Despite ups and downs in the stock market, the primary market is buzzing with activity. Four companies are ready to launch their IPOs this week. Let us explore their upcoming IPOs.
Primary Market Activity| Upcoming IPO Listings this Week
- The primary market will see one mainboard segment’s initial public investment opportunity, i.e. Entero Healthcare.
- Notable upcoming IPO listings include Apeejay Surrendra Park Hotels, Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank.
- Entero Healthcare Solutions, a Haryana-based healthcare products distribution company, is closing its IPO worth Rs 1,600 crore on February 13.
- Gold Plus Glass Industry and Akums Drugs & Pharmaceuticals Ltd file IPO papers with SEBI, aiming to raise funds for various purposes, including debt repayment and expansion.
Upcoming IPO Listings in India
- Apeejay Surrendra Park Hotels– February 12th
- Rashi Peripherals– February 14th
- Jana Small Finance Bank- February 14th
- and Capital Small Finance Bank– February 14th
- Entero Healthcare Solutions– February 16th
Entero Healthcare Solutions IPO
Entero Healthcare Solutions, a healthcare products distribution company based in Haryana, is set to close its IPO worth Rs 1,600 crore on February 13. The IPO, priced between Rs 1,195 and Rs 1,258 per share, has attracted investor interest and will be open for subscription from February 9 to 13.
- Apeejay Surrendra Park Hotels, a Kolkata-based hotel chain, will be the first to debut on February 12, with its IPO worth Rs 920 crore.
- Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank will list their equity shares on February 14.
- Entero Healthcare Solutions shares will be available for trading from February 16.
- Rashi Peripherals IPO was oversubscribed 59.71 times during February 7-9.
- Jana Small Finance Bank and Capital Small Finance Bank IPOs were oversubscribed 18.5 times and 4 times, respectively during the same period.
In the grey market, Park Hotels shares are trading at around a 23 percent premium over the issue price. Similarly, Rashi Peripherals and Jana Small Finance Bank shares are available with premiums of around 25 percent and 10 percent respectively.
However, Capital Small Finance Bank IPO saw a more modest premium of 4-5 percent according to market observers.
Upcoming IPOs in India
Here are two companies that are in the news to have filed IPO papers to SEBI:
Gold Plus Glass Industry Submits IPO Papers to SEBI
Gold Plus Glass Industry Submits IPO Papers to SEBIGold Plus Glass Industry has submitted draft papers to the SEBI for its IPO. The company plans to raise funds through an IPO (initial public offering.)
The Gold Plus Glass Industry IPO consists of fresh issuance of equity shares worth Rs 500 crore and an offer-for-sale (OFS) of 1.57 crore equity shares by promoters and investors.
Promoters Suresh Tyagi and Jimmy Tyagi will sell 10.2 lakh equity shares each in the OFS, while investors PI Opportunities Fund – I and Kotak Special Situations Fund will offload 1.03 crore shares and 33.5 lakh shares, respectively. Currently, promoters hold a 70.44 percent equity stake, while public shareholders, including PI Opportunities Fund – I (PIOF 1) and Kotak Special Situations Fund (KSSF), hold 29.56 percent shareholding.
Following the completion of the second phase of its planned expansion, the company started testing its solar glass line in December 2023 and expects to begin full-scale production in February 2024.
Objectives of Gold Plus Glass Industry IPO
The company plans to use Rs 400 crore from the net proceeds of the fresh issue to pay off its debt, which amounted to Rs 1,389.9 crore as of September 2023.
The issue is managed by IIFL Securities, Axis Capital, Kotak Mahindra Capital Company, and SBI Capital Markets as the book-running lead managers.
Akums Drugs Files IPO Papers with SEBI, Aims for Rs 680 Crore Fresh Issue
Akums Drugs & Pharmaceuticals IPO includes a mix of fresh equity shares valued at Rs 680 crore and an offer-for-sale of 1.86 crore shares by promoters and an existing investor, as per the draft red herring prospectus (DRHP) filed on Saturday.
About Akums Drugs and Pharmaceuticals Ltd
Established in 2004, Akums is a pharmaceutical contract development and manufacturing organisation (CDMO) serving clients such as Alembic Pharmaceuticals, Alkem Laboratories, Cipla, Dabur India, Dr Reddy’s Laboratories, and Sun Pharmaceutical Industries, among others, as of September 30, 2023.
Akums Drugs and Pharmaceuticals Ltd, based in Delhi, seeks to raise Rs 136 crore through a pre-IPO placement. Sanjeev Jain, Sandeep Jain, and Ruby QC Investment Holdings Pte Ltd are selling shares in the OFS.
If the pre-IPO placement occurs, the fresh issue size will be reduced. The funds from the fresh issue will be used for debt repayment, working capital, acquisitions, and general corporate purposes.
The upcoming IPOs offer promising investment avenues in various sectors, from healthcare to hospitality. As these companies make their debut in the market, investors should closely monitor their performance and consider seizing the opportunity to diversify their portfolios.
Stay informed, stay ahead, and explore the potential of these IPOs for your investment journey.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.