After a dull period for the initial public offerings (IPOs) in the last few months amid the deadly second wave of the pandemic in India, companies are now lining up for initial public offerings (IPOs) which could make 2021 an action-packed year for the public offerings. Here is the list of public offerings that are set to open next week.
IPOs opening next week:
Shyam Metalics: Integrated metal producing company Shyam Metalics and Energy on Tuesday fixed a price band of ₹303-306 a share for its ₹909 crore-initial public offer (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 company intends to utilise the net proceeds from the fresh issue for repayment or prepayment of ₹470 crore of its debt and that of its subsidiary, Shyam SEL and Power; and for other general corporate purposes.
Navoday Enterprises: Marketing and event management company Navoday is set to open its initial public offering on 14 June with a price band fixed at ₹20 apiece. The the issue will close on 17 June and the firm aims to raise nearly ₹46.08 crore.
The company said that 1.2 million shares of ₹24 lakh will be reserved for market makers and rest of the ₹43.68 crore will be called as net issue. The proceeds from the issue will be used for working capital requirements and general corporate purpose.
Sona BLW Precision: Sona BLW Precision Ltd, or Sona Comstar, an automotive component manufacturer, backed by private equity firm Blackstone Group, will open on 14 June. Price band for the issue has been fixed at ₹285-291 per share. The issue will close on 16 June. The firm will raise ₹5,550 via IPO. It consists f a fresh issue of ₹300 crore and an offer for sale of ₹5,250 by Singapore VII Topco III Pte Ltd, an affiliate of Blackstone.
Separately, Abhishek Integration Limited’s IPO opened this week on Tuesday i.e., 8 June and will close on 11 June. The firm plans to issue 9.9 lakh shares at a price of ₹50 apiece, aiming to ₹4.95 crore. The issue comprises up to 54,000 shares for market participants and remaining 9.36 lakh shares will be referred as net issue.
Many companies have in recent months filed the draft prospectus for their public offering with the market regulator Securities and Exchange Board of India (SEBI) which are expected to open for offering in 2021.
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