As many as three IPOs will be unveiled this week in the primary markets
This week, as many as three public issues will roll out, thus keeping the primary market as well as investors, busy.
Let’s have a look at the forthcoming initial public offers (IPOs) arriving in the next few days:
Medplus Health Services IPO
Pharmacy retailer Medplus Health Services will unveil its IPO for subscription tomorrow on December 13.
The issue will be open between December 13 and 15, 2021 and the company plans to raise Rs 1,398 crore through it.
Its price band is Rs 780-796 per share. The IPO will include a fresh issue worth Rs 600 crore of equity shares as well as an offer for sale (OFS) of up to Rs 798 crore worth of shares by promoters and existing shareholders.
It will have 50 per cent of the net issue reserved for qualified institutional buyers (QIBs) while 35 per cent and 15 per cent of the shares have been set out for retail investors and non-institutional investors, respectively.
Shares worth Rs 5 crore have been reserved for the employees of the pharmacy retail chain. A discount of Rs 78 will be given to eligible employees on the final issue price.
Set up in 2006, MedPlus is the country’s second leading pharmacy retail chain having a mix of fresh equity worth Rs 600 crore and an offer for sale (OFS) aggregating up to Rs 798 crore by promoter and existing shareholders.
Proceeds from the fresh issue will be used for financing working capital requirements of the company’s subsidiary, Optival.
Data Patterns India IPO
The Rs 588 crore IPO of Data Patterns India, a defence and aerospace electronics solutions provider, will open between December 14-16.
Its price band has been fixed at Rs 555-585 per share.
The public issue consists of a fresh issue of shares worth Rs 240 crore and an OFS of 59.52 lakh equity shares by promoters and individual selling shareholders.
Data Patterns has reduced the size of its fresh issue to Rs 240 crore from Rs 300 crore planned earlier.
According to market watchers, its shares were attracting a premium of Rs 475 in the grey market on December 10.
The OFS includes sale of up to 19.67 lakh shares each by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, up to 75,000 shares by Sudhir Nathan, up to 4.15 lakh equity shares by G K Vasundhara and up to 15.28 lakh equity shares by other existing shareholders.
Proceeds from the fresh issue will be used for repayment of debt, funding its working capital and upgradation and expansion of its existing facilities besides general corporate purposes
Shares of the company are expected to list on December 24, 2021 on exchanges.
Founded by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea.
IIFL Securities and JM Financial are the book running lead managers for the issue.
HP Adhesives India IPO
HP Adhesives is a multi-product, multi-category consumer adhesives and sealants company, and its public offer will be open for subscription between December 15 and 17, 2021.
HP Adhesives has set the price band for its maiden public offer at Rs 262-274 per share.
Investors will be able to bid for a minimum of 50 shares at Rs 13,700 of the upper price band, and in multiples of 50 shares thereafter.
Retail investors will be able to bid for a maximum of 14 lots or 700 shares at Rs 1,91,800 at the upper price band, since bidding for retail investors in IPOs is capped at Rs 2 lakh.
The IPO of 45.97 lakh equity shares comprises a fresh issue of 41.40 lakh equity shares and an OFS of 4.57 lakh equity shares by Anjana Haresh Motwani.
The fresh issue proceeds will be used for meeting the company’s working capital requirements and expansion of production capacity at its existing manufacturing facility at Narangi village in Maharashtra’s Raigad district and at an additional unit on the adjacent plot.
The company will also expand installed capacities for its product lines and also extend the portfolio.
In its largest product category, PVC solvent cement, HP Adhesives is among the leading manufacturing companies in India.
Its adhesives and sealant products are used in multiple industries such as plumbing and sanitary, drainage and water distribution and general purpose buildings among others.
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