As a new week begins, the market will witness four companies launching their initial share sale, which is IPO (Initial Public Offering), to raise over Rs 14,628 crore collectively.
CarTrade Tech, Nuvoco Vistas, Aptus Housing Finance, and Chemplast Sanmar are the four new companies, which will open for public subscription this week. CarTrade Tech and Nuvoco Vistas Corporation will hit the market on Monday, while the other two, Aptus Housing Finance and Chemplast Sanmar will open on 10 August.
After a successful week, where Devyani International, Krsnaa Diagnostics, Windlas Biotech, and Exxaro Tiles mobilised Rs 3,614 crore, these new additions will now join the list. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21.
Here are few details on the upcoming IPOs this week:
CarTrade Tech IPO: This company will be open for public subscription on Monday, and conclude on 11 August. It will open with a price band of Rs 1,585-1,618. The initial public offer for sale (OFS) is for 18,532,216 equity shares (including the Anchor portion of 55,59,664 equity shares). At the upper end of the price band, the IPO is estimated to raise Rs 2,998.51 crore.
Nuvoco Vistas IPO: This cement manufacturing company will open on Monday as well and close on 11 August. It will issue a price band of Rs 560-570 a share where IPO comprises of fresh issue of shares worth Rs 1,500 crore and an offer for sale (OFS) of Rs 3,500 crore by Niyogi Enterprise who is a promoter. Meanwhile, bidders can put out a proposal for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter.
Chemplast Sanmar IPO: This company will open its initial share sale for public subscription on 10 August and conclude on 12 August. Meanwhile, in a virtual press conference that took place on 5 August, the specialty chemicals manufacturer informed that they have fixed a price band of Rs 530-541 a share for its Rs 3,850-crore IPO. Sanmar Holdings Limited contributes Rs 2,463.44 crore to the offer for sale (OFS), while Sanmar Engineering Services Limited contributes Rs 86.56 crore. Meanwhile, the funds will also be used for general corporate purposes.
Aptus Housing Finance IPO: It is a Chennai-based non-bank lender that consists of fresh issues of equity aggregating to Rs 500 crore. It can get up to 64,590,695 equity shares by the promoter and existing shareholders who are attached to the organisation. This company will open for public subscription on 10 August and will close on 12 August this week. Moreover, the IPO is expected to garner or aim Rs 2,780 crore at the upper end of the price band.