Looking to tap upbeat investor sentiments, five companies including Sadbhav Infrastructure Projects and Navkar Corp will hit the capital markets this month to raise an estimated over Rs. 1,500 crore through IPOs.
The bidding for shares in initial public offer (IPO) of Navkar will open tomorrow and close on August 26. The public offers of Pennar Engineered Building Systems and Shree Pushkar Chemicals and Fertilisers will begin on August 25 and close on August 27.
In addition, Prabhat Dairy’s initial share-sale offer will open for public subscription on August 28, while Sadbhav Infrastructure Projects will hit the markets on August 31.
Together, the five companies are planning to garner at least Rs. 1,551 crore.
The shares of all these companies are proposed to be listed on BSE and NSE.
The funds raised through the issues would be used for business expansion, repayment of loans and working capital requirements.
Power infrastructure services company Power Mech has already launched an IPO this month.
Individually, logistics firm Navkar would mobilise up to Rs. 510 crore by issuing fresh equity shares and rake in up to Rs. 90 crore through sale of existing shares. It has set the price band at Rs. 147-155 for its public issue.
Building systems solutions provider Pennar Engineered Building’s IPO is aiming to garner Rs. 156 crore through fresh issue of shares and an offer for sale by private equity investor Zephyr Peacock and others. It has fixed a price band of Rs. 170 to Rs. 178 for the IPO.
Shree Pushkar Chemicals and Fertilisers plans to raise Rs. 70 crore by issuing fresh shares as well as an offer for sale of 20,26,589 shares.
Prabhat Dairy, an integrated milk and dairy products company, plans to rake in up to Rs. 300 crore by issuing fresh equity shares and offer for sale of up to 1.47 crore equity scrips. The price band for the issue, which will close on September 1, is fixed at Rs. 140-147 a share.
The public offer of Sadbhav consists of a fresh issue of equity shares worth Rs. 425 crore and an offer for sale of up to 32.36 lakh equity shares by existing investors. The IPO is scheduled to close on September 2.
