NEW DELHI: After the stellar opening of Happiest Minds on D-Street last week, three more private firms are set to go public in just the next two days. Mutual funds transfer agency CAMS, Chemical manufacturer Chemcon Speciality will have their IPO open for subscription on Monday, while brokerage house Angel Broking’s IPO is slated to hit market on Tuesday.
Experts feel increasing in liquidity flow and the rebounding of stock market amid higher participation of retail investors will garner a positive response for the three IPOs. NSE-backed CAMS, one of the largest registrars of the Indian asset management companies with a market share of 70 per cent, aims to raise Rs 2,242 crore in a price band of Rs 1,229-1,230. The IPO opens on Monday and close on September 23.
It consists of an offer for sale of 1,82,46,600 equity shares by NSE Investments, a subsidiary of NSE. The 30-year old company has some big names such as Warburg Pincus, Faering Capital, ACSYS Investments, and HDFC as shareholders.
The IPO of Gujarat-based Chemco comprises fresh issuance of equity shares aggregating up to Rs 165 crore and an offer for sale of up to 45 lakh equity scrips by promoters. The company proposes to raise Rs 318 crore via the IPO.
“The IPO committee of the company, in consultation with merchant bankers, has finalised allocation of 28,05,880 equity shares to anchor investors at Rs 340 per share, at the higher end of the price band,” the company said.
head of its IPO, Chemcon raised over Rs 95 crore from 13 anchor investors, including IDFC Mutual Fund, ICICI Prudential Mutual Fund, IIFL, HSBC Global and Mirae Asset Mutual Fund. Angel Broking’s IPO will open between September 22 and September 24 at a price band of Rs 305-Rs 306/share. It plans to raise up to Rs 600 crore through the book-building issue, comprising Rs 18.33 crore and Rs 4.5 crore worth equity shares by promoters Ashok D Thakkar and Sunita A Magnani respectively.
Cash incoming
Rs 2.2k cr is the amount CAMS hopes to raise
Rs 600 cr fund raising targeted by Angel Broking
Ahead of its IPO, Chemcon raised over Rs 95 crore from 13 anchor investors