Three IPOs to hit market this week to raise Rs 6,600 crore

 PTI   New Delhi     Last Updated: September 10, 2017  | 14:35 IST
Three IPOs to hit market this week to raise Rs 6,600 crore

Three, Capacit'e Infraprojects and ICICI Lombard-will launch their initial share sale offers this week to raise about Rs6,600 crore. The initial public offer (IPO) of, which runs online match-making portals, will be open from 11-13 September.

The IPO comprises fresh issue aggregating up to Rs130 crore and an offer for sale of up to 37.67 lakh equity shares., which runs online match-making business under BharatMatrimony brand, among others, is expected to raise over Rs500 crore. The price band for the IPO has been fixed in the range of Rs983-985 per share. The company has raised nearly Rs226 crore from anchor investors on Friday. Net proceeds from the issue would be utilised towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Engineering firm Capacit'e Infraprojects' Rs400 crore IPO will be launched on 13 September. The issue, with a price band of Rs245-Rs250 per equity share, will close on 15 September. The company plans to utilise the proceeds of the issue for funding working capital requirements, purchasing of capital assets and general corporate purposes.

Besides, ICICI Lombard General Insurance Company has set Rs651-661 as the price band for its IPO, which will make it a Rs5,700 crore issue. The issue, the first by any general insurance company, will be open for subscription from 15-19 September. So far this year, 19 companies, including BSE, Avenue Supermarts and Central Depository Services (India) Limited, have hit the market with their IPOs. Last week, Dixon Technologies and Bharat Road Network concluded their IPOs.



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