The primary market is looking at yet another busy week, with five initial public offerings (IPOs), three of them from small and medium enterprises (SMEs), opening for subscription, even as two companies make their market debut.
Non-banking finance company SBFC Finance, which is looking to raise Rs 1,025 crore, will be the first mainboard offering of the week, with bidding opening on August 3.
The IPO comprises a fresh issuance of shares worth Rs 600 crore and an offer for sale of Rs 425 crore by promoters.
The price band for the offer, which closes August 7, has been fixed at Rs 54-57 a share. The anchor book will open for a day on August 2.
The fresh issue proceeds will be used for augmenting the capital base to meet requirements arising out of the growth of business and assets, the company has said.
SBFC Finance IPO will be followed by that of biopharma company Concord Biotech. Backed by late ace investor Rakesh Jhunjhunwala's firm RARE Enterprises, Concord Biotech’s public issue will open for subscription on August 4.
The IPO is an offer for sale (OFS) of 2.09 crore equity shares, which is 20 percent of the paid-up equity, by Helix Investment Holdings Pte Limited, the private fund operated by Quadria Capital. The IPO gives an exit to Helix.
The Ahmedabad-based pharma company is expected to raise around Rs 1,500-1,600 crore through the issue, aiming a valuation between $950 million and $1 billion.
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The price band for the offer, which closes August 8, is yet to be announced. The anchor book will open on August 3.
3 SME offerings
Solar energy solutions provider Oriana Power’s will be the first IPO in the SME segment during the week. It opens August 1 at a price band of Rs 115-118 a share.
The offer, a fresh issue of Rs 59.66 crore at the upper price band, will close on August 3.
The company will use funds to meet working capital requirements and invest in subsidiaries, the offer document says.
Also read: FMCG company Onest files IPO papers, fresh issue at Rs 77 crore
Vinsys IT Services, an IT skill development & training services provider, will launch its IPO the same day but in a price band of Rs 121-128 a share.
The offer, too, is a fresh issue, of 38.94 lakh equity shares, with the company eyeing Rs 49.84 crore. The issue closes August 4.
The proceeds will meet working capital needs, repay the loan of the subsidiary and used for general corporate purposes.
The bidding for Yudiz Solutions, the third IPO in the SME segment, will begin on August 4. The price band for the offer, which closes August 8, has been fixed at Rs 162-165.
The IT solutions and consultancy services provider is looking to raise Rs 44.84 crore through 27.17 lakh equity shares.
The money will be utilised for acquisition, development of new products and technology, networking and cabling, branding & marketing and capital expenditure, the company has said.
The IPO of Zeal Global Services, which opened on July 28, will be available for subscription till August 1. The logistics solutions company is in the market to raise Rs 36.46 crore by issuing 35.4 lakh shares at an offer price of Rs 103.
Listings
Dyes and pigment paste manufacturer Yasons Chemex Care will make its debut on the NSE SME platform on August 3. Direct marketing solutions firm Innovatus Entertainment Networks will follow the next day.
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