In the mainboard segment, the public offers of D Development Engineers and Acme Fintrade will begin from June 19, while the public offer of Stanley Lifestyles will be launched on June 21.
The five SME IPOs opening next week include Medikamen Organics, Dindigul Farm Products, GEM Enviro Management, Durlax Top Surface and Falcon Technoprojects.
Apart from the launch of new issues, shares of ixigo, whose IPO received a good response last week, will be listed on the bourses next week.
Overall, now that the elections are over, analysts expect the IPO wave to intensify in the coming months.
Mahaveer Lunawat, Managing Director of Pantomath Capital, said, “The return of the Modi government to power after the elections has strengthened investor confidence in the market. A total of 24 companies are set to enter the market in the next few months, aiming to raise around Rs 30,000 crore through IPOs.”
Also Read: Stanley Lifestyle IPO to open on June 21, check price band, GMP and other details
Here’s what’s on the IPO table next week
D Development IPO
The initial public offering of DEE Development Engineers, an engineering company that provides specialized process piping solutions, will open for subscription on June 19. The issue, which will close on June 21, comprises fresh equity sale of Rs 325 crore and an offer for sale (OFS) of 45.82 lakh shares.
The IPO is priced at Rs 193-203 per share, where investors can bid in lots of 73 shares and in multiples thereafter. At the upper end, the company plans to raise Rs 418 crore through the IPO.
Approximately 50% of the public offering is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
The net proceeds from the fresh issue will be used for working capital requirements, repayment of debt and other general corporate purposes.
D Development Engineers is an engineering company providing specialised process piping solutions through engineering, procurement and manufacturing for the oil and gas, power (including nuclear), chemical and other process industries.
Stanley Lifestyles IPO
The initial public offering (IPO) of luxury furniture brand retailer Stanley Lifestyle will open on June 21 and close on June 23. The price band of the company is Rs 351-369 per share and the lot size will be of 40 equity shares.
The company is planning to raise Rs 537 crore from this IPO. The IPO consists of a fresh equity issue of Rs 200 crore as well as an offer for sale (OFS) of 91.34 lakh equity shares.
Sunil Suresh, Shubha Suresh, Oman India Joint Investment Fund II, Kiran Bhanu Vuppalapati and Sridevi Venkat Vuppalapati are the shareholders selling their stake as part of the OFS.
The Company proposes to use the net proceeds from the IPO to fund its expenditure for opening new stores, anchor stores, refurbishment of existing stores, capital expenditure requirements for purchase of new machinery and equipment, and other general corporate purposes.
The Bengaluru-based company has over 1,000 designs and 3000 SKUs and is one of the few homegrown high-end and luxury consumer brands in India with a strong presence in both manufacturing and retail operations. Its customers can choose from 10 different types of leather and fabric, available in over 300 colours.
Acme Fintrade IPO
The IPO of Udaipur-based non-banking financial company Acme Fintrade (India) will open for subscription on June 19 and close on June 21. The IPO is priced in the range of Rs 114-120 per share.
The issue is entirely a fresh equity sale of 1.10 crore shares of face value of Rs 10 each.
This fund is being raised primarily to increase its capital base. As per RBI norms, the minimum capital adequacy for NBFCs should be 15%. As on September 30, 2022, the company’s capital adequacy was 43.24%. Out of this, Tier-1 was 39.80%.
“As we continue to grow our loan portfolio and asset base, we will require additional capital to meet the applicable capital adequacy ratios with respect to our business,” the company said.
In the coming years, the Company plans to increase its loan advances, which will require Tier-1 capital to comply with applicable capital adequacy regulations.
Through the IPO the Company will have adequate capital in the short to medium term without requiring any fresh capital.
Greatex Corporate Services is managing the company’s offering.
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