2000 crore worth of IPOs to hit Dalal Street next week, In December, the fundraising, including the two upcoming IPOs of KFin Technologies and Elin Electronics, will be a little more than Rs 3,800 crore
So far, we have seen 36 IPOs this calendar year, raising nearly Rs 62,000 crore. Add the two upcoming IPOs and the total fundraising by main board IPOs would be nearly Rs 64,000 crore.
The first IPO for next week is that of KFin Technologies, a technology-driven financial services platform, which will be open for subscription during the December 19-21 period.
The company that provides services and solutions to asset managers and corporate issuers across asset classes in India aims to garner Rs 1,500 crore via the issue which is only an offer for sale.
Promoter entity General Atlantic Singapore Fund Pte Ltd will be selling shares worth Rs 1,500 crore. The price band for the offer has been fixed at Rs 347-366 a share.
The company has reserved 75 percent of the offer for qualified institutional buyers (QIBs), 15 percent for high net-worth individuals (HNIs) and the remaining 10 percent for retail investors. Join Our Telegram Channel
Electronics manufacturing services (EMS) provider Elin Electronics’ would be the second public issue opening for bidding on December 20, with a price band of Rs 234-247 per share.
The public issue will fetch the company Rs 475 crore, and consists of a fresh issuance of shares worth Rs 175 crore and an offer for sale of Rs 300 crore on the part of the promoter Sethia family members.
The fresh issue proceeds will be used to retire debt and fund the expansion of facilities at Ghaziabad (Uttar Pradesh) and Verna (Goa). Join Our Instagram Channel
The offer closes December 22. Half of the offer size is reserved for QIBs, 15 percent for HNIs and the balance 35 percent for retail investors.
Elin Electronics is a leading manufacturer of end-to-end product solutions for major brands of lighting, fans and small/ kitchen appliances in India and is one of the largest fractional horsepower motors manufacturers in India.
Listings
Apart from public issues, we will also have three listings next week with Sula Vineyards being the first to debut on December 22. India’s largest wine producer closed its public issue on December 14 with just 2.33 times subscription.
The other two — financial service firm Abans Holdings and premium automobile retailer Landmark Cars — will be listing on December 23 after closing their offers on December 15. The former was subscribed 1.1 times and the latter garnered 3.06 times subscription.
In the grey market, Sula Vineyards as well as Landmark Cars shares traded at a moderate discount, analysts said.
The grey market is an unofficial platform for trading in IPO shares. Generally, investors look at the grey market to know the expected listing price of an IPO.