3 mainboard IPOs to hit primary market this week, plan to raise over Rs 1,300 crore
In the current week, IPOs of three companies including Ratnaveer Precision Engineering, Jupiter Life Line Hospitals, and EMS Ltd, will open for subscription.
Ratnaveer Precision Engineering IPO, which opens on September 4 and closes on September 6, comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. The total mop-up through the issue will be Rs 165 crore.
The company is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes.
Stainless steel is a value-added product with high corrosion-resistant properties.
Under the OFS, promoter Vijay Ramanlal Sanghavi will sell 30.4 lakh shares.
The company has fixed a price band of Rs 93-98 per share and investors can bid for a minimum of 150 shares in one lot and in multiples thereafter.
Ratnaveer Precision Engineering is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes. Stainless steel is a value-added product with high corrosion-resistant properties.
Meanwhile, Jupiter Hospitals IPO will kick-off on September 6 and will be available for the public to bid till September 8.
The company has priced its issue of Rs 695-735, aiming to raise about Rs 869 crore at the upper end. Investors can bid for a minimum of 20 equity shares and in multiples thereafter.
The issue comprises fresh equity of Rs 542 crore and an offer for sale (OFS) of 4.45 million equity shares.
