As the IPO frenzy continues in August with four companies launching their IPOs (Initial Public Offerings) in the first week of the month, four more firms are ready to hit the markets with their initial share sales this week.
This makes the month of August the busiest in terms of IPOs following July. Aptus Housing Finance, CarTrade Tech, Chemplast Sanmar, and Nuvoco Vistas are the four companies that are set to open for public subscription this week.
While two issues will open on August 9, the other two will open on August 10.
Below mentioned are the details regarding the upcoming IPOs this week: -
Aptus Housing Finance IPO: The Chennai-based non-bank lender will open for public subscription on August 10 and will close on August 12. The issue has a fixed price band of Rs 346-353 a share with its total size being Rs 2,780 crore. The IPO comprises a fresh issue of equity shares aggregating to Rs 500 crore and an offer-for-sale of up to 64,590,695 equity shares by the promoter and existing shareholders. At the upper end of the price band, the IPO is expected to fetch Rs 2,780 crore. The net proceeds from the fresh issue will be utilised towards augmenting the company's tier-1 capital requirements.
CarTrade Tech IPO: The public issue of the online auto classified platform, with a price band of Rs 1,585-1,618 a share, will open for subscription on August 9 and conclude on August 11. The initial share sale will be entirely an offer for sale (OFS) of 1,85,32,216 equity shares. At the upper end of the price band, the IPO is expected to mobilise Rs 2,998.51 crore. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Chemplast Sanmar IPO: The speciality chemicals manufacturer has fixed a price band of Rs 530-541 a share for its Rs 3,850-crore IPO. The initial share sale will open for public subscription on August 10, and conclude on August 12, the company said in a virtual press conference on August 5. The Rs-3,850-crore initial public offering (IPO) comprises fresh issue of equity shares worth Rs 1,300 crore and an offer-for-sale of Rs 2,550 crore. The offer for sale comprises the sale of Rs 2,463.44 crore by Sanmar Holdings Ltd and Rs 86.56 crore by Sanmar Engineering Services Ltd. The company said it would utilise an aggregate amount of Rs 1,238.25 crore from the net proceeds towards the early redemption of the non-convertible debentures (NCDs) issued by it. In addition, funds will also be used for general corporate purposes.
Nuvoco Vistas IPO: The cement manufacturer's public issue, with a price band of Rs 560-570 a share, will open on August 9 and close on August 11. The IPO comprises fresh issue of shares worth Rs 1,500 crore and an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprise. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter.
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