open in the coming week too, till December 27. The offer was launched on December 23.
The retail cash management services provider aims to mobilise Rs 388 crore via a public issue of 3.91 crore equity shares at the upper end of the price band of Rs 94-99 per share. The IPO comprises a fresh issuance of shares worth Rs 60 crore, and an offer-for-sale (OFS) of Rs 328 crore by the promoter and investor.
The offer has been subscribed 4 percent till now, with the retail portion being booked 6 percent and qualified institutional buyers (QIBs) 5 percent.
Sah Polymers will be the last initial public offering (IPO) for the current calendar year, opening on December 30 and closing on January 4.
The price band will be declared by the bulk packaging solutions provider on the coming Monday.
Sah Polymers’ IPO consisting of 1.02 crore shares is entirely a fresh issue. The company has reserved 75 percent of the offer for QIBs, 15 percent for high networth individuals (HNIs), and the remaining 10 percent for retail investors.
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The company plans to make use of the proceeds of the fresh issue to set up a new manufacturing facility for flexible intermediate bulk containers (FIBC), repaying debt, working capital requirements, and general corporate purposes.
Listings
Technology-driven financial services platform KFin Technologies will make its debut on on the markets on December 29 as per its schedule, after closing the Rs 1,500-crore public offer on December 21 with 2.59 times subscription.
The company will finalise its share allotment on December 26, followed by refunds to unsuccessful investors on December 27, and transfer of shares to eligible investors on December 28.
Electronics manufacturing services provider Elin Electronics will also list shares next week ? on December 30. The Rs 475-crore public offer closed with 3.09 times subscription on December 22.
The IPO share allotment by Elin will take place on December 27. The company will initiate refunds to unsuccessful participants by December 28, while shares will be credited to eligible investors by December 29.
The year 2022 has been great for the primary market as investors saw more than Rs 60,000 crore worth of 40 IPOs being successfully closed despite huge volatility in the secondary markets.
But these numbers are lower compared to 2021, when a total 65 public issues were launched raising Rs 1.31 lakh crore -- a record fund-raising in a single year.
Also read: IPOs to watch out for in 2023 | Swiggy, Fabindia & OYO may check in to Dalal Street
Going ahead, around 50 companies have received SEBI observations for their IPOs, which could see the light of day in calendar year 2023. These companies include Yatra Online, Fab India, Wellness Forever, Signature Global, Balaji Speciality Chemicals, Utkarsha Small Finance Bank, Pizza Wires, Droom Technology, Navi Technologies, PKH Ventures, Bharat EIH, Macleods Pharma, Aadhar Housing Finance, TVS Supply Chain Solutions, Allied Blenders and Distillers, Divgi Torqtransfer Systems, and IKIO Lighting, among others.
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