Aiming to tap the upbeat investor sentiment, two companies – Dilip Buildcon and S P Apparels – will hit the capital markets this week to raise an estimated Rs 1,100 crore through IPOs.
The bidding for shares in initial public offer (IPO) of Dilip Buildcon will be open between August 1-3, while the same for S P Apparels would begin on August 2 and close on August 4.
The equity shares offered through the IPOs are proposed to be listed on BSE and NSE.
Infrastructure firm Dilip Buildcon’s IPO comprises fresh issue of equity shares worth up to Rs 430 crore and an offer for sale of up to 10,227,273 shares (including anchor portion). It has fixed a price band of Rs 214-219 per share.
At the upper end of the price band, the public issue is expected to fetch Rs 654 crore.
Proceeds of the issue will be utilised towards repayment of debt and to meet working capital requirements.
The lead managers are Axis Capital, IIFL Holdings, JM Financial Institutional Securities and PNB Investment Services.
The public issue of S P Apparels, manufacturers and exporters of knitted garments for children, consists of fresh issue of equity shares aggregating up to Rs 215 crore and an offer for sale of up to 9 lakh equity shares by New York
Life Investment Management India Fund (FVCI) II LLC, the selling shareholder.
The company has fixed the price band of Rs 258-268 per equity share. At the upper end of the price band, the public issue is expected to fetch Rs 456 crore.
The IPO is managed by Motilal Oswal Investment Advisors and Centrum Capital.
Since the beginning of 2016, as many as 14 IPOs including Larsen & Toubro Infotech, Mahanagar Gas, TeamLease Services and Infibeam Incorporation have already hit the capital markets.