Upcoming IPOs This WeekImage Credit source: File Photo
In the last week of the month starting from July 26, three big and four small i.e. a total of 7 IPOs are going to come. This means that market investors are going to get a lot of earning opportunities in the coming days. A total of more than Rs 1,600 crore is expected to be raised from these 7 issues. The SME issue is expected to raise Rs 110 crore. Let us also tell you that which are the 7 companies whose IPOs are going to come in the coming days.
Idea Forge Technology IPO
Drone manufacturing company Ideaforge Technology will be the first IPO of the week, which will open on June 26. It is looking to raise Rs 567 crore at the upper end of the price band of Rs 638-672 per share. The IPO includes fresh issue of shares worth Rs 240 crore and OFS of 48.69 lakh shares by promoters and investors. There are 13,112 equity shares reserved for the employees of the company, which will be allotted at a discount of Rs 32 per share to the final issue price.
On June 23, a day before the issue opened, the unmanned aircraft systems manufacturer had already raised Rs 255 crore through the anchor book. The proceeds from the new issue will be used to repay debt, meet working capital requirements, invest in product development and for general corporate purposes. Investors can bid for a minimum of 22 equity shares and thereafter in multiples of 22 shares. Offer will close on 29th June. The shares will be listed on the stock market on July 7.
Cyient DLM IPO
Cyient DLM, a subsidiary of IT services firm Cyient, will be the second IPO. Bidding for this will start on June 27 and close on June 30. The anchor book of the IPO will open for one day on June 26. The IPO of 2.23 crores includes fresh issue of shares only. At an upper price bank of Rs 250-265 per share, the issue will raise Rs 592 crore. Shares with a value of up to Rs 15 crore have been reserved for employees.
They will be allotted reserved shares at a discount of Rs 15 per share to the final issue price. The funds will be used to pay down certain borrowings, meet incremental working capital requirements and fund planned capital expenditure by the company. Bids can be made by investors for a minimum of 56 equity shares and in multiples of 56 shares thereafter. The shares of the company will be listed on BSE and NSE on July 10.
PKH Ventures IPO
PKH Ventures has also decided to launch its first IPO next week. The launch date will be 30th June and the closing date will be 4th July. The total fund raising is estimated to be around Rs 380 crore, however the price band has not been announced yet. The IPO of 2.56 crore shares includes fresh issue of 1.82 crore shares and OFS of 73.73 lakh shares by promoter Praveen Kumar Agarwal. PKH Ventures is 100% owned by the promoters. The proceeds from the IPO will be used by the company’s subsidiary Halaipani Hydro Project for the development of hydropower projects and to meet the long-term working capital requirements of Garuda Construction. The listing of the shares will take place on July 12.
Pentagon Rubber IPO
Conveyor belt maker Pentagon Rubber will be the first IPO in the SME segment next week, which will open on June 26 and close on June 30. The company plans to raise Rs 16.17 crore by issuing 23.1 lakh equity shares at the upper level of the price band. This offer is an issue of 100 per cent fresh shares. The price band for the offer has been fixed at Rs 65-70 per share. The IPO funds will be used primarily for working capital apart from general corporate purposes.
Pet Industries IPO
PET stretch blow molding machine maker and exporter Global Pet Industries’ second IPO will open for subscription on June 29 with a fixed issue price of Rs 49 per share. It will close on 3rd July. The IPO of 27 lakh equity shares is completely a fresh issue of shares. Hence, the company is raising funds of Rs 13.23 crore. This money will be mainly used for the construction of the factory building.
Tridhya Tech IPO
Two more IPOs, Tridhya Tech and Synoptics Technologies, will be launched on June 30, the last day of the coming week. Both will close on July 5. Software development service and solution provider Tridhya Tech plans to raise Rs 26.41 crore by issuing 62.88 lakh shares at an upper price band of Rs 35-42 per share. This is also a fresh issue of shares. The main objective of the share sale is to repay unsecured and secured loans, apart from making payments for general corporate purposes.
Synoptics Technologies IPO
IT service and solutions company, Synoptics Technologies, is going to raise Rs 54.03 crore through its maiden IPO of 22.8 lakh shares at a price of Rs 237 per share. The IPO will consist of fresh shares worth Rs 35.08 crore and OFS by the promoters of Rs 18.96 crore. This is a fixed price issue. IT infra solution providers will use it to repay certain borrowings, meet working capital requirements, apart from general corporate purposes.
All the four SME companies will be listed on the NSE Emerge platform. Pentagon Rubber will list on July 10, Global Pet Industries on July 11 and Tridhya Tech and Synoptics Technologies on July 13. So far in the current calendar year, excluding the above IPOs, mainboard IPOs by eight companies have raised more than Rs 10,000 crore and 65 companies in the SME segment have raised more than Rs 1,600 crore.