After a dull period in the initial months of the year amid the deadly second covid wave in the country, its raining IPOs non-stop in Dalal Street since the past few months as many companies are lining up for initial public offerings (IPOs), making 2021 an action-packed year for the offerings.
After some five companies that launched their offerings in the previous month, July is set to be the busiest month in terms of IPOs as many as eleven companies are in the list to launch their issues with the aim to raise around ₹24,000 crore. Companies like Glenmark Life Sciences, Utkarsh Small Finance Bank, Seven Islands Shipping are expected to hit the IPO market this month.
Here is the list of public offerings lined up this month:
GR Infraprojects: GR Infraprojects’ initial public offering (IPO) will open for subscription on 7 July, Wednesday. The public issue comprises an offer for sale (OFS) of up to 11.5 million shares by promoters and shareholders.
Glenmark Life Sciences: The company recently got approval from the market regulator Securities and Exchange Board of India (SEBI) to raise funds via IPO. The IPO consists of a fresh issue of shares worth ₹1,160 crore and an offer for sale of up to 7.31 million shares by parent Glenmark Pharmaceuticals Ltd.
Utkarsh Small Finance Bank: Utkarsh Small Finance plans to raise nearly ₹1,350 crore through its public offering. Its IPO comprises a fresh issue of ₹750 crore and an offer for sale by Utkarsh Coreinvest of up to ₹600 crore. The company plans use proceeds towards the augmentation of Tier-I capital base to meet its future capital requirements.
Shriram Properties: Shriram Properties recently got SEBI’s nod to raise funds via IPO. The companyplans to raise ₹800 crore via IPO. The issue comprises a fresh issue of ₹250 crore and an offer for sale of up to ₹550 crore by current shareholders and promoters.
Seven Islands Shipping: The Mumbai-based seaborne logistics’ public issue comprises a fund raise via fresh issue amounting to ₹400 crore and an offer for sale up to ₹200 crore by FIH Mauritius Investments.
Nuvoco Vistas: Nirma Group’s cement company, Nuvoco Vistas Corp plans to raise Rs5,000 crore through the IPO. The IPO will comprise a fresh issue of Rs1,500 crore and an offer for sale of ₹3,500 crore by its promoter entity Niyogi Enterprise Pvt. Ltd.
Aadhar Housing Finance: The company will issue fresh shares worth ₹1,500 crore through the IPO, while Blackstone will sell existing shares worth ₹5,800 crore, Aadhar’s draft red herring prospectus showed.
Vijaya Diagnostics: The Hyderabad-based company is expected to bring its public issue worth ₹2,000 crore this month. The IPO will see the investor and promoters collectively dilute a 35% stake in the company.
Ami Organics: Reports suggest that the chemical-maker is expected to bring its IPO worth ₹650 crore in July. It includes a fresh issue of ₹300 crore and an offer for sale of up to 6.06 million shares.
Clean Science Technology: The plans to raise ₹1,400 crore through its initial share sale.
Arohan Financial Services: Reports suggest that the IPO of Kolkata-based microfinance lender Arohan Financial Services may come into the market this month. The ₹1,800 crore worth offer is consists of a fresh issue worth ₹850 crore and an OFS.
According to media reports, Life Insurance Corporation of India (LIC), Nykaa, Policybazaar and others are working on their offerings to go public this year but are yet to file the prospectus with the market regulator SEBI.
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