Five IPOs to hit market in first half of November

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With five initial public offerings (IPOs) queued up during the first half of November, primary market is back in focus. Five firms that are going public, including Paytm parent One97 Communications and Policybazaar parent PB Fintech, are collectively looking to raise a whooping sum of over Rs 27,000 crore.

The other three firms that are set to launch their initial share-sales include Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries.

So far in 2021, as many as 41 companies have floated their IPOs to raise Rs 66,915 crore. Here’s a snapshot of the upcoming IPOs:

Paytm

Dgital firm One97 Communications-owned Paytm is set to come out with it Rs 18,300-crore IPO on November 8. The IPO comprises fresh issuance of equity shares worth Rs 8,300 crore and Rs 10,000 crore from offer for sale (OFS) by existing shareholders. The company has fixed a price band of Rs 2,080-2,150 apiece, which implies that the firm’s valuation stands at Rs 1.44 lakh crore-Rs 1.48 lakh crore.

Policybazaar

The Rs 5,710-crore IPO of PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, comprises a fresh issue of Rs 3,750 crore worth of equity shares and an offer for sale of about Rs 1,960 crore by existing shareholders. The issue, with a price band of Rs 940-980 a share, will open for public subscription during November 1-3.

Sapphire Foods India

Sapphire Foods India’s IPO will open for public subscription on November 9 and conclude on November 11. The IPO will be entirely an offer of sale of 1,75,69,941 equity shares by promoters and existing shareholders. According to market sources, the IPO is expected to fetch Rs 1,500-2,000 crore.

SJS Enterprises

The Rs 800-crore IPO of SJS Enterprises is entirely an offer for sale of shares worth Rs 710 crore by Evergraph Holdings Pte Ltd and shares to the tune of Rs 90 crore by KA Joseph. The initial share sale, with a price band of Rs 531-542 a share, will open on November 1 and end on November 3.

Sigachi Industries

Sigachi Industries will issue 76.95 lakh equity shares through its initial share sale and is planning to mop up Rs 125.43 crore at the upper-end of price band of Rs 161-163 per share.