MUMBAI: As July—the first half of which had set a six-year record of being the busiest IPO month mopping up over Rs 36,000 crore—winds downs, companies are hitting the Dalal Street like there is no tomorrow— the next seven days will see as many as 14 companies joining the IPO frenzy, raising more than Rs 7,300 crore, including Rs 7,008 crore by five mainboard IPOs. That’s almost three issues a day, as the market week is only five days.
The five-day week beginning July 28 is also set to be among the busiest one for the IPO market in a long time, in terms of listing as well with a dozen companies scheduled for market debut.
These 14 companies are looking to raise over Rs 7,300 crore from the public, including Rs 7,008 crore by five mainboard IPOs, according to investment bankers.
The week opens with the initial public offerings of the small businesses focused non-bank Laxmi India Finance and the largest video security and surveillance products maker Aditya Infotech. Both are mainboard segment and will open for subscription on July 29.
Laxmi Finance has fixed a price band at Rs 150-158 for its Rs 254-crore issue, while Aditya Infotech, which sells its wares under the label of CP Plus, is raising Rs 1,300 crore at a price band of Rs 640-675.
Then comes the much-awaited National Securities Depository's ( NSDL) Rs 4,011 crore issue that will be only an offer-for-sale and will open on July 30. The largest depository company has set Rs 760-800 as the price band, which is almost 28 per cent discount to the grey market price of over Rs 1,100.
IDBI Bank, the National Stock Exchange, and the UTI-promoted market infrastructure institution NSDL is looking at mobilizing Rs 4,011.60 crore via the OFS necessitated by the regulatory mandate of not owning more than 15 per cent in a market-making company. While IDBI Bank owns a tad over 26 per cent, NSE owns 24 per cent in the company, which they will pare to 15 per cent each through the 501 million share sale through the OFS.
The same day will also see the Rs 792-crore issue of the Mumbai-based real estate firm Sri Lotus Developers & Realty at a price band of Rs 140-150 apiece.
Capping the mainboard issues, July 30 will also see a third issue-- the Ahmedabad-based pre-engineered buildings and self-supported roofing solutions firm M&B Engineering’s Rs 650-crore issue hitting the street, at a price band of Rs 366-385.
In the SME segment, investors will see nine issues with the Rajkot-based smartphones retailer Umiya Mobile, and warehousing and logistics company Repono being the first to hit the Street on July 28. While the former is raising Rs 25 crore through a fixed price issue mechanism, the latter is looking at mopping up Rs 27 crore via a book-building route.
July 29 will see the Rs 70-crore issue from the Punjab-based the fabrics supplier Kaytex Fabrics opening. July 30 will have three maiden public issues---Takyon Networks' Rs 20.5-crore issue, Mehul Colours' Rs 22-crore, and BD Industries Pune's Rs 45.5-crore issue.
Masterbatches and polymer solutions provider Renol Polychem and outdoor advertising firm Cash Ur Drive Marketing will be the next to launch IPOs on July 31. The former is raising Rs 26 crore and the latter Rs 61 crore. The last public issue in the SME segment this week is from Flysbs Aviation, opening on August 1.
Apart from this, IPOs like Brigade Hotel Ventures and Shanti Gold International launched last week, will close on July 28 and 29, respectively. While in the SME segment, Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries’ issues launched on July 25 will remain open till July 29.
The week will also witness 12 listings, according to the tentative schedule published by companies at the time of filing RHP. Among them, Indiqube Spaces and GNG Electronics will be on the mainboard on July 30, while Brigade Hotel and Shanti Gold will debut on July 31 and August 1, respectively, both on the mainboards.
The remaining eight listings will be from the SME segments, and include Savy Infra Logistics, Swastika Castal (scheduled for July 28), followed by Monarch Surveyors & Engineering Consultants on July 29, and TSC India on July 30.
