Six companies planning to hit IPO market by mid-August: Report

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Six companies are likely to be listed on the bourses next month, according to a report in The Economic Times.

Only eight companies have taken the IPO route in the first half of 2019, as against 24 in the same period last year. In 2017, 36 companies had raised Rs 67,200 crore through IPOs.

Sterling and Wilson Solar, ASK Investment Managers, Spandana Spoorthy Financial, Affle India, AGS Transact Technologies and Mazagon Dock Shipbuilders have been conducting roadshows and are planning their IPOs by mid-August, the report said.

Moneycontrol could not independently verify the story.

Sterling and Wilson Solar, Shapoorji Pallonji Group's solar power company, has already received approval from the Securities and Exchange Board of India (SEBI) for its Rs 4,500 crore public issue. The offer for sale (OFS) is likely to open at the end of July.

ASK Investment Managers plans to raise Rs 1,500 crore through the public offering.

State-run Mazagon Dock Shipbuilders, too, has received approval from the market regulator for its IPO. The company hopes to raise Rs 650 crore by the end of July, the report said.

The government has asked SEBI to raise the minimum public float to 35 percent from the current 25 percent.