2 mainboard and 1 SME IPO to hit primary markets this week. Check details
This week, IPOs of three companies including RR Kabel, SAMHI Hotels, and Chavda Infra (SME), will open for subscription.
«A strong pipeline of over USD 9 billion, which has been approved by capital markets regulator Sebi, and another USD 6 billion filed with the capital markets watchdog, of which USD 10 billion should fructify. Remaining fiscal 2023 looks promising for primary markets,» Mahavir Lunawat, Managing Director of Pantomath Capital Advisors.
«Next week looks promising with IPOs like EMS Limited, RR Kabel among others on the horizon, targeting to raise cumulative funds amounting to Rs 3200+ crore,» Lunawat added.
Further, it is encouraging to note that as the IPO market is sizzling, FPIs have poured over Rs 21,000 crore into IPOs in Apr-Aug’23, he said.
Mainboard IPOs
RR Kabel
The initial public offer (IPO) of consumer electrical product maker RR Kabel would open for public subscription on September 13.
The IPO will close on September 15, while the anchor book will be opened for a day on September 12.
RR Kabel's IPO price band has been fixed at Rs 983-1,035 per share. At the upper end of the price band, RR Kabel aims to raise Rs 1,964 crore from the IPO.
The IPO comprises a fresh issue of equity shares worth Rs 180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth Rs 1,784 crore by the promoters and investors.
RR Kabel plans to utilise the fresh issue proceeds mainly for repaying debt amounting to Rs 136 crore, and for general corporate purposes.
SAMHI Hotels
The IPO of SAMHI Hotels will open for subscription on September 14.
