Get ready for a wave of exciting investment opportunities as JNK India, Premier Energies, and Sanathan Textiles gear up for their upcoming IPO initiatives. JNK India is set to debut its IPO from April 23 to April 25, offering fresh shares worth Rs 300 crore. Meanwhile, Premier Energies has filed for a substantial Rs 1,500 crore IPO with SEBI. What’s the idea behind its IPO? Additionally, Sanathan Textiles aims to raise Rs 800 crore through its IPO.
Upcoming IPOs in the Indian Market| Key Highlights
- JNK India’s IPO offers fresh shares worth Rs 300 crore and an expected post-issue market capitalisation of Rs 2,300 crore.
- Premier Energies files for a substantial Rs 1,500 crore IPO with SEBI.
- Sanathan Textiles aims to raise Rs 800 crore through its IPO, involving a fresh issuance of Rs 500 crore and an offer-for-sale of Rs 300 crore shares.
- Vodafone Idea, India’s third-largest telecom operator, is accepting subscriptions until April 22.
- These IPOs reflect strategic growth plans, with Premier Energies focusing on solar energy and Sanathan Textiles expanding its yarn products business.
Vodafone Idea FPO
Vodafone Idea, India’s third-largest telecom operator, aims to strengthen its financial position by raising Rs 18,000 crore through a share sale. This FPO, which is India’s largest to date, started accepting subscriptions on April 18 and will close on April 22.
The Vodafone Idea FPO comprises only fresh issue shares, totalling over 1,636 crore equity shares offered by the company at a price band of Rs 10-11 per share. Investors can bid for a minimum of 1,298 equity shares, with subsequent bids in multiples of 1,298 shares.
JNK India IPO
Maharashtra-based JNK India has set a price band of Rs 395-415 per share for its upcoming IPO, scheduled to open for subscription on April 23 and close on April 25. Anchor investors can place their bids on April 22.
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The IPO consists of fresh shares worth Rs 300 crore and an offer-for-sale of up to 8.42 million shares by existing shareholders and promoters. At the upper price band, the issue size is expected to be Rs 650 crore, with a post-issue market capitalisation of Rs 2,300 crore.
Sanathan Textiles Plans Rs 800 Crore IPO
Sanathan Textiles, a company that makes yarn products, has reapplied to the SEBI (capital markets regulator) to raise Rs 800 crore through its initial public offering (IPO).
Key Details of the Sanathan Textiles IPO
| IPO Amount | Rs 800 crore |
| Fresh Issuance | Rs 500 crore |
| Offer-for-Sale | Rs 300 crore |
| Debt Repayment | Rs 175 crore |
| Working Capital | Rs 210 crore |
| Pre-IPO Placement | Up to Rs 100 crore |
The IPO involves two parts:
- Fresh Issuance: They want to issue new equity shares worth Rs 500 crore.
- Offer-for-Sale (OFS): Promoters plan to sell existing shares worth Rs 300 crore.
Previous Attempt
Earlier, in January 2022, Sanathan Textiles tried to go public with an IPO valued at Rs 1,300 crore. The regulator approved this plan in May 2022 but put it on hold.
New Plans of Sanathan Textiles IPO
Before officially launching the IPO, the company may raise up to Rs 100 crore through a pre-IPO placement.
Usage of Funds
From the fresh issuance proceeds:
- Rs 175 crore will go towards repaying debts.
- Rs 210 crore will support long-term working capital for their subsidiary, Sanathan Polycot.
- The rest will be for general company needs.
Business Overview
Sanathan Textiles specialises in yarn products, offering over 2,800 types and more than 30,000 product variations. They focus on polyester, cotton, and technical/industrial yarns.
Their products are made in Silvassa, with a total capacity of 2,23,750 metric tonnes per annum across their three yarn categories.
Management of IPO
DAM Capital Advisors and ICICI Securities will manage the IPO process.
Premier Energies Plans Rs 1,500 Crore IPO
Premier Energies, a major manufacturer of solar cells and modules, has filed initial paperwork with SEBI to raise funds through an initial public offering (IPO).
Key Details of the Premier Energies IPO
| IPO Amount | Rs 1,500 crore |
| Fresh Issuance | Rs 1,500 crore |
| Offer-for-Sale | 2.82 crore equity shares |
| Ownership Breakdown | Promoters: 72.23% <br> Public Shareholders: 26.12% <br> Employees: 1.65% |
| Pre-IPO Placement | Up to Rs 300 crore |
The IPO will include:
- Fresh Issuance: Premier Energies plans to issue new equity shares worth Rs 1,500 crore.
- Offer-for-Sale (OFS): Existing shareholders will sell 2.82 crore equity shares through this process.
Shareholders and Ownership
Promoters currently hold a 72.23 percent stake (fully diluted), while public shareholders, including South Asia Growth Fund II Holdings LLC and South Asia EBT Trust, hold 26.12 percent. Employees own 1.65 percent of the company.
Potential Pre-IPO Placement
Before officially launching the IPO, Premier Energies might raise Rs 300 crore through a pre-IPO placement.
Usage of Funds
The company plans to use Rs 1,168.74 crore from the fresh issue proceeds to establish a new manufacturing facility for solar PV TOPCon cells and modules in Hyderabad. The remaining funds will support general corporate needs.
Business Overview
Premier Energies is a leading solar cell and module manufacturer, boasting an annual installed capacity of 2 GW and 3.36 GW, respectively.
Financial Performance
While reporting a consolidated loss of Rs 13.3 crore for FY23 (March), the company turned profitable in the nine-month period ending December FY24, with a profit of Rs 127.4 crore.
Management of IPO
Kotak Mahindra Capital Company, JP Morgan India, and ICICI Securities will manage the IPO process.
Conclusion
The upcoming IPOs by JNK India, Premier Energies, and Sanathan Textiles represent promising investment opportunities in diverse sectors. These IPOs signal growth and expansion strategies.
You can invest in these upcoming IPOs at zero brokerage!
Source– moneycontrol.com, moneycontrol.com, moneycontrol.com
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