3 new issues and 11 listings to hit Dlal Street next week

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The primary market is set for another stellar week as three companies are set to launch their initial public offerings (IPOs) to raise over Rs 2,700 crore in the coming week. With political stability restored, stock markets are surging once again, with the Nifty and Sensex hitting record highs.

The optimism is particularly evident in the IPO market, as Hyundai Motor India, the country's second-largest carmaker, plans to launch a massive Rs 25,000-crore IPO this year, which will be the largest in India's history.

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Additionally, India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Analysts expect significant capital infusions into the public markets in the near future and strong demand for both new-age and traditional companies.

In the coming week, the IPOs of Emcure Pharmaceuticals, in which Shark Tank fame Namita Thapar is the executive director and Bansal Wire will open for subscription in the mainboard segment, while Ambe Laboratories is the only SME issue.

Apart from the above three public offers, the market will also see 11 other listings including Allied Blenders and Vraj Iron & Steel, which received good response from investors for their IPOs last week.

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Emcure Pharma IPO

Pune-based Emcure Pharmaceuticals is set to launch its maiden public offering on July 3 and will close on July 5. It has fixed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952-crore IPO.

The issue will see issuance of fresh equity shares worth Rs 800 crore and an offer for sale (OFS) of up to 1.14 crore equity shares by existing shareholders, including promoters. The anchor book of the issue will be launched for a single day on July 2.

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Also Read | Emucare Pharma fixes price band of Rs 960-1008 per share for upcoming IPO

Promoters Satish Ramanlal Mehta, Sunil Rajnikant Mehta, Namita Vikas Thapar and Samit Satish Mehta are the selling shareholders in the OFS. Apart from this, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, BC Investments IV, Arunkumar Purushottamlal Khanna, Barjis Minu Desai and Sonali Sanjay Mehta will also sell shares in the OFS.

50 per cent of the net issue size has been reserved for qualified institutional buyers (including up to 60 per cent for anchor investors), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs)/high net worth individuals (HNIs).

The pharma company will use Rs 600 crore from the net fresh issue proceeds to repay debt as it has a debt of Rs 2,091.9 crore on its books by the end of March 2024. The remaining funds will be used for general corporate purposes.

Bansal Wire IPO

Bansal Wire's initial public offering (IPO) will open for subscription on July 3 and close on July 5. The company has fixed a price band of Rs 243-256 per share. At the upper end of the price band, the company aims to raise about Rs 745 crore. Investors can bid for a minimum of 58 shares in a lot and in multiples thereafter.

The public offering is being made through a book-building process, with approximately 50% of the issue reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. The company plans to use the IPO proceeds to repay some of its debt, meet working capital requirements and other general corporate purposes.

Ambe Laboratories SME IPO

Ambe Laboratories' Rs 45 crore IPO will open for subscription on July 4 and close on July 8. The issue consists of fresh equity sale of 62.5 lakh shares and an offer for sale (OFS) of 3.12 lakh shares. The IPO is priced in the range of Rs 65-68 per share, with investors able to bid for a minimum of 2,000 shares in a lot.

next week listings

Apart from the three public issues, 11 companies will be listed on D-Street next week. In the mainboard segment, Vraj Iron & Steel, Allied Blenders and Distillers are set to list on the stock exchanges on July 3 and July 2, respectively.

Also Read | Vraj Iron & Steel IPO Day 3: Issue subscribed over 119 times; HNIs, QIBs drive demand

The SME segment will have 9 listings including Nephro Care India, Diensten Tech, Petro Carbon & Chemicals, Divine Power Energy, Akiko Global Services, Visaman Global Sales, Mason Infratech, Sylvan Plyboards (India), Shivalik Power Control.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before making any investment decisions.

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