Three initial public offers (IPOs) will hit the primary market next week in order to raise a total of Rs 2,387 crore. The first IPO is by a fertilizer company Paradeep Phosphates, which will open on Tuesday, May 17.
The IPO by luxury watch retail player Ethos will open on Wednesday, May 18. And the IPO by eMudhra, India’s largest licensed certifying authority, will open on Friday, May 20.
Last week, India’s biggest-ever LIC IPO got closed, which received an overwhelming response from investors. The IPO was subscribed 2.95 times on the last day of bidding on Monday (May 9).
The issue received 13.8 crore bids from retail individual investors, against 6.9 crore shares set aside for them.
Paradeep Phosphates IPO
The issue is of ₹ 1501 crore. It will open for investment on 17th May 2022 and it will be open for bidding till 19th May 2022. The price band of Fertilizer Company Paradip Phosphate IPO has been fixed at ₹39 to ₹42 per equity.
In this IPO, an investor can apply for at least one lot. One lot of Paradip Phosphates IPO will consist of 350 company shares. The issue comprises fresh issuance of equity shares worth Rs 1,004 crore and an offer for sale (OFS) component of 11.85 crore equity shares.
The shares of the company will be listed on both NSE and BSE. The tentative dates for Paradip Phosphates IPO allotment are 24 May 2022, while the Paradip Phosphates IPO listing date is 27 May 2022.
Paradeep Phosphates has already garnered Rs 450 crore from anchor investors, including BNP Paribas NSE 2.10 % Arbitrage, Goldman Sachs, Copthall Mauritius Investment, Societe Generale, and Kuber India Fund.
Ethos IPO
The public issue will open for subscription on 18th May 2022 and it will remain open for subscription till 20th May 2022. The price band of the public issue worth 472 crores has been fixed at ₹836 to ₹878 per equity share.
A bidder will be able to apply for the public issue in lots and one lot of the Ethos IPO will comprise 17 company shares. The public offer is proposed to list on both NSE and BSE. The tentative date for Ethos IPO allotment is 25th May 2022 whereas most likely Paradeep Phosphates IPO listing date is 30th May 2022.
The IPO comprises a fresh issue of equity shares aggregating to Rs 375 crore and an offer-for-sale (OFS) of up to 1,108,037 equity shares. Ethos has 50 physical retail stores in 17 cities in India in a multi-store format and offers an omnichannel experience to its customers through its website and social media platforms.
eMudhra IPO
The company plans to garner Rs 412.79 crore through the IPO, which will remain open for public subscription between May 20 and May 24. It has fixed the price band of its public offer at Rs 243-256 per share.
A bidder can bid for a minimum of one lot and a maximum of 13 lots. A lot will comprise its 58 shares. The tentative date for the announcement of share allocation is May 27 and the shares are likely to be listed on stock exchanges on June 1.
eMudhra will use the proceeds from the fresh issue to repay its debt, support working capital requirements, purchase equipment and pay for other related costs for data centers proposed to be set up in India and overseas locations.
The amount will also be used to develop products, invest in eMudhra INC, and for general corporate purposes.
