The buzz in the IPO industry continues with 4 corporations launching their initial share sales this week to raise more than Rs 14,628 crore collectively. This comes soon after 4 corporations — Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles– launched their initial share-sales last week to mobilize Rs 3,614 crore.
So far in the existing fiscal, 16 corporations have raised Rs 30,666 crore by way of IPOs against Rs 31,277 crore by 30 firms in the whole 2020-21. Going forward, industry analysts anticipate the IPO atmosphere to stay buzzing through the whole 2021-22. Hemang Kapasi, Head of Equities at Sanctum Wealth Management, stated that as quite a few as 40 IPOs are lined up for the rest of the year seeking to raise Rs 70,000 crore.
Nuvoco Vistas Corporation, component of the Nirma Group, and on the internet auto classified platform CarTrade Tech will launch their initial share-sales on Monday, although that of Aptus Value Housing Finance and Chemplast Sanmar will be open for public subscription on Tuesday, information and facts with exchanges showed.
The corporations are raising funds to retire their debt, funding capital expenditure requirement and for basic corporate purposes. Besides, current shareholders are divesting their stakes in the IPOs. Cement manufacturer Nuvoco Vistas’ initial public supplying (IPO) comprises fresh challenge of shares worth Rs 1,500 crore and an provide for sale of Rs 3,500 crore by promoter Niyogi Enterprise.
The public challenge, with a value band of Rs 560-570 a share will open for public subscription on August 9 and conclude on August 11. Proceeds of the fresh challenge will be utilised for the repayment of particular loans availed the firm and basic corporate goal. Nuvoco Vistas is a cement manufacturer with a consolidated capacity of 22.32 MMTPA. It has 11 cement plants comprising 5 integrated units, 5 grinding units and one blending unit.
It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. CarTrade Tech’s initial share-sale will be totally an provide for sale (OFS) of 18,532,216 equity shares. Among the investors participating in the OFS are– CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), Macritchie Investments Pte Ltd (50.76 lakh shares), Springfield Venture International (17.65 lakh shares).
Currently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding and Springfield Venture International holds 7.09 per cent stake in the firm.
The firm has fixed a value band of Rs 1,585-1,618 a share for the IPO, which will be open for public subscription through August 9-11.
At the upper finish of the value band, the IPO is anticipated to mobilise Rs 2,998.51 crore. Founded in 2009, CarTrade is backed by marquee investors — Warburg Pincus, Temasek, JP Morgan and March Capital. The CarTrade platform makes it possible for buyers to purchase and sell utilised vehicles as properly as new vehicles.
The firm is a multi-channel auto platform with coverage and presence across automobile varieties and worth-added services by way of its brands — CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Aptus Value Housing Finance’ IPO consists of fresh challenge of equity shares aggregating to Rs 500 crore and an provide for sale of up to 64,590,695 equity shares by pomoter and current shareholders.
The challenge, with a value band of Rs 346-353 a share, will open on August 10 and close on August 12. At the upper finish of the value band, the IPO is anticipated to fetch Rs 2,780 crore. The net proceeds from the fresh challenge will be utilized towards augmenting the company’s tier-1 capital specifications.
Aptus Value Housing Finance has a powerful capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India. The Rs-3,850-crore IPO of Chemplast Sanmar comprises fresh challenge of equity shares worth Rs 1,300 crore and an provide for sale of Rs 2,550 crore.
The provide 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 firm would utilise an aggregate quantity of Rs 1,238.25 crore from the net proceeds towards early redemption of the non-convertible debentures (NCDs) issued by it. In addition, funds will also be utilised for basic corporate goal.
The value band has fixed a value band of Rs 530-541 a share for the 3-day IPO, which will open for public subscription on August 10.
Chennai-based Chemplast Sanmar is a top specialty chemical compounds manufacturer with focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of beginning components and intermediates for pharmaceutical, agro-chemical and fine chemical compounds sectors.
The equity shares of these 4 corporations will be listed on the BSE and NSE.