Three Initial Public Offerings (IPOs) will open for public subscription next week. Last Month can be dubbed as a successful month as far as IPOs are concerned with majority of them rewarding their investors with nearly 50 to 100 per cent premium. Like previous month, August will also see good action in IPO market with several companies coming up with their IPOs. Devyani International IPO, Exxaro Tiles IPO and Windlas Biotech IPO—All of these IPOs will open on August 4, 2021. Let’s look at these IPOs one-by-one
See Zee Business Live TV Streaming Below:
Devyani International IPO: All you need to Know
Devyani International on Friday fixed a price band of Rs 86-90 a share for its Rs 1,838-crore initial share-sale. The three-day initial public offering (IPO) will open for subscription on August 4, and conclude on August 6. The IPO consists of fresh issue of equity shares worth Rs 440 crore and an offer-for-sale of up to 155,333,330 equity shares by the promoter and existing shareholder. Under the offer-for-sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will offload 6,53,33,330 shares and promoter RJ Corp will sell 9 crore shares. The offer includes a reservation of up to 5.50 lakh equity shares for the company’s employees. Also, 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers, and the remaining 10 per cent for retail investors. Investors can bid for minimum 165 equity shares and in multiples of 165 equity shares thereafter. Proceeds from the fresh issue will be used to retire debt and general corporate purposes.
Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major Pepsico, and has interests in the Indian retail F&B sector.It currently operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as on March 2021 in India.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue.
Exxaro Tiles IPO: All you need to know
Exxaro Tiles, a leading manufacturer of vitrified tiles, on Friday said it has fixed a price band of Rs 118-120 a share for its initial share-sale. The-three day initial public offering (IPO) will open on August 4, and conclude on August 6. The initial public offering of up to 1,342,4000 equity shares comprises a fresh issue of up to 1,11,86,000 equity shares and an offer-for-sale of up to 22,38,000 equity shares by Dixitkumar Patel. Proceeds from the fresh issue would be utilised towards repaying/prepaying of borrowings, fund its working capital requirements besides utilising it for general corporate purposes.
Promoted by Mukeshkumar Patel, Dineshbhai Patel, Rameshbhai Patel and Kirankumar Patel, Exxaro Tiles is primarily engaged in the business of manufacturing and marketing of vitrified tiles used majorly for flooring solutions catering to residential and commercial segments. It currently has an over 2,000 dealer network across 27 states. Pantomath Capital Advisors is the book running lead manager to the issue. The equity shares will be listed on NSE and BSE.
Windlas Biotech IPO: All you need to know
Windlas Biotech, manufacturer of pharmaceutical formulations, has fixed a price band of Rs 448-460 a share for its initial share-sale. The three-day initial public offer (IPO) will open on August 4 and conclude on August 6. The IPO comprises fresh issuance of equity shares worth Rs 165 crore and and an offer for sale of up to 5,142,067 equity shares. As a part of the OFS, Vimla Windlass will offload 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will sell 40,06,067 equity shares.
The proceeds from the IPO will be utilised for purchasing of equipment required for capacity expansion of the facility at Dehradun Plant -IV and addition of injectables dosage capability at the facility at Dehradun Plant-II. It will also be used for funding incremental working capital requirements, repayment/ prepayment of certain of borrowings and general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non institutional investors. Book running lead managers to the issue are SBI Capital Markets Ltd, DAM Capital ad IIFL Securities