New Delhi: This week Dalal Street will witness listing of four different companies as they are set to launch their initial public offerings (IPOs).
The upcoming public listing include companies like Rakesh Jhunjhunwala-backed footwear company Metro Brands, distribution technology company RateGain, real estate firm Shriram Properties, and digital map maker MapmyIndia. These four firms plan to raise more than Rs 4,100 crore through IPO. There will be spoilt for choice for investors as these companies may gain enough traction during listing, according to market analysts.
RateGain Travel, one of the largest software services companies in the hospitality and travel industry in India, will open subscription for its shares on Tuesday (December 7), South India-based real estate developer Shriram Group’s Shriram Properties will roll out IPO on December 8. A day after, CE Info Systems, popularly known for its brand MapmyIndia, will launch its IPO on December 9, and is yet to disclose its price band and lot size.
Rakesh Jhunjhunwala-backed footwear specialty retailer Metro Brands will open for subscription on December 10 just a week after another Jhunjhunwala-promoted firm hit the primary market. Star Health and Allied Insurance, however, did not receive starry response from investors, and was subscribed only 79 per cent.
RateGain Travel Technologies
RateGain’s IPO will open on Tuesday (December 7) and close on December 9. The size of the IPO is Rs 1,336 crore. RateGain has fixed the price band at Rs 405-425 per share. The lot size has been kept at 35 shares. That is, according to the upper price band, investors will have to invest at least Rs 17,875. Under this IPO, new shares worth Rs 375 crore will be issued. Whereas under the Offer for Sale (OFS), about 2.26 crore equity shares will be sold. 75 per cent of the issue is reserved for Qualified Institutional Investors (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 10 per cent for retail investors. The proceeds of the IPO will be used by the company for debt repayment, inorganic growth and general corporate purposes.
IPO of South India’s real estate firm Shriram Properties is opening on Wednesday (8 December). It will be open for investment till December 10. The size of the issue is Rs 600 crore and the price band has been fixed at Rs 113-118 per share. The lot size for the issue is 125 shares. According to the upper price of the price band, investors will have to invest at least Rs 14,750. The issue will open for anchor investors on Tuesday. In FY21, the company clocked a loss of Rs 68.17 crore against a loss of Rs 86.39 crore a year ago. During the same period, its revenue from operations went down to Rs 431.5 crore from Rs 571.96 crore.
IPO of Metro Brands, the footwear retail firm, will be open from December 10 to December 14. Rakesh Jhunjhunwala, who has a stake in this firm, plans to raise Rs 1,000 crore through this issue. New equity shares worth Rs 295 crore will be issued while the existing promoters and other shareholders of the company will sell 2.14 crore equity shares under the offer for sale (OFS). After this sale of shares, the promoters’ stake in the company will come down by about 10 per cent to 75 per cent. Metro Brands sells footwear products for all occasions, including casual and formal events.
IPO of digital map maker MapmyIndia will open on 9 December and close on December 13. The company plans to raise up to Rs 1,200 crore through listing. MapmyIndia has fixed a price band of Rs 1,000-1,033 a share. MapmyIndia IPO will be purely Offer for Sale (OFS) and the lot size has been kept at 14 shares. Investors will have to invest at least Rs 14,462 and the maximum amount that can be invested is Rs 1,88,006.
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