More IPOs to hit Dalal Street this week; Medanta, Bikaji, 2 others aim to raise Rs 4,500 crore via public offers | The Financial Express

More IPOs to hit Dalal Street this week; Medanta, Bikaji, 2 others aim to raise Rs 4,500 crore via public offers

After DCX Systems IPO which opened for subscription on Monday (1 November), three more IPOs are set to hit Dalal Street this week.

More IPOs to hit Dalal Street this week; Medanta, Bikaji, 2 others aim to raise Rs 4,500 crore via public offers
total of four companies have lined up to launch their initial public offering this week and these 4 IPOs cumulatively plan to raise about Rs 4,500 crore

After DCX Systems IPO which opened for subscription on Monday (1 November), three more IPOs are set to hit Dalal Street this week. A total of four companies have lined up to launch their initial public offering this week and these 4 IPOs cumulatively plan to raise about Rs 4,500 crore. Post their IPO issue, the companies will be listed on both BSE and NSE. According to analysts, this week is like a litmus test for the IPO market, which has remained subdued this year. An enthusiastic response from investors to these issues may push the revival button for IPOs again.

DCX Systems IPO opened on 31 October and will be available for subscription till 2 November. The company plans to raise about Rs 500 crore through the issue. The IPO consists of a fresh issue worth Rs 400 crore and an offer for sale (OFS) of up to Rs 100 crore. The price band for the issue is fixed at Rs 197-207 per share. The IPO garnered bids for 5.05 crore shares against an IPO size of 1.45 crore shares subscribing 2.11 times on Monday, the first day of bidding. Retail investors showed good interest, investing for 8.71 times shares of the allotted quota, while the portion set aside for non-institutional investors was subscribed 2.16%.

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Here is the list of three more IPOs that will be launched this week

Fusion Microfinance IPO

Fusion Microfinance IPO is scheduled to open on Wednesday (2 November) and end on Friday (4 November). The issue comprises a fresh issue worth Rs 600 crore and an offer of sale (OFS) of 13,695,466 equity shares by promoters and existing shareholders. Under the OFS, promoters including Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society U.A, and Global Financial Inclusion Fund will be participating. For the IPO, the price band is fixed at Rs 350-368 per share. ICICI Securities, CLSA India, JM Financial, and IIFL Securities are the lead managers for the IPO.

Global Health IPO

Global Health, which operates Medanta hospitals, will launch its IPO on 3 November to raise about Rs 2,205 crore. The IPO will be open for subscription till 7 November. The IPO consists of a fresh issue aggregating to Rs 500 crore and an offer for sale (OFS) of nearly 5.08 crore equity shares by promoters. Among the selling shareholders are — Anant Investments and Sunil Sachdeva. The price band for the IPO is fixed at Rs 319-336 per share. Kotak Mahindra Capital, Credit Suisse Securities (India), Jefferies India, and JM Financial are the lead managers for the IPO. Of the total issue size, 50% of the IPO will be allocated to qualified institutional buyers (QIB), while 15% of the size will be kept for non-institutional investors and the remaining 35% for retail individuals.

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Bikaji Foods IPO

Bikaji Foods International Ltd IPO will open for public subscription on 3 November and will close on Monday (7 November). The anchor book for the IPO will open on 2 November, Wednesday. For the Rs 881 crore IPO, the ethnic snacks company has fixed the price band at Rs 285-300 per equity share. The issue with a face value of Re 1 per equity share is entirely an offer for sale (OFS) up to 2.93 crore shares by existing shareholders and promoter group entities. Investors can bid for a minimum of 50 equity shares and in multiples of 50 thereafter. JM Financial Ltd, Axis Capital Ltd, IIFL Securities Ltd, Intensive Fiscal Services Pvt Ltd, and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue. 

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First published on: 01-11-2022 at 11:44 IST