Four New IPOs to hit Dalal Street on July 12
The SLP mainboard list is inactive, while the small and medium enterprise (SME) list of the primary market remains busy. A total of four companies will be entering Dalal Street to launch their fresh issues to raise Rs 133.34 crore, on July 12. These public issues will be closed on July 16.
Aelea Commodities IPO
The agricultural products trader wants a net return of Rs.51 crore to be mobilized through its first public offer of shares, which will only contain a fresh issue of 53.68 lakh equity shares. Due to this change in the price band, the book-built issue has been finalized at Rs.91–95 per share.
The company, which processes and trades cashews, has already received Rs 14.52 crore from five investors through an anchor book at the upper price range. Strategic Sixth Sense Capital Fund, Saint Capital Fund, Rajasthan Global Securities, SB Opportunities Fund I, and Leading Light Fund VCC – The Triumph Fund acquired 15.28 lakh equity shares.
Part of the net fresh issue proceeds will be used for the setting up of a new manufacturing unit with he installation of plant and machinery and the purchase of plant and machinery for its existing manufacturing unit. In addition, the remaining amount will be used for other general corporate needs.
Sati Poly Plast IPO
This packaging material maker aims to commit Rs.17.6 crore through its public issue of 13.35 lakh equity shares. This is also a book-built issue still carrying a price range of Rs.123–130 per share.
The public issue of the stock was opened on July 12, and before this, NAV Capital VCC, Astorne Capital VCC and Craft Emerging Market Fund PCC invested Rs.4.92 crore. They bought 3.79 lakh equity shares at a price of Rs.130 per share, which analysts called the upper or highest price limit.
The establishment of this company, located in Bihar, reveals that it plans to use the IPO required with most of the funds to cater for working capital needs and the rest for other corporate uses in the business.
Prizor Viztech IPO
The security and surveillance solutions provider is expected to mop up Rs.25.15 crore through its initial public offer, which has only a fresh issue of up to 28.91 lakh equity shares. The price band for the book-built issuance has been set at Rs.82-87 per share.
The Ahmedabad-based company already managed to increase the money in its possession through the first funding round to Rs 7.08 crore through the anchor book, which was kept open for a single day on July 11. This was evidenced by sponsors from four investors in the company’s anchor book, comprising Nova Global Opportunities Fund PCC-Touchstone, Next Orbit Ventures Fund, Vikasa India EIF I Fund-Incube Global Opportunities and Craft Emerging Market Fund PCC-Elite Capital Fund. They bought 8.14 lakh equity shares at Rs.87 per share.
Pioneered in LED picture televisions, monitors and touch panels. Prizor has planned to use the funds raised through a fresh issue of shares for establishing a display centre and inventory storage in Ahmedabad, working capital and other corporate needs.
Three M Paper Boards Initial Public Offer (IPO)
The recycled paper-based duplex board product maker is going to mobilize Rs.39.83 crore by conducting an initial public offering of 57.72 lakh equity shares at the upper price band.
The price band for the book-built issue has been pre-declared at Rs.67–69 per share.
This is a Malaysia-based paper manufacturer that offers products for packaging food and beverages, pharmaceuticals, cosmetics and consumer products. Three M Paper will utilize IPO funds for use in installing new equipment, redesigning certain processes under existing manufacturing facilities and installing a low-pressure plastic-fired boiler. Besides, Investcorp will also use the fresh issue money to finance long-term working capital needs, to retire obligations, and for any other possible specific corporate usage.
Furthermore, on July 22, Prizor Viztech and Sati Poly Plast will list their equity shares on the NSE Emerge, whereas trading in Aelea Commodities and Three M Paper Boards will begin on the BSE SME.
