After a lackluster period for initial public offerings (IPOs) in recent months amid the deadly second wave of the pandemic in India, companies are now lining up for initial public offerings (IPOs) that could make 2021 a busy year for public offerings. Here is the list of public offerings that are expected to open next week.
Initial public offering opens next week:
Shyam Metalics: Integrated metals production company Shyam Metalics and Energy on Tuesday set a price range of â¹303-306 a share for his â¹909 crore initial public offering (IPO). The three-day IPO will open on June 14 and close on June 16, and the tender for primary investors will open on June 11.
The company intends to use the net proceeds of the new issue for the redemption or early redemption of â¹470 crore of its debt and that of its subsidiary, Shyam SEL and Power; and for other general corporate purposes.
Navoday Enterprises: Marketing and event company Navoday will open its IPO on June 14 with a price range set at â¹20 each. The show will close on June 17 and the firm aims to raise nearly â¹46.08 crores.
The company said 1.2 million shares of â¹24 lakh will be reserved for market makers and the rest of the â¹43.68 crore will be called as net issue. The proceeds from the issue will be used for working capital requirements and for the general purpose of the business.
In addition, the IPO of Abhishek Integration Limited started this week on Tuesday June 8 and will close on June 11. The company plans to issue 9.9 lakh shares at a price of â¹50 each, aiming to â¹4.95 crores. The issue consists of up to 54,000 shares for market participants and the remaining 9.36 lakh shares will be referred to as net issue.
In recent months, many companies have filed the draft prospectus of their public offering with the market regulator Securities and Exchange Board of India (SEBI), which is expected to open in 2021.
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