This week, Dalal Street will be buzzing with activity as four firms file for initial public offerings.
CarTrade Tech, a multi-channel car platform, will launch its initial public offering for subscription on August 9-11. The offer’s price range has been set at Rs 1,585–1,618 per equity share. The IPO is a full offer by the selling shareholders to sell 1,85,32,216 equity shares. The business intends to raise Rs 2,998.51 crore through the offer, which would be priced at the top of the pricing range. As the offer is a comprehensive offer for sale, the firm will not receive any cash.
Nuvoco Vistas Corporation
From August 9 to 11, Nuvoco Vistas will launch its public offering for bidding. The offer’s price range has been set at Rs 560-570 per equity share. The business intends to raise Rs 5,000 crore through its public offering, which would include a fresh issue of Rs 1,500 crore and an offer for sale by founder Niyogi Enterprise of Rs 3,500 crore. On August 6, it had already secured Rs 1,500 crore from anchor investors. Nuvoco Vistas plans to use the Rs 1,350 crore in net proceeds from the new issuance to settle (in part or in full) certain debts and for general corporate purposes.
Aptus Value Housing Finance
Aptus Value Housing Finance India has set the price band for its first public offering at Rs 346-353 per equity share. Subscriptions for the public offer will be available from August 10 to 12. If there is an anchor book, it will open one working day before the issue opens, i.e. 9th of August. Existing selling shareholders can sell up to 6,45,90,695 equity shares in the IPO, which includes a fresh issue of Rs 500 crore. The entire amount raised is Rs 2,780.05 crore. The new issue’s net proceeds will be used to supplement tier I capital needs.
On August 10, specialty chemicals producer Chemplast Sanmar will go public. The promotion will end on August 12th. The business plans to raise Rs 3,850 crore through a public offering that includes a new issuance of Rs 1,300 crore and a promoter offer for sale of Rs 2,550 crore. Sanmar Holdings and Sanmar Engineering Services, the promoters, would sell shares worth Rs 2,463.44 crore and Rs 86.56 crore, respectively. The net proceeds from the new issuance would be used to pay down non-convertible debentures early (totaling Rs 1,238.25 crore) and for general corporate purposes. The issue’s worldwide coordinators and book running lead managers are ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit, BOB Capital Markets, and HDFC Bank. The book running lead managers for the offer is IndusInd Bank and YES Securities (India).