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Four new IPOs to hit the market in the coming week to raise Rs 9,123 crore.
Mysuru: After a brief hiatus of two months, four companies are putting up their Initial Public Offerings (IPOs) in the coming week to collectively raise Rs 9,123 crore.
Shyam Metallics and Energy Ltd, Sona BLW Precision Forgings (Sona Comstar), Krishna Institute of Medical Sciences and Dodla Diary are the companies that will be open for public subscription.
According to the company’s red herring prospectus, the proposed offering is Rs 909 crore. The offering is open to public subscription on Monday, June 14, and it will be open till June 16. There is a fresh issue worth Rs 657 crore and an offer for sale up to Rs 252 crore. The price band at which the company will sell its shares is Rs 303 – 306 per share. The company has been listed at both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Shyam Metallics and Energy Ltd is an integrated metal producing company in India. The company has three manufacturing plants in Sambalpur, Odisha, Jamuria and Mangalpur in West Bengal.
Sona BLW Precision Forgings (Sona Comstar) has priced each share between Rs 285 and Rs 291. The offering is open to public from June 14 for three days. The company has been listed in the NSE and the BSE. The IPO comprises of a fresh issue of shares worth of Rs 300 crore and an offer for sale up to Rs 5,250 crore. This has been announced in their red herring prospectus.
Sona BLW Forgings is an auto-parts firm that designs and supplies electrical and non-electrical parts for vehicle makers.
Krishna Institute of Medical Sciences is a Hyderabad based hospital chain that has multi-speciality hospitals in Telangana and Andhra Pradesh. With this offering, KIMS is looking to expand its footprint in other south Indian cities, and central India. KIMS will open its offering to the public on June 16, and it will be open till June 18. The cost of each share is between Rs 815 and Rs 825.
This is one of the largest private hospital chains in south India. The IPO comprises a fresh issue of shares worth Rs 200 crore. This public offering is expected to fetch the company an estimated value of Rs 2,144 crore. The red herring prospectus is available with the Securities and Exchange Board of India (SEBI).
Another Hyderabad based company Dodla Diary is the final company to offer its subscription to the public. The IPO is scheduled for June 16, and it will be open till June 18 for three days. The price band is fixed at Rs 421 – Rs 428 per share. The company’s IPO will comprise a fresh issue of shares worth Rs 50 crore.
Dodla Diary predominantly operates in south India and Maharashtra. It is engaged in procurement, processing and marketing of diary products. The company was listed in the BSE in February 2021. All of the details regarding the IPO are available in the red herring prospectus.
Initial Public Offering is the process in which a private company goes public by sale of its stocks to the general public. After the initial offering, its shares can be traded in the open market. This IPO this week is happening after a two-month break. The last offering happened is of Macrotech Developers between April 7 and April 9, 2021.
In 2021, so far, 17 companies have come out with their IPOs. With the Covid-19 pandemic across the country, these IPOs indicate that economic growth can be boosted through these investment opportunities.
