It’s a busy day for the primary market. 6 companies have opened up their issues for bidding today, September 9. Some of these include major names like Rentomojo and Arcil, while issues of Karamtara Engineering, Manipal Payment & Identity Solutions, LCC Projects, and Steamhouse India are also in the limelight.
Here’s a list of four mainboard IPOs that investors are tracking today –
The renewable energy equipment manufacturer plans to raise Rs 875 crore from the Indian primary markets, of which the majority capital of Rs 675 crore will be raised through the issuance of 2.66 crore fresh equity shares.
Promoters will offload 78.74 lakh shares of Rs 10 each through the offer for sale route aggregating to Rs 200 crore. Fresh proceeds will be used for meeting the company’s payment obligations and funding its corporate requirements.
Its share price band has been set at Rs 241 to Rs 254, and investors can bid for a minimum of 59 shares and multiples thereafter. As per trackers, its grey market premium was last reported at 25.5%, reflecting an estimated listing price of Rs 319, based on the upper end of the price band.
However, readers must know that GMP is not regulated and is not an official metric to guess the listing price. It fluctuates based on market conditions and does not guarantee profit.
JM Financial, ICICI Securities, and IIFL Capital Services are the is the book-running lead managers of the IPO, while MUFG Intime India is the registrar of the issue.
The smart card manufacturer’s Rs 805 crore issue comprises a fresh component of Rss 320 crore as the company will issue 94.40 lakh shares of Rs 2 each, while the majority portion will be raised through the OFS route as investors will offload 1.43 crore shares aggregating to Rs 485 crore.
Of the fresh float, Manipal Payments will deploy Rs 238.43 crore towards funding capital expenditure on equipment, while the remaining will be utilised for corporate purposes. The lot size for an application stands at 44 shares, translating into an investment of Rs 14,916.
Its share price band is set at Rs 322 to 339, and as per the latest update, its stock is trading at a GMP of 9.7% in the unlisted markets, suggesting a listing price of Rs 372.
The IPO is being handled by Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management, while MUFG Intime India is the registrar of the issue.
The infrastructure developer’s book build issue of Rs 427.14 crore comprises a fresh issue of 1.77 crore shares amounting to Rs 258 crore, while its OFS component stands at Rs 169.14 crore, as investors will offload 1.16 crore shares of Rs 5 each.
Investors need to bid for a minimum of one lot, comprising 102 shares, equating to an investment of Rs 14,892. The issue’s share price band has been fixed at Rs 139 to Rs 146, and its latest GMP stands at 27.4%, suggesting a listing price of Rs 186, on the upper end of the price band.
Motilal Oswal Investment Advisor is the merchant banker for the IPO, while KFin Technologies is the registrar of the offer.
The steam utility operator company aims to raise Rs 414 crore via its IPO, of which Rs 353 crore will be raised through the issuance of 4.36 crore fresh equity shares of Rs 2 each. The remaining Rs 61 crore will be raised via the OFS route as investors will offload 75.31 lakh shares aggregating to Rs 61 crore.
Its issue price band has been fixed at Rs 77 to Rs 81, and trackers suggest its latest GMP at 21%, reflecting its listing price at Rs 98, on the upper end of the share price band.
To participate in the IPO, investors need to bid for a minimum of one lot, comprising 185 shares amounting to an investment of Rs 14,985. Equirius Capital is the book-running lead manager of the IPO, while KFin Technologies is the registrar of the issue.
All these IPO’s, which opened for bidding on September 9, will close for public subscription on September 11. Their share allotment process is expected to be completed by September 15, and bidders are likely to be credited with their shares and refunds by September 16.