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IPOs Worth Rs.2,000 crore To Come Up In September
Four companies are again likely to hit the primary market and garner as much as Rs. 2000 crores.
Four companies including Bharat Road Network Limited (BRNL), matrimony.com, Capacit'e Infraprojects and Dixon Technologies are set to hit the primary market and raise a total of over Rs. 2000 crore in the September month.
Until now, as many as 15 companies have together mopped up Rs12,589.94 crore through IPO issue as per the data from Prime Database, a primary market tracker company. The data further throws light that in the year 2015 and 2016, 47 companies raised Rs. Rs 40,107 crore.
Srei Infrastructure Finance Ltd, the parent company of BRNL said that the company will come up with its initial share shall on September 6 and the issue is expected to mop up Rs. 600- Rs. 700 crore. The mopped up funds are likely to be invested in the company's subsidiary arm.
Meanwhile, Matrimony.com is also gearing up to come up with its Rs. 500 crore worth IPO issue in the first half of September. The share sale of the company shall include a fresh issue of shares that total to Rs. 130 crore and an OFS of upto 3.7 million shares. The proceeds will be used in the advertising and other promotional activities of the concern, buying of land for setting up of an office in Chennai and repayment towards overdraft facility.
Dixon Technologies is expected to raise Rs. 600-Rs. 650 crore through the IPO issue. The funds shall be garnered for debt repayment as well as for establishing a manufacturing facility for LED TV and also for improving other existing facilities of the company. The part stake of Motilal Oswal in the company will be sold through the IPO issue.
Another company Capacit'e Infraprojects, Mumbai-based real estate company is planning to raise Rs400 crore through initial share sale. The proceeds will be utilized for buying capital assets, general corporate purposes as well as working capital requirements.
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