IPOÂ Rush: Jhunjhunwala-Backed Baazar Style, Premier Energies Among Nine New Issues This Week
India's primary market will remain buzzing during the week with the public issue of nine companies and eight listings. The companies set to launch their maiden share sales include Rekha Jhunjhunwala-backed Baazar Style Retail Ltd., which will open for subscription on Aug. 30 and continue till Sept. 3.
The company has secured Rs 37 crore from venture capital fund Volrado Ventures Partners Fund II in a pre-IPO round. Following the private placement, size of the fresh issue has been reduced to Rs 148 crore from Rs 185 crore earlier.
Ecos (India) Mobility and Hospitality Ltd. and Premier Energies Ltd. will also be among the eight companies to raise funds via an initial public offering in the mainboard segment.
Solar cell manufacturer Premier Energies has set a price band of Rs 427–450 per share for its Rs 2,830.4 crore public issue due to open for subscription on Aug. 27. The IPO consists of a fresh issue of 2.87 crore shares, totaling Rs 1,291.4 crore, and an offer for sale of 3.42 crore shares, aggregating Rs 1,539 crore.
The Rs 601.20-crore IPO of Ecos Mobility will open for subscription on Aug. 28, with a price band of Rs 318–334 per share. The issue consists entirely of an offer for sale of 1.8 crore shares, where promoters Rajesh Loomba and Aditya Loomba will offload 99 lakh shares and 81 lakh shares, respectively.
The subscriptions for Jay Bee Laminations Ltd. in the small and medium enterprise segment will begin on Aug. 27 and Archit Nuwood Industries Ltd. on Aug. 30. The companies will look to raise Rs 88.9 crore and Rs 168.5 crore, respectively.
On Aug. 27, the Rs 33.84-crore IPO of Paramatrix Technologies Ltd. and the Rs 18.08-crore public issue of Vdeal System Ltd. will open for subscription, followed by the Rs 56-crore issue of Aeron Composite Ltd. the following day.
The week will also see eight companies debuting on the exchanges with two in the mainboard space. Shares of Interarch Building Products Ltd. will list on Aug. 26. The IPO was subscribed to 93.53 times on its third day.
Orient Technologies Ltd. will enter the secondary market on Aug. 28. Its public issue saw bidding worth 151.7 times the offer.
QVC Exports Ltd., Ideal Technoplast Industries Ltd., and Brace Port Logistics Ltd. will be the other companies to debut in the SME segment during the week.
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