IPO Of 4 Companies To Hit Stock Markets This Month

By Sneha B K
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    To tap strong investor sentiments, four companies including Dilip Buildcon and Navkar Corp plans to hit the capital markets this month, to raise an estimated over Rs 1,800 crore through initial public offers (IPOs).

    The other two companies are Power Mech Projects and Prabhat Dairy. Check here to know about recent IPOs.

    IPO Of 4 Companies To Hit Stock Markets This Month

    The bidding for shares in Power Mech's IPO will open on August 7 and close on August 11, while the remaining three firms will hit the capital markets later this month, sources said.

    The equity shares will be listed on BSE and National Stock Exchange (NSE).

    Together, these firms are planning to mop-up an estimated Rs 1,820 crore through the initial share plans.

    The funds raised through the public offers would be used for expansion plans, repayment of loans, to meet working capital requirements and general corporate purposes.

    Individually, infrastructure firm Dilip Buildcon's IPO comprise of fresh issue of equity shares worth up to Rs 650 crore and offer for sale of up to 1.49 crore equity shares by its existing shareholders.

    Maharashtra-based Navkar Corp would mobilise up to Rs 510 crore by issuing fresh equity shares and it would rake in up to Rs 90 crore through sale of existing shares.

    Prabhat Dairy, an integrated milk and dairy products company, plans to mobilise up to Rs 300 crore by issuing fresh equity shares and offer for sale of up to 1.47 crore equity scrips, while Power Mech Projects plans to raise nearly Rs 270 crore through its IPO.

    After a quiet 2014, IPO market is buzzing again as nine IPOs have already hit the market this year and many others in the pipeline, including popular brands like IndiGo, Cafe Coffee Day and Matrix.

    These nine firms have raised nearly Rs 4,550 crore via IPOs. In comparison, a total of six IPOs had hit the market in the entire 2014 and together garnered just Rs 1,528 crore.

    The flurry of activities also comes at a time when Sebi has announced a slew of fresh reforms in the IPO space, including halving the listing period to six days.

    PTI

    Read more about: ipo stock markets
    Story first published: Tuesday, August 4, 2015, 14:44 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more