The financial year 2022 has been crazy for the IPO markets with as many as 56 companies floating their issues and having raised Rs. 1 trillion in 8 months time. The companies' and investors alike tapping the current momentum.
So after 3 IPOs have hit so far this week and 2 more are in the pipeline, here we tell you about the IPOs that have made an official announcement to hit last week.
MedPlus Health Services Ltd IPO
Offer period: December 13-15
Price band: 780-796
Bid lod-18 shares
Size: Rs. 1397.81 crore
Retail quota reservation:35%
Established in 2006, MedPlus is the country's second leading pharmacy retail chain having a mix of fresh equity worth Rs. 600 crore and an OFS aggregating up to ₹798 crore by promoter and existing shareholders. Proceeds of the fresh issue will be put towards financing working capital requirements of the company's subsidiary, Optival. The products being distributed range from medicines, wellness to personal care products.
The company is of the view that it future growth primarily rests on sales as well as its retail footprint.
Data Patterns IPO:
Offer period: December 14-December 16, 2021
Price band: to be announced
Lot size-to be announced
Fresh issue of Rs. 240crore plus offer for sale of 5.95 million shares. Notably, the fresh issuance size was reduced after Rs. pre-IPO placement in which Rs. 60 crore were raised.
Data Patterns is a defence and aerospace electronic solutions providing entity with offerings such as processors, power, radio frequencies and microwave, embedded software.
The funds mopped from the issue will be put towards repaying loans, working capital requirements, upgrading and expanding facilities at Chennai, and general corporate purposes.
HP Adhesives IPO:
Offer period: December 15-December 17
Fresh issue shall be of 41.4 lakh shares while OFS will include share offloading of 4.57 lakh shares.
The proceeds from the issue will be put towards expansion of production capacity at the company's current facility at village Narangi, Raigad, Maharashtra and at the additional unit on the adjacent plot, and as also for working capital requirement. It shall be the 10th IPO to hit this December.