7 IPOs to hit Dalal Street this week
What's the story
This week, the primary market will see a flurry of activity with seven initial public offerings (IPOs) set to hit Dalal Street. The total amount these companies plan to raise through their IPOs is still unknown as two of them, Indo-MIM and Lohia Corp, have not yet revealed their price band details. The other five firms are expected to raise a combined ₹5,254 crore through public issues.
Upcoming IPOs
Cube Highways Trust InvIT's IPO will raise ₹5,000 crore
The first of the upcoming mainboard IPOs is from Cube Highways and Infrastructure-sponsored Cube Highways Trust InvIT.
The public issue will open on July 22 and close on July 24, with a price band of ₹151-152 per unit.
The infrastructure investment trust is raising ₹5,000 crore through an entirely offer-for-sale (OFS) by existing unitholders.
New entrants
Maiden public issues will open on July 23
Three maiden public issues, Indo-MIM, Lohia Corp, and Xtranet Technologies, will open for public subscription on July 23 and close on July 27.
IT solutions provider Xtranet Technologies is looking to raise ₹170 crore through an IPO at the upper end of the price band of ₹120-127 per share.
The funds raised will be used for loan repayment, purchase of systems and hardware, working capital requirements, and general corporate purposes.
IPO specifics
Indo-MIM and Lohia Corp have tapped capital markets
Bangalore-based Indo-MIM has launched its IPO with a fresh issue of shares worth ₹500 crore and an OFS of 6.82 crore equity shares by existing shareholders.
The proceeds from the fresh issue will mainly be used for loan repayment, with the remaining funds earmarked for general corporate purposes.
Kanpur-based Lohia Corp has tapped capital markets with an IPO consisting entirely of an OFS of 2.59 crore equity shares by the Lohia family, without any fresh issue component.
SME listings
Gulf Lloyds India to kickstart the primary market this week
Ahmedabad-based third-party certification and inspection services provider Gulf Lloyds India will open its fixed-price public issue today.
The company is raising ₹18.19 crore through an IPO of 18.19 lakh shares at ₹100 per share.
The proceeds will be used for capital expenditure toward office premises, repayment of unsecured loans, meeting working capital requirements, and general corporate purposes.
Upcoming issues
Metalic Technoforge, Shree Balaji Mala Textiles to follow
Gujarat-based Metalic Technoforge will open its ₹50-crore initial share sale on July 21.
The offer comprises entirely of a fresh issue of 64.88 lakh shares, with the price band fixed at ₹72-77 per share.
Kolkata-based manufacturer and wholesaler of cotton sarees Shree Balaji Mala Textiles will open its ₹18.9-crore maiden public issue on July 22 with a price band of ₹66-70 per share.