The primary market is bustling with activity as several companies prepare to enter the public market arena. Among the notable upcoming IPOs set to launch are Juniper Hotels and GPT Healthcare.Â
Key Highlights of the Upcoming IPOs This Week
- Juniper Hotels IPO opens on February 21 and closes on February 23, valued at Rs 1,800 crore.
- Funds from Juniper Hotels IPO (Rs 1,500 crore) will go towards debt repayment.
- GPT Healthcare IPO starts on February 22, aiming for Rs 450-550 crore.
- GPT Healthcare will use IPO funds for debt repayment and general corporate purposes.
- Vibhor Steel Tubes lists on February 20, with significant investor interest.
- Gala Precision Engineering and Tolins Tyres file for IPOs, aiming to raise funds for expansion and debt repayment.
Let us explore the key details of these upcoming IPOs and listings this week.
Juniper Hotels IPO
Juniper Hotels’ IPO is set to open on February 21 and close on February 23.
The initial public offering is valued at Rs 1,800 crore.
- It comprises only a fresh issue by the company, owned by Saraf Hotels, its affiliate Juniper Investments, and Two Seas Holdings, an affiliate of Hyatt Hotels Corporation.
- The Juniper Hotels IPO price band ranges from Rs 342 to Rs 360 per share.
Utilisation of Funds
- The company, operating seven hotels and serviced apartments, intends to utilise Rs 1,500 crore of the net fresh issue proceeds for debt repayment.
- As of September 2023, its total outstanding borrowings stood at Rs 2,252.75 crore.
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GPT Healthcare IPO
Kolkata-based hospital chain GPT Healthcare will commence its maiden public issue on February 22.
- The IPO size is estimated to be around Rs 450-550 crore.
- It consists of a fresh issuance of shares worth Rs 40 crore by the company and an offer-for-sale (OFS) of 2.6 crore equity shares by private equity fund BanyanTree Growth Capital II, LLC.
- BanyanTree will exit the company through the IPO.
- GPT healthcare IPO subscription closes on February 26.
Utilisation of Funds
GPT Healthcare plans to utilise the fresh issue proceeds for debt repayment and general corporate purposes.
The company operates four hospitals under the ILS brand in West Bengal and Tripura, boasting a total capacity of 561 beds.
IPO Listings This Week
In the upcoming week, a total of seven companies are scheduled for listing, including one from the mainboard segment, Vibhor Steel Tubes.
Here are the details:
Vibhor Steel Tubes IPO Listing
Vibhor Steel Tubes Limited manufactures and exports Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, and Cold rolled Steel (CR) Strips/Coils.
With over two decades of experience, their products serve diverse purposes.
This includes frames, bicycle frames, furniture, shockers, and structural and engineering applications.
- Listing Date: February 20
- Company Profile: Haryana-based steel tubes and pipes maker
- IPO Details:
- The company’s IPO was valued at Rs 72 crore.
- The IPO witnessed significant investor interest, with subscription rates reaching a massive 299 times during February 13-15.
- Grey Market Premium:
- Ahead of the listing, IPO shares were trading at around 80 percent premium over the issue price of Rs 151 per share in the grey market.
- The grey market serves as an unofficial platform for trading in IPO shares until the official listing.
Upcoming IPOs in India
Here are the details of two more IPOs that are set to launch soon:
Gala Precision Engineering Plans IPO to Raise Funds
Mumbai-based Gala Precision Engineering has taken the initial step towards launching an Initial Public Offering (IPO) by filing draft papers with the Securities and Exchange Board of India (SEBI), the capital markets regulator. The IPO is designed to raise capital for the company’s strategic initiatives. Here are the key details:
- IPO Composition:
- Fresh issue of 25,58,416 equity shares by the company.
- Offer-for-sale of 6,16,000 equity shares by existing shareholders.
- Prominent Dates:
- Draft papers filed with SEBI on February 14, 2024.
- Major selling shareholder in the Offer-for-Sale is Promoter Vishanji Harshi Gala.
- Stakeholder Participation:
- Other participants in the Offer-for-Sale include Kirit Vishanji Gala (HUF), Nayna Gala, Satish Kotwani, Hemlata Dhiraj Shah, Dhiraj Nanchand Shah, Urmil Dhiraj Shah, and Rupa Sunil Mehta.
- Promoters currently hold a 74.56 percent stake, while the remaining shares are held by the public, including Pooja Unichem LLP.
- Utilisation of Funds
Gala Precision Engineering plans to utilise Rs 37 crore from the IPO proceeds for setting up a new facility in Sriperumbuddur, Tamil Nadu.
This facility will focus on the manufacturing of high-tensile fasteners and hex bolts.
Rs 11.08 crore is earmarked for the purchase of equipment, plant, and machinery in Palghar, Maharashtra.
An additional Rs 30 crore will be allocated for debt repayment.
Tolins Tyres IPO: Announces Plans for Rs 230 Crore IPO
Kochi-based Tolins Tyres has taken a significant step towards going public.
Tolins tyres have filed draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an IPO.
About Tolins Tyres
Tolins Tyres, established in 1982, specialises in tyre retreading solutions.
It operates from three manufacturing facilities: two in Kalady, Kerala, and one in Ras Al Khaimah, UAE.
The company’s products cater to light commercial vehicles, agricultural vehicles, and two/three-wheeler manufacturers, with a substantial presence in both domestic and international markets.
Here are the key highlights:
- Tolins Tyres IPO Composition
- The IPO is set to raise Rs 230 crore.
- It includes a fresh issuance of equity shares worth Rs 200 crore.
- Additionally, there will be an offer-for-sale (OFS) of shares worth Rs 30 crore by promoters.
- Prominent Dates
- Draft papers filed with SEBI on February 16, 2024.
- Stakeholder Participation
- Promoters Kalamparambil Varkey Tolin and Jerin Tolin will be selling shares in the OFS, each offloading shares worth Rs 15 crore.
- Promoters currently hold 92.64 percent of shares in the company, with the remaining 7.36 percent held by public shareholders.
- Utilisation of Funds
- Rs 62.55 crore of the net fresh issue proceeds will be allocated for debt repayment.
- Another Rs 75 crore will be earmarked for long-term working capital requirements.
- Rs 24.37 crore will be invested in a wholly-owned subsidiary, Tolin Rubbers, with Rs 16.37 crore utilised for debt repayment and Rs 8 crore for working capital.
- The remaining fresh issue funds will be utilised for general corporate purposes.
Conclusion
These upcoming IPOs signal dynamic shifts in the market. Investors are encouraged to carefully evaluate these opportunities and consider their implications for portfolio diversification and long-term growth.
Stay informed and explore the potential of these upcoming IPOs to shape investment strategies.
Source :- moneycontrol.com/news, www.moneycontrol.com/, ipowatch.in/vibhor-steel-tubes
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