Heads up! Rs 1,700 crore worth of IPOs to hit D-Street in September

The month of August didn’t exactly went the way Bulls would have wanted, but the S&P BSE Sensex is still up nearly 20 percent so far in the year 2017. The structural Bull Run is still intact which fosters a conducive environment for the primary markets.

Three companies are in the pipeline to go public in the month of September collectively raising as much as Rs1,700 crores from D-Street.

The companies that will be launching their public issues include names like online matchmaking company Matrimony.com Ltd, road developer Bharat Road Network Ltd (BRNL), and electronics maker Dixon Technologies (India).

The real estate services provider Capacit’e Infraprojects Ltd is also scheduled to raise money up to Rs400 crores this month but hasn’t confirmed the timeline.

So far in 2017, as many as 15 companies have raised Rs 12,589.94 crore through the IPO route, said a report quoting data from primary market tracker Prime Database. In 2015 and 2016, 47 companies raised a total of Rs40,107 crore through IPOs, the data shows.

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Kshitij Anand

Editor Markets|Moneycontrol

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"We expect a lot of increase in the IPO pipeline from sectors like insurance, hospitality, and some other financials. Considering that returns on recent IPOs have been considerably better than it was four years back, we believe investors are likely make decent returns going forward also," Abhimanyu Sofat, Vice President, Research at IIFL told Moneycontrol.

Matrimony.com IPO plans to raise up to Rs500 crore

The initial public offer of Matrimony.com, which runs online match making business under BharatMatrimony brand, is likely to open on
September 11. The issue of Matrimony.com is expected to raise Rs 500 crore, sources said.

The company's initial share sale offer is likely to open from September 11-13, PTI reported quoting sources.

Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Dixon Technologies sets IPO price band at Rs 1,760-1,766

Dixon Technologies, a consumer electronics manufacturer, today fixed a price band of Rs 1,760-1,766 per share for its initial public offering, through which it aims to raise about Rs 600 crore. The IPO will be open for public subscription during September 6-8.

Proceeds from the issue will be utilised for setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure.

Bharat Road Network IPO to raise up to Rs600 crores

The road and highways BOT company, Bharat Road Network, will open its initial public offering of up to 2.93 crore equity shares for subscription on September 6, 2017, to raise around Rs 600 crore at the higher end of the price band.

The issue will constitute 34.90 percent of the post issue paid-up equity share capital of the company. The company has fixed price band at Rs 195-205 per share for the issue that will close on September 8.

The company will also use IPO money for acquisition of the subordinated debt given by SREI to three special purpose vehicles i.e. Solapur Tollways Private Limited, Kurukshetra Expressway Private Limited & Mahakaleshwar Tollways Private Limited; and general corporate purposes.