2.9 C
Tuesday, January 25, 2022

IPO of four companies will open next week, will have to raise Rs 14,628 crore

- Advertisement -spot_imgspot_img
- Advertisement -

New Delhi. Four companies are going to bring their IPO next week to raise a total of over Rs 14,628 crore amid a boom in the initial public offering (IPO) market. Devyani International, Krishna Diagnostics, Windlass Biotech and Exaro Tiles had launched their initial share sale last week to raise Rs 3,614 crore.

So far in the current financial year, 16 companies have raised Rs 30,666 crore through IPOs, as against 30 companies that raised Rs 31,277 crore through IPOs in the previous financial year. Market analysts expect the IPO market to remain bullish throughout 2021-22.

Hemang Kapasi, head of equities at Sanctum Wealth Management, said 40 IPOs are in line for the rest of the year to raise Rs 70,000 crore. According to the information available with the stock exchanges, Nirma Group companies Nuvoco Vistas Corporation and Cartrade Tech will start their initial share sale on Monday. The same Aptus Value Housing Finance and Chemplast Sanmar will receive bids for public applications on Tuesday.

read also

Companies are actually raising funds for debt servicing, capital expenditure requirements and general corporate purposes. Apart from this, under the IPO, the existing shareholders are selling their stake in the companies. The IPO of cement maker Nuvoco Vistas includes an offer for fresh issue of shares worth Rs 1,500 crore. There is also an offer for sale by the promoter Niyogi Enterprises for Rs 3,500 crore.

The company will open the process of application for this on August 9 at a price of Rs 560-570 per share, which will end on August 11. In addition, the offer for sale (OFS) of 18,532,216 equity shares will be held in Cartrade’s IPO. For this, the company will open an IPO between August 9 and 11 at a price of Rs 1,585-1,618.

The IPO of Aptus Value Housing Finance includes fresh issue of equity shares worth Rs 500 crore and offer for sale of 64,590,695 equity shares by promoters and existing shareholders. The company will open its IPO from August 10 to 12 at a price of Rs 346-353. (agency)

- Advertisement -
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img


Please enter your comment!
Please enter your name here