Upcoming IPOs For The Week of 25 May

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    In the financial year 2018, primary markets witnessed its highest fund raising, signaling that the IPO (initial public offering) market in India has now matured. Rs 82,109 crore was raised through 45 IPOs in the FY 2018 against Rs 28,225 crore from 25 IPOs in FY 2017.

    Upcoming IPOs For The Week of 25 May
     

    The three IPOs coming up in the coming week are:

    1. Latteys Industries Ltd.

    • Business: Manufacturing of pumping solutions for homes, agriculture and industrial sectors.
    • Background: It was incorporated in 2013 and has its manufacturing unit in GIDC Naroda, Gujarat with an installed production capacity of 1,59,500 pumps p.a. and has 76 employees.
    • Promoters: Kapoor Chand Garg and Pawan Garg hold 31,03,760 equity shares that make up for 91.89 percent of the pre-issue paid-up capital.
    • Financials: Its total assets amounted to Rs 26.11 crores, total revenue Rs 35.77 crore and profit after tax was Rs 55.62 lakhs as of 31 March 2017.
    • Objective of the issue: Funding working capital and general corporate purposes.
    • Issue Details: The IPO will be open between May 23 and May 28, 2018. The company aims to raise Rs 8.06 crore through sale of 1,222,000 equity shares with the face value of Rs 10 per share and issue price of Rs 66 per share. It will be listed on NSE SME.

    2. Shree Vasu Logistics Ltd

    • Business: Logistics services like carrying and forwarding agent, warehousing and inventory management and distribution management through secondary transportation. 
    • Background: The Chattisgarh based company was incorporated in 2007 and has positioned itself as third party logistics provider serving diverse industries like FMCG, Automotives, food, Electronics, Industrial Equipments and Electricals, Lifestyle Products etc. It has 366 employees.
    • Promoters: Atul Garg and Shree Bhushan Gargan aggregate of 50,04,000 equity shares and represent 89.68 percent of the pre-issue paid up capital.
    • Financials: Its total assets amounted to Rs 27.29 crores, total revenue Rs 27.69 crore and profit after tax was Rs 78.69 lakhs as of 31 March 2017.
    • Objective of the issue: Funding working capital and general corporate purposes.
    • IPO Details: The IPO will be open between May 23 and May 25, 2018. The company aims to raise Rs 9.29 crore through sale of 2,064,000 equity shares with the face value of Rs 10 per share and issue price of Rs 45 per share. It will be listed on NSE SME.

    3. Affordable Robotic and Automation Ltd

    • Business: Turnkey automation solution to automotive, semi-automotive and manufacturing industries.
    • Background: The company was incorporated in 2010 and has assembly facility of 8,442 sq. meters. It has 366 employees.
    • Promoters: Milind Padole and Manohar Padole.
    • Financials: Its total assets amounted to Rs 5390 million, total revenue Rs 4039 million and profit after tax was Rs 395.63 million as of 31 March 2017.
    • Objective of the issue: Purchase new plant and machinery, repayment of long-term borrowings, funding working capital and general corporate purposes.
    • IPO Details: The IPO will be open between May 24 and May 28, 2018. The company aims to sell 36,67,200 equity shares with the face value of Rs 10 per share and issue price band of Rs 83 to 85 per share. It will be listed on NSE Emerge.

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