After a substantial pause in the primary market activity, the street will again see back to back IPO offers. Today, also SEBI gave a go ahead to 2 IPOs; one by Glenmark Life Sciences and the other of Utkarsh Small Finance Bank. Meanwhile, GoAir IPO is also expected to get SEBI clearance in July and would likely come up with its IPO in August this year.
So, if you are keen to tap the primary market route for probable listing gains/ and long term investment amid strong sentiment in the secondary market, here are the IPO offers that are set to hit soon:
1. Shyam Metallics:
IPO size: Rs. 909 crore
Offer period: June 14- June 16, 2021
Issue details: Fresh issue of equity shares aggregating up to Rs. 657 crore
OFS of equity shares totaling to Rs. 252 crore
Bid lot- 45 shares and in multiples thereof
Price band- Rs. 303- 306
For the retail investors- 35% of the net offer is reserved
Book running lead manager: Axis Capital, ICICI Securities, IIFL Securities, JM Financial, SBI Capital Markets
Registrar: KFin Technologies Pvt. Ltd.
The Kolkata based Shyam Metallics and Energy is a top manufacturer of ferro alloys in India. The company's customers include Jindal Staniless Steel, BHEL, SAIL and JSW Steel among others. Earlier also the company reached out to the capital markets and got approval from SEBI in 2019 but then deferred its IPO plan.
Promoters and promoter group entities of the company who will pare stake via the OFS are Subham Capital, Kalpataru Housefin & Trading, Toplight Mercantiles, Narantak Dealcomm, Dorite Tracon and Subham Buildwell.
The proceeds from the issue will be put towards pre-paying or repaying the company's and its subsidiary's-Shyam SEL and Power's debt worth Rs. 470 crore and other general corporate tasks.
As per the IPO Mantra site, the shares of Shyam Metallics commanded a grey market premium of Rs. 140 (appx)
2. Sona BLW Precision Forgings:
IPO size: Rs. 5550 crore
Issue offer period: June 14-June 16, 2021
BRLM- Kotak Mahindra Capital, Credit Suisse, JP Morgan India, JM Financial and Nomura
Auto components manufacturer's public offer
shall comprise a fresh issuance of shares worth Rs. 300 crore. Also, the issue shall comprise an offer for sale by the company's shareholders. A Blackstone company Singapore VII Topco III Pte. Ltd will pare its holding in the firm which is currently at 66.28 percent.
The company shall use the sum mopped up through the issue for pre-paying or repaying some of its borrowings.
This shall be the second big IPO by Blackstone entity this year after mortgage financing company Aadhar Housing finance filed its DRHP with SEBI for a Rs. 7300 crore IPO.
3. Navoday Enterprises:
The company currently into 3 business segments namely, marketing support and advertising, management and financial consultancy and component supply and support services to packaging and allied machines' manufacturers is all set to come up with its IPO offer.
Offer period: June 14- June 17, 2021
Issue size: 2,304,000 Equity Shares of Rs. 10
(aggregating up to Rs.4.61 Crore
Price band - Rs. 20 per share
Face value- Rs. 10 per share
Minimum bid quantity- 6000 shares
Listing shall be: At BSE SME
As per the company, Rs. 43.68 crore worth of shares will be termed as net issue while 1.2 million shares valued at Rs. 24 lakh shall be available for market makers. The proceeds mopped up from the issue will be used for meeting working capital requirements and other general corporate purpose.