IPO investors have an exciting week ahead as two companies are set to hit Dalal Street. The two homegrown firms - Emcure Pharmaceuticals and Bansal Wire Industries – will launch their public offerings to collectively raise around ₹2,700 crore via the initial public offering (IPO) route. While Pune-based Emcure Pharmaceuticals looks to garner ₹1,952 crore through public listing of shares on the domestic exchanges, Ghaziabad-based Bansal Wire Industries eyes to raise ₹745 crore via IPO.
Here’s all you need to know about upcoming IPOs:
Emcure Pharma’s ₹1,952 cr IPO to open on July 3
The Pune-based pharma company has set IPO price band at ₹960-1,008 per share, looking to raise ₹1,952.03 crore at the upper end of the issue price. The three-day IPO will open for subscription on July 3 and close on July 5, while the anchor book will open for a day on July 2. The tentative date for listing of shares on the stock exchanges is July 10, 2024.
The issue is a combination of fresh issuance of 0.79 crore equity shares worth ₹800 crore and offer for sale (OFS) of 1.14 crore shares aggregating to ₹1,152.03 crore.
The minimum lot size for an application is 14 shares, which means retail investors will have to invest ₹14,112 to buy one lot.
The company has reserved half of the issue size for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. It has also reserved 1,08,900 equity shares for its employees who will be offered at a discount to issue price.
Kotak Mahindra Capital Company Limited, Axis Capital Limited, J.P. Morgan India Private Limited and Jefferies India Private Limited are the book running lead managers of the Emcure Pharma IPO. Link Intime India Private Ltd is the registrar for the issue.
Incorporated in 1981, Emcure Pharmaceuticals develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas.
Bansal Wire Industries to raise ₹745 cr
A flagship company of Ghaziabad-based Bansal Group, the company is set to hit Dalal Street with its ₹745 crore IPO on July 3. The company has fixed the price band at ₹243-256 per share for its IPO, which will close on July 5. The anchor book will open for a day on June 2 and the shares are expected to debut on July 10.
The issue is completely a fresh issue of ₹745 crore and the market capitalisation of the steel wires manufacturer post listing is pegged at ₹3,262 crore.
The company intends to use IPO proceeds for repayment of loans availed by itself and its subsidiary as well as for funding the working capital requirements of the company and meet general corporate purposes.
Formed in 1985, Bansal Wire Industries is one of the leading manufacturers of stainless steel wire. It has four manufacturing facilities in the National Capital Region (NCR), with three facilities in Ghaziabad (UP) and one facility in Bahadurgarh (Haryana). The company operates in three main segments: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. It makes over 3,000 different types of steel wire products, ranging in size from very thin to very thick, and caters to more than 5,000 customers in different industries.
Earlier this week, Indian-made foreign liquor (IMFL) maker Allied Blenders and Distillers (ABD) and Vraj Iron and Steel launched their IPOs, raising ₹1,500 crore and ₹171 crore, respectively, via IPO route. Besides, Stanley Lifestyles made its debut on the stock exchanges after successfully raising ₹537 crore via public offering.
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