The fact that these enterprises come from a wide range of industries reflects the market’s positive attitude towards investment and expansion.
The primary market appears to be picking up momentum, with three main board IPOs and four from the small and medium businesses (SME) group slated to hit Dalal Street in the coming week, beginning on July 26.
- The public offering consists of a fresh issue of Rs 240 crore in shares and an offer-for-sale (OFS) of 48.69 lakh shares by the founders and investors.
- Employees of the company would be given 13,112 equity shares at a discount of Rs 32 per share from the final issue price.
The entire amount raised is expected to be around Rs 380 crore, while the pricing range has yet to be determined.
The 2.56 billion rupee public offering of shares includes a fresh issue of 1.82 billion shares and an OFS of 73.73 lakh shares by promoter Pravin Kumar Agarwal.
Small and medium-sized businesses (SMEs)
The company intends to raise Rs 16.17 crore by selling 23.1 lakh equity shares at the top of the price band.
Tridhya Tech, a provider of software development services and solutions, intends to raise Rs 26.41 crore by the issuance of 62.88 lakh shares at the upper end of the price band of Rs 35-42 per share.
Synoptics Technologies
The IT services and solutions firm plans to generate Rs 54.03 crore through its initial public offering of 22.8 lakh shares at Rs 237 per share. promoters would issue new shares for Rs 35.08 crore and an OFS worth Rs 18.96 crore as part of the IPO.
The proceeds from the new issue will be used to settle certain debts, fulfil working capital requirements, and invest in strategic acquisitions or joint ventures, in addition to general business reasons.
So far in the current calendar year, excluding the aforementioned IPOs, eight businesses have raised more than Rs 10,000 crore through mainboard IPOs.
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