Five companies, including Paytm parent One97 Communications and Policybazaar parent PB Fintech, will open their initial public offerings (IPOs) in the first half of November to together raise more than ₹27,000 crore.
The IPOs of Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries are also set to open next month.
Digital firm One97 Communications, which operates under the Paytm brand name, is set to come out with it ₹18,300-crore IPO on November 8. The IPO comprises fresh issuance of equity shares worth ₹8,300 crore and ₹10,000 crore from the offer for sale (OFS) by existing shareholders.
The company has fixed a price band of ₹2,080-2,150 apiece, which implies that the firm’s valuation stands at ₹1.44 lakh crore- ₹1.48 lakh crore.
“The biggest merit for Paytm’s IPO would be that they have so much more diversified regulatory access under one roof. This focus on diversification means that none of their particular business books has depth, unlike other major players who focus more on specialising,” Nikhil Kamath, co-founder of Zerodha, said.
The ₹5,710-crore IPO of PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, will open for public subscription during November 1-3. It has a price band of ₹940-980 a share and comprises a fresh issue of ₹3,750 crore worth of equity shares and an offer for sale of about ₹1,960 crore by existing shareholders.
Sapphire Foods India three-day IPO will open for subscription on November 9 and will be entirely an offer of sale of 1,75,69,941 equity shares by promoters and existing shareholders. Reports have said that the Sapphire Foods IPO is expected to fetch ₹1,500-2,000 crore.
SJS Enterprises’ ₹800-crore IPO is entirely an offer for the sale of shares worth ₹710 crore by Evergraph Holdings Pte Ltd and shares to the tune of ₹90 crore by KA Joseph. The issue, with a price band of ₹531-542 a share, will open on November 1 and conclude on November 3.
Sigachi Industries will issue 76.95 lakh equity shares through IPO and is planning to mop up ₹125.43 crore at the upper end of the price band of ₹161-163 per share.
The IPOs of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open. Nykaa and Fino Payments Bank IPOs will conclude on November 1 and November 2, respectively.
(With agency inputs)
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