The IPO is of 1,57,14,038 shares, including anchor portion of 47,14,210 shares.
The company is planning to use the cash to fund its inorganic growth initiatives, repay part of its debt and to meet its working capital requirements.
Reviving its IPO plan after eight years, the company had in April filed the draft red herring prospectus (DRHP) with the Sebi seeking approval to float an initial share-sale.
IRCON had filed papers with the Securities and Exchange Board of India (Sebi) for the IPO, through which the government will divest 10 per cent stake or over 99 lakh shares. "Sebi gave its nod for IRCON IPO on July 13," an official told PTI.
The first among the lot would be TCNS Clothing, which sells its products under W, Aurelia and Wishful brands, that will launch its Rs 1,125-crore initial share-sale this week.
A look at data from AceEquity in the past six months, stocks such as Gautam Gems surged 189 percent in 2018 so far, while other names such as Megastar Foods, Mishra Dhatu Nigam, Bandhan Bank, and Lemon Tree Hotels rose between 37 and 80 percent.
The company had filed preliminary papers with Sebi on April 26, seeking approval to float an initial public offering.
"Our survey indicates that good quality companies, coupled with attractive pricing and right timing are the key factors for a successful IPO," Vish Dhingra, Partner, Financial Accounting Advisory Services, EY India, added.
"The initial public offer market is expected to remain robust in 2018 due to the resilient nature of the economy and strong domestic liquidity. The IPO pipeline is healthy with dozens of companies looking to go public raising over Rs 35,000 crore through the year," EY said here today.
Anmol Industries is a branded packaged food company focused on biscuits and cakes under flagship brand 'Anmol'.
The company has allotted 22,99,497 equity shares to 15 anchor investors at Rs 783 per scrip, garnering Rs 180.05 crore.
The share sale consists of fresh issue of up to Rs 300 crore and offer for sale of up to 43,00,000 shares by the selling shareholder, as per the draft red herring prospectus (DRHP) filed with Sebi.
The public offer comprises of fresh issue of shares worth up to Rs 500 crore by the company and offer for sale up to 2.19 crore equity shares.
Filing of consent papers may expedite clearances required for HDFC Mutual Fund’s public offer
Companies which managed to hold on to gains include names like Gautam Gems, Focus Suites and Mishra Dhatu Nigam, according to AceEquity report
"The IPO market is buoyant for good quality company issues which are priced cautiously. There is investor appetite for companies which price their IPOs keeping money-on-table for investors," J Kalyaniwala, vice president of investment banking at Prabhudas Lilladher said.
What one has to keep in mind when it comes to IPOs are the valuations at which they take place.
The public offer comprises of fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale of up to 18 lakh equity shares by selling shareholders.
Lodha had last week revived its IPO plans after eight years by filing draft red herring prospectus with markets regulator Sebi.
The issue will mostly likely be only a secondary sale by existing investors and is expected to target raising between Rs 500 crore and Rs 600 crore, sources said.
FY18 witnessed unprecedented IPO activity and we anticipate the same to be surpassed in FY19.
IPO to consist of a fresh issue worth Rs 545 crore along with an offer sale of up to Rs 455 crore.
Some of the major listings, based on their issue size, were General Insurance Corporation of India, New India Assurance, SBI Life Insurance, and Bandhan Bank.
An investor in a stock such as Meera Industries, a textile major, would have grown their money by over 400 percent, 431.94 to be precise. Or take the case of major names such as Shankara Buildpro, Apex Frozen Foods, PSP Projects, HDFC Standard Life, ICICI Lombard, Cochin Shipyard and Prataap Snacks, among others.
In an interview to CNBC-TV18, Patanjali Keswani, CMD of Lemon Tree Hotels where he spoke about their IPO, the share issue as well as the number of shareholders expected to be exiting through this issue.