The Rs 510.15-crore IPO consists of a fresh issue of 4.18 crore equity shares worth Rs 397.1 crore, and an offer-for-sale of 1.19 crore shares worth Rs 113.05 crore by promoters.
Tunwal E-Motors, an electric vehicle manufacturing company, will open for subscription on July 15, at a price of Rs 59 per share.
The 1.96-crore equity shares IPO is a combination of fresh issue of 1.38 crore shares worth Rs 81.72 crore, and an offer-for-sale of 57.5 lakh shares worth Rs 33.93 crore.
It will utilise the fresh issue proceeds on working capital requirements, research and development, pursuing inorganic growth, and general corporate expenses.
Kataria Industries IPOKataria, a low relaxation pre-stressed concrete (LRPC) strands and steel wires manufacturing company, will open its maiden public issue for subscription on July 16.
IPOs to hit Dalal Street next week
Given the optimism in the secondary market with benchmark indices trading at new highs, the IPO segment remains active in the coming week too, (starting July 15) as four companies will be launching their maiden public issues, planning to raise Rs 700 crore.
Sanstar IPO
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This will be the only initial public offering from the mainboard segment, opening next week on July 19, with a price band of Rs 90-95 per share. The Rs 510.15-crore IPO consists of a fresh issue of 4.18 crore equity shares worth Rs 397.1 crore, and an offer-for-sale of 1.19 crore shares worth Rs 113.05 crore by promoters.
The bidding for the book built issue will close on July 19.
Sanstar, which manufactures specialty plant-based products and ingredient solutions for food, pet food and other industrial applications will spend the fresh issue proceeds on expanding its Dhule facility, repaying debt, and general corporate purposes.
Tunwal E-Motors IPO
The remaining three public issues hitting Dalal Street next week will be from the SME (small and medium enterprise) segment. Tunwal E-Motors, an electric vehicle manufacturing company, will open for subscription on July 15, at a price of Rs 59 per share. This will be the largest amongst the three companies, mobilising Rs 115.64 crore.
The 1.96-crore equity shares IPO is a combination of fresh issue of 1.38 crore shares worth Rs 81.72 crore, and an offer-for-sale of 57.5 lakh shares worth Rs 33.93 crore. The last day to bid for the issue is July 18.
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Tunwal E-Motors competes with Wardwizard Innovations & Mobililty, and TVS Motor. It will utilise the fresh issue proceeds on working capital requirements, research and development, pursuing inorganic growth, and general corporate expenses.
Kataria Industries IPO
Kataria, a low relaxation pre-stressed concrete (LRPC) strands and steel wires manufacturing company, will open its maiden public issue for subscription on July 16. The price band for the book built issue has been fixed at Rs 91-96 per share.
It plans to raise Rs 54.58 crore through IPO, comprising solely a fresh issue. These funds will be used mainly on capital expenditure for plant and machineries, repaying debts, and general corporate purposes. It will close on July 19.
Macobs Technologies IPO
Rajasthan-based Macobs, which offers products for male grooming, will also be launching its Rs 19.46-crore public issue on July 16, and closing on July 19, with a price band of Rs 71-75 per share.
The company intends to use the IPO funds on customer acquisition through marketing and awareness, repaying debts, working capital requirements, and general corporate purposes.
In addition, Sahaj Solar will close its initial public offering on July 15, while the last day for subscribing to Aelea Commodities, Sati Poly Plast, Prizor Viztech, and Three M Paper Boards IPOs will be July 16. All these public issues were launched in previous week.
On the listing front, Sahaj Solar will be the only company making a debut on the NSE Emerge next week on July 19. Its IPO shares, so far, garnered robust interest from investors, trading at around 90-95 percent premium over the upper price band, market observers said.
