The Initial Public Offer (IPO) market is slowly getting back on track after being completely sluggish for the last two months due to the second wave of COVID-19. In this series, four companies of the market are going to bring their IPO this week to collectively raise Rs 9,123 crore. Earlier, the last IPO came by Macrotech Developers (earlier Lodha Developers), which opened on April 7 and closed on April 9.
The IPOs of Shyam Metallics & Energy Limited and Sona BLW Precision Forgings (Sona Comstar) have opened from today. While the IPOs of Krishna Institute of Medical Sciences and Dodla Dairy will open on Wednesday.
Shyam Metalics IPO
The issue of metal company Shyam Metalics & Energy opened on June 14 and will close on June 16. The company plans to raise Rs 909 crore. The testimony of this is also giving a huge demand for the company’s shares in the gray market. The company’s issue price band is Rs 303-306. The Rs 657 crore raised through the IPO will be used by the company to pay off the debt of itself and its associate company SSPL.
Sonar Comstar IPO Review
Auto parts maker Sona Comstar has fixed the bid range at Rs 285-291 per share for an initial public offering (IPO) of Rs 5,550 crore. According to the information given by the company, the IPO will open from June 14 to June 16. The bidding for anchor investors opened on June 11. The total IPO of Rs 5,550 crore has a fresh issue of Rs 300 crore, while there will be a sale offer of Rs 5,250 crore by Singapore Seven Topco 3 Private Limited, affiliated to Blackstone Group.
The IPO market is expected to be huge in the coming days. Around a dozen financial services companies, including fintech, are gearing up for IPOs worth over Rs 55,000 crore during the current financial year. More than a dozen insurance, asset management, commercial banking, non-bank, microfinance, housing finance and payments bank companies have submitted documents for IPOs with the Securities and Exchange Board of India (SEBI).
Companies that have submitted documents for IPO with SEBI include Aadhar Housing Finance (Rs 7,500 crore), Policy Bazaar (Rs 4,000 crore), Aptus Housing Finance (Rs 3,000 crore), Star Health Insurance (Rs 2,000 crore), Aditya Birla Sun Life AMC (Rs 1,500 to 2,000 crore), Arohan Financial Services (Rs 1,800 crore), Fusion Microfinance (Rs 1,700 crore), Fincare Small Finance Bank (Rs 1,330 crore), Tamilnad Mercantile Bank (Rs 1,000-1,300 crore) , Medi Assist (Rs 840 crore) and Jana Small Finance Bank (Rs 700 crore).
