IPO Calendar: Primary market gears up for another robust week as 3 companies look to raise Rs 2,700 cr

The primary market is gearing up for another stellar week as three companies launch their initial public offerings (IPOs) to raise just over Rs 2,700 crore this week.

The IPOs of Emcure Pharmaceuticals, in which shark tank fame Namita Thapar is the Executive Director and Bansal Wire will open for subscription next week in the mainboard segment, while Ambey Laboratories is the sole SME issue.

Apart from the above 3 public offers, the Street will see as many 11 listings including that of Allied Blenders and Vraj Iron and Steel, which received healthy investors‘ response for their IPOs in the week gone by.

Analysts expect significant capital to be deployed in public markets and strong demand for both new-age and conventional companies in coming months.

Here’s what to look forward to on the IPO front next weekEmcure Pharmaceuticals IPO

The initial public offer (IPO) of Emcure Pharmaceuticals will open for subscription July 3 and will close on July 5. The company has fixed a price band of Rs 960-1008 per share.

The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders, according to the draft red herring prospectus filed in December.Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital. Currently, Satish Mehta holds a 41.92% stake in the company and BC Investments owns a 13.09% stake.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.

Bansal Wire IPO

The initial public offer (IPO) of Bansal Wire will open for subscription on July 3 and close on July 5. The company has fixed a price band of Rs 243-256 per share.

At the upper end, the company plans to raise around Rs 745 crore. Investors can bid for 58 shares in one lot and in multiples thereafter.

The public offer is being made through the book building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

The company proposes to use the funds from the IPO to repay some of its debt, working capital requirements and other general corporate purposes.

Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23.

Ambey Laboratories SME IPO

The Rs 45 crore SME IPO of Ambey Laboratories will open for subscription on July 4. The issue, which is a combination of fresh equity sale of 62.5 lakh shares and an offer for sale (OFS) of 3.12 lakh shares, closes on July 8.

The IPO is priced in the range of Rs 65-68, where investors can bid for 2,000 shares in one lot.

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