The primary market is buzzing with IPOs of new-age tech companies as this week four companies have opted to raise funds through means of IPO. They include Aptus Value Housing Finance, CarTrade Tech, Chemplast Sanmar, and Nuvoco Vistas.
CarTrade Tech Ltd: The multi-channel auto trade platform company connects prospective buyers with used-car owners, vehicle dealers, vehicle OEMs, and other businesses for the purpose of sales and purchase of vehicles.
It plans to raise nearly Rs.3000 cr through this public offering. It is effectively an offer for sale (OFS) since no fresh issue is being done. The offering will be open for subscription from Aug 9th – Aug 11th at a price band of Rs.1585 – Rs.1618 per share at an Rs.10 face value.
The Nuvoco Vistas Ltd: The company is a part of the Nirma Group of Companies and one of the largest cement and concrete manufacturers in India in terms of capacity.
A total of Rs.5000cr is being raised for the purpose of repayment, pre-payment, and redemption of the company’s borrowings, either fully or partially. The remaining funds will be utilized for general operational purposes.
The IPO will be open from Aug 9th – 11th at a price band of Rs.560-570 per share with Rs.10 being the face value. The fresh issue totals Rs 1,500 crore, while the OFS amounts to Rs 3,500 crore.
Chemplast Sanmar: The company manufactures specialty chemicals like specialty paste PVC resin, starting materials, and intermediates for pharmaceutical, agro-chemical, and fine chemicals sectors amongst other things. The IPO consists of a fresh issue of up to ₹ 1,300 crores and an offer for sale of ₹ 2,550 crores.
The price band will be Rs.530-541 at a face value of Rs.5 per share. The offering will be open for subscription from Aug 10-12.
The funds raised through the IPO are to be utilized for early redemption of non-convertible debentures (NCDs) issued by the company in full and for meeting general corporate purposes.
Aptus Value Housing Finance: This is a retail housing finance company that offers home loans for purchasing residential properties and also gives loans against property. A total of Rs.2870cr is being raised with fresh issues making up Rs.500cr and the rest by OFS by the promoters. The price band will be Rs346-353 and the offering will be open for subscription from Aug 10-12.
A total of nearly Rs. 14,358 cr is being raised this week from these IPOs, following up with the 4 IPOs last week. Given the abundance of liquidity and also the markets touching new all-time highs, the timing could not have been better.
