With a long list of upcoming initial public offers (IPOs) in the pipeline this year, investors may look forward to an action-packed year. As many as 16 IPOs are likely to hit the market in March itself to raise over Rs 25,000 crore.
The list of upcoming IPOs includes MTAR Technologies, Kalyan Jewellers India, Power Grid Corporation InvIT, Anupam Rasayan, Laxmi Organic Industries, Suryoday Small Finance Bank, Craftsman Automation, Barbeque Nation Hospitality, Nazara Technologies, Aadhar Housing Finance and India Pesticides, among others.
Of this, 11 companies -- MTAR Technologies, Easy Trip Planners, Puranik Builders, Apeejay Surrendra Park Hotels, Laxmi Organic Industries, Suryoday Small Finance Bank, Craftsman Automation, Barbeque Nation Hospitality, ESAF Small Finance Bank and Kalyan Jewellers India -- have received nod from market regulator Sebi for public listing of shares.
The strong rally on Indian bourses has set the stage for companies across sectors to raise capital through IPOs to take advantage of this opportune time. Eight companies raised Rs 12,720 crore through this route in the first two months of 2021, while Rs 43,800 crore was raised in the year 2020.
Here's a look at the top 11 upcoming IPOs that are scheduled to hit the market in March 2021.
MTAR Technologies: The Hyderabad-based precision engineering solutions company will hit the market with Rs 600-crore IPO on March 3. This will be the ninth IPO since the beginning of this year after Indian Railway Finance Corporation, RailTel Corporation of India, Indigo Paints, Home First Finance Company, Nureca, Stove Kraft, Brookfield India REIT and Heranba Industries. The price band for the three-day IPO, which closes on March 5, has been fixed at Rs 574-575 per share. The issue size of IPO is 1,03,72,419 shares, while the lot size is 26 and in multiples thereof, which means investors can bid for a minimum of 26 equity shares and in multiples of 26 shares thereafter.
Kalyan Jewellers: The home-grown jeweller has filed the draft prospectus for Rs 1,750 crore IPO. The Kerala-based company intends to raise Rs 1,000 crore by fresh issuance of shares, while its promoter T. S. Kalyanaraman and Warburg Pincus will sell stake worth Rs 250 crore and Rs 500 crore, respectively. The exact timeline of the IPO, issue size and price band of shares are yet to be ascertained.
Easy Trip Planners: The online travel agency had filed draft papers with capital markets regulator Sebi in December 2019 to float a Rs 510-crore IPO. The company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through offer-for-sale mechanism. The company operates online travel firm EaseMyTrip.com. The objective of the public issue is to achieve the benefits of listing the equity shares on stock exchanges.
Puranik Builders: The Mumbai-based real estate firm has received Sebi's go-ahead to float its IPO. It consists of fresh issue of shares worth Rs 810 crore, besides an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders. According to market sources, the IPO size could be estimated at Rs 1,000 crore.
Aadhar Housing Finance: Backed by private equity firm Blackstone Group Inc, the company has filed for an IPO of up to Rs 7,300 crore. The issue will comprise of fresh shares worth up to Rs 1,500 crore and shares worth up to Rs 5,800 crore by BCP Topco VII Pte Ltd, an entity managed by Blackstone that owns 98.72 per cent stake in the company.
Apeejay Surrendra Park Hotels: The company has got regulatory go-ahead for its estimated Rs 1,000 crore IPO. The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore, according to merchant banking sources. The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes.
Laxmi Organic Industries: Speciality chemicals manufacturer Laxmi Organic Industries has received regulatory approval to launch a Rs 800-crore IPO. It comprises fresh issuance of shares aggregating to Rs 500 crore and an offer-for-sale worth Rs 300 crore by the promoter Yellow Stone Trust. Net proceeds from the issue will be utilised for setting up a manufacturing facility for fluoro specialty chemicals, working capital requirements, purchase of plant and machinery and upgrading existing units.
Suryoday Small Finance Bank: The company has been granted the go-ahead to float its IPO, which comprises fresh issuance of 1,15,95,000 equity shares and an offer for sale of up to 84,66,796 equity scrips by existing shareholders, according to the draft papers filed with the regulator.
Craftsman Automation: The auto component maker has received regulatory approval to launch an initial share sale. The IPO comprises of a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of up to 45,21,450 shares by the promoter and existing shareholders, the draft red herring prospectus filed with Sebi showed.
Barbeque Nation Hospitality: Casual dining chain has received Sebi's approval to raise about Rs 1,000-1,200 crore through an IPO. It comprises a fresh issue of shares worth Rs 275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the regualator.
ESAF Small Finance Bank: The Kerala-based small finance bank has received approval to launch Rs 976-crore initial public offering. As per the DRHP, the IPO comprises of a fresh issue worth Rs 800 crore and an offer for sale (OFS) aggregating up to Rs 176.2 crore.
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