Nuvoco Vistas, CarTrade, Aptus Value Housing Finance, and Chemplast Sanmar will be open for public subscription this week.
The buzz in the IPO (Initial Public Offering) market continues with four companies launching their initial share sales this week to raise over ₹14,628 crore collectively.
This comes after four companies — Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles—launched their initial share-sales last week to mobilize ₹3,614 crore.
So far in the current fiscal, 16 companies have raised ₹30,666 crore through IPOs against ₹31,277 crore by 30 firms in the entire 2020-21.
Going forward, market analysts expect the IPO environment to remain buoyant during the entire 2021-22.
Hemang Kapasi, Head of Equities at Sanctum Wealth Management, said that as many as 40 IPOs are lined up for the rest of the year looking to raise around ₹70,000 crore.
Nuvoco Vistas Corporation,part of the Nirma Group, and online auto classified platform CarTrade Tech will launch their initial share-sales on Monday, while that of Aptus Value Housing Finance andChemplast Sanmar will be open for public subscription on Tuesday, as per information with stock exchanges.
The companies are raising funds to retire their debt, meet capital expenditure requirement and for general corporate purposes. Besides, existing shareholders are divesting their stakes in the IPOs.
Nuvoco Vistas Corporation
Cement manufacturer Nuvoco Vistas’ initial public offering (IPO) comprises fresh issue of shares worth ₹1,500 crore and an offer for sale (OFS) of ₹3,500 crore by promoter Niyogi Enterprise. The public issue, with a price band of ₹560-570 a share will open for public subscription on August 9 and close on August 11.
Proceeds of the fresh issue will be used for the repayment of certain loans availed the company and general corporate purpose.
With a consolidated capacity of 22.32 MMTPA, Nuvoco Vistas’ has 11 cement plants comprising five integrated units, five grinding units and one blending unit. It operates cement manufacturing units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana.
CarTrade Tech’s initial share-sale will be entirely an OFS of 18,532,216 equity shares.
Among the investors participating in the OFS are — CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), MacRitchie Investments Pte Ltd (50.76 lakh shares), Springfield Venture International (17.65 lakh shares).
Currently, CMDB II holds 11.93 % stake in CarTrade, Highdell Investment owns 34.44 % stake, MacRitche Investment has 26.48 % shareholding and Springfield Venture International holds 7.09 % stake in the company.
The company has fixed a price band of₹1,585-1,618 a share for the IPO, which will be open for public subscription during August 9 to August 11. At the upper end of the price band, the IPO is expected to mobilise ₹2,998.51 crore.
Founded in 2009, CarTrade is backed by marquee investors — Warburg Pincus, Temasek, JP Morgan and March Capital. The CarTrade platform allows customers to buy and sell used cars as well as new cars
The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands — CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.
Aptus Value Housing Finance
Aptus Value Housing Finance’s IPO consists of fresh issue of equity shares aggregating to ₹500 crore and an offer for sale of up to 64,590,695 equity shares by promoter andexisting shareholders
The issue, with a price band of ₹346-353 a share,will open on August 10 and close on August 12. At the upper end of the price band, the IPO is expected to fetch ₹2,780 crore. The net proceeds from the fresh issue will be utilized towards augmenting the company’s tier-1 capital requirements.
Aptus Value Housing Finance has a strong capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.
The ₹3,850-crore IPO of Chemplast Sanmar comprises fresh issue of equity shares worth ₹1,300 crore and an offer for sale of ₹2,550 crore.
The offer for sale comprises the sale of ₹2,463.44 crore by Sanmar Holdings Ltd and ₹86.56 crore by Sanmar Engineering Services Ltd.
The company would utilise an aggregate amount of ₹1,238.25 crore from the net proceeds towards early redemption of the non-convertible debentures (NCDs) issued by it. In addition, funds will also be used for general corporate purpose.
The price band has fixed a price band of ₹530-541 a share, which will be open for public subscription from August 10 to August 12.
Chennai-based Chemplast Sanmar is a leading specialty chemicals manufacturer with focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors
The equity shares of these four companies will be listed on the BSE and NSE.
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