Mumbai, India: The Indian primary market is abuzz with excitement as three major companies gear up to launch their initial public offerings (IPOs) this week. These companies, backed by strong fundamentals and investor confidence, are collectively aiming to raise nearly Rs 6,400 crore. Let’s take a closer look at each of these IPOs:
1. Aadhar Housing Finance
- Background: Aadhar Housing Finance, with Blackstone’s backing, is set to make waves in the IPO market. The company plans to raise Rs 3,000 crore through its offering.
- IPO Details:
- Fresh Issue: Rs 1,000 crore (equity shares)
- Offer-for-Sale (OFS): Rs 2,000 crore (by promoter BCP Topco VII Pte Ltd)
- Price Band: Rs 300 to Rs 315 per share
- Use of Proceeds:
- Rs 750 crore for onward lending
- General corporate purposes
2. Indegene
- Healthcare Tech Firm: Indegene, a player in the healthcare technology space, is eyeing an IPO worth Rs 1,842 crore.
- IPO Details:
- Fresh Issue: Up to Rs 760 crore (equity shares)
- OFS: Up to 2.34 crore equity shares (Rs 1,082 crore by existing shareholders)
- Price Band: Rs 430 to Rs 452 per share
- Shareholding:
- Nadathur Fareast Pte Ltd holds the largest stake (23.64%)
- CA Dawn Investments (20.42%)
- Brighton Park Capital (12%)
- Utilization of Funds:
- Debt repayment
- Capital expenditure
- Inorganic growth
3. TBO Tek
- Travel Distribution Firm: TBO Tek’s maiden IPO combines fresh equity shares and an OFS.
- IPO Details:
- Fresh Issue: Up to Rs 400 crore
- OFS: Up to 1.25 crore equity shares (Rs 1,151 crore by promoters and investors)
- Purpose:
- Platform expansion
- General corporate needs
Changing Trends
Historically, May has been a quiet period for IPO launches due to election-related uncertainty. However, this trend is shifting. Experts view the simultaneous IPO launches as a positive sign, reflecting the maturing of Indian capital markets and confidence in the country’s long-term growth story. Samir Bahl, CEO of Anand Rathi Advisors, emphasized that this trend transcends political developments.
Investors should exercise due diligence and consider the risks associated with IPO investments. Always consult with financial advisors before making any investment decisions.
Those selling shares in the OFS are promoters — Gaurav Bhatnagar, Manish Dhingra and LAP Travel — and investors– TBO Korea and Augusta TBO.
The company has set a price band of Rs 875 to Rs 920 per share for its IPO. At the upper end of the price band, the IPO size is pegged at Rs 1,551 crore.
Proceeds from the fresh issue will be used for the growth and strengthening of the platform by adding new buyers and suppliers, and unidentified inorganic acquisitions, besides, a portion will be used for general corporate purposes.
Disclaimer: This news article is for informational purposes only and does not constitute financial advice. All figures mentioned are based on available sources. Investors should conduct their own research before investing.
