IPOs: These six companies are looking to raise around Rs 10.000 cr from Dalal Street

It’s going to be raining IPOs from June 14. At least six companies will hit the primary market in the next one month to raise collectively Rs 10,000 crore from the initial share sale.

These companies are Sona BLW Precision Forgings, Shyam Metalics, India Pesticides, KIMS Hospitals, Clean Science and Technology and Dodla Dairy.

Integrated metal producing company Shyam Metalics and Energy has fixed a price band of Rs 303-306 a share for its Rs 909 crore initial public offering (IPO). The three-day IPO will open on June 14 and close on June 16 and the bidding for anchor investors will open on June 11.

The IPO comprises fresh issuance of equity shares worth up to Rs 657 crore and an offer for sale (OFS) to the tune of Rs 252 crore by existing shareholders.

On the other hand, auto component maker Sona BLW Precision Forgings (Sona Comstar) will also open for subscription on June 14. The company has fixed price band of Rs 285-291 a share for its Rs 5,550 crore initial public offer (IPO). The issue will close on June 16. The IPO comprises a fresh issue of shares amounting to Rs 300 crore and an offer for sale (OFS) aggregating up to Rs 5,250 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Group Inc.

Expert view

Yash Gupta, Equity Research Associate, Angel Broking said, “We had some very good IPO listings in the start of the year but then, the market focus has been shifted towards midcaps and smallcaps. Now, again, the IPO market is getting ready for 6 new IPOs in a couple of months.”

He further added that around 6-7 new IPOs will be coming in a couple of months with an IPO size of Rs 10,000-Rs 11,000 crore. Clean Science and Technology expects to come with an IPO in the first week of July 2021 with IPO size of Rs 1,500 crores, along with it, India Pesticides, KIMS Hospitals and Dodla Dairy are expected to come in the month of June or July. We expect this will be a very good opportunity for the retail investor to make money due to listing gains in a very short time of period,” he added.

Other updates

Utkarsh Small Finance Bank and Glenmark Life Sciences have also received capital markets regulator Sebi’s go-ahead to raise funds through initial public offers. The initial public offer (IPO) of Utkarsh Small Finance Bank comprises a fresh issue of equity shares worth Rs 750 crore and an offer for sale to the tune of Rs 600 crore by promoter Utkarsh Coreinvest Ltd, according to draft red herring prospectus (DRHP).

On the other hand, Vijaya Diagnostic Centre, a healthcare chain, has filed preliminary papers with capital markets regulator Sebi. The initial public offer (IPO) is entirely an offer for sale of 35,688,064 equity shares by the promoters, S Surendranath Reddy and investors Karakoram and Kedaara Capital Alternative Investment Fund. Online auto classified platform CarTrade Tech has also filed preliminary papers with SEBI to raise funds through an IPO.