The primary market is set for an exciting week as three companies are aiming to raise over Rs 2,700 crore through their initial public offerings (IPOs).
Emcure Pharmaceuticals, with Shark Tank’s Namita Thapar as Executive Director, and Bansal Wire will open for subscription this week on the mainboard. Additionally, Ambey Laboratories will launch an IPO as the sole SME issue.
The IPO market is currently experiencing significant enthusiasm, particularly due to the upcoming plans of Hyundai Motor India, the country’s second-largest carmaker, to launch a substantial Rs 25,000 crore IPO this year. This offering is poised to be the largest in India’s history.
Also, analysts foresee significant capital inflows into public markets and strong demand for both new and established businesses in the next few years.
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Emcure Pharmaceuticals IPO
Pune-based Emcure Pharmaceuticals will launch its first public issue for subscription on Wednesday (July 3, 2024) till Friday (July 5, 2024). The price band is set at Rs 960 to Rs 1,008 per share for its Rs 1,952-crore IPO.
The IPO consists of a fresh issuance of equity shares worth Rs 800 crore and an offer-for-sale (OFS) of 1.14 crore equity shares by existing shareholders, including promoters. The anchor book for the issue will open on July 2, 2024.
The company has allocated 50 percent of the net issue size for qualified institutional buyers (with up to 60 percent of this portion for anchor investors), reserved 35 percent for retail investors, and set aside the remaining 15 percent for non-institutional investors (NIIs) and high net worth individuals (HNIs).
Bansal Wire IPO Details
The initial public offering of Bansal Wire will be open for subscription from Wednesday (3 July, 2024) until Friday (5 July, 2024). The price band is set between Rs 243 and Rs 256 per share.
At the top end of this range, the company aims to raise around Rs 745 crore. Investors can place bids for a minimum of 58 shares per lot and in multiples thereafter.
Also Read: Nephro Care India IPO Opening on June 28: Details Here
The company is conducting this IPO through the book-building process, reserving 50% of the issue for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
They will use the proceeds from the IPO to repay some of the company’s debt, meet working capital needs, and cover other general corporate expenses.
Ambey Laboratories IPO
The IPO of Ambey Laboratories, priced at Rs 65-68 per share, will open on Thursday (July 4, 2024) and close on (July 8, 2024).
The Rs 45 crore issue includes a fresh sale of 62.5 lakh shares and an OFS of 3.12 lakh shares. Investors can bid for a minimum of 2,000 shares per lot.
Also Read: SEBI Approves Stricter Rules for Stock Inclusion in Derivative Trading
Upcoming Listings This Week
In addition to these three IPOs, 11 new listings will hit the stock market this week. In the mainboard segment, the Allied Blenders and Distillers IPO will be listed on Tuesday (2 July, 2024), and the Vraj Iron and Steel IPO will be listed on Wednesday (3 July, 2024).
For SME segment, nine companies will make their debut, including Nephro Care India, Diensten Tech, Petro Carbon and Chemicals, Divine Power Energy, Akiko Global Services, Visaman Global Sales, Mason Infratech, Sylvan Plyboard (India), and Shivalic Power Control.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before investing.
