Soon after the BSE Sensex touched the 60,000 level, companies are turning to the primary market to gain gains. Among them are likely to be five companies from West Bengal, engaged in various activities ranging from packaged food to ethnic wear, planning to mobilize more. ₹7,300 crore through IPO By the end of this financial year
“The IPOs in the recent past have mainly come from the West and the South. HDFC Securities Retail Research Head Deepak Jasani told PTI, “Kolkata-based companies are now joining the IPO bandwagon in a big way to make the most of the current bullish enthusiasm towards equities in general and IPOs in particular.”
West Bengal-based companies expected to issue Initial Public Offerings (IPOs) include Vedanta Fashions Ltd. which owns the leading ethnic and celebration wear brand ‘Manyavar’, Tarsan Products engaged in manufacturing and marketing of various laboratory equipment, Dairy and Packaged Food Company Kventor Agro, Aarohan Financial Services and Tega Industries engaged in the design and marketing of consumables for Minerals. is in production. the profit.
“The mix of industries is interesting. From packaged food and beverage to finance, from ethnic outfit retailers to mining… these companies span the spectrum of new age and traditional businesses. About ₹7,000 crore worth of IPOs are in the pipeline which will bring the focus back to Kolkata,” Jasani further told the news agency.
Vedanta Fashion Ltd has filed papers with the market regulator for an offer for sale (OFS) of 3.64 crore equity shares by the promoter and existing shareholders. The company intends to increase ₹2,500 crores as per market sources.
Tarson Products has also filed along with their draft papers SEBI to raise in August ₹1,500 crore – a fresh issue of ₹150 crore and OFS up to 1.32 crore shares by promoter and existing shareholders.
Kventor Agro, which has filed DRHP in August 2021, wants to step up ₹800 crore including fresh issuance of equity shares ₹350 crore and OFS of 1.07 crore equity shares.
Tega Industries is reportedly planning to raise ₹700-750 crores. Aarohan Financial Services, which has got market regulator nod for IPO and may float around ₹1,800 crore, estimate market watchers.
In June, city-based Shyam Metallics almost ₹900 crores. As per available information, around 80 companies across the country are in the process of tapping to grow the primary market ₹50,000 crore in the financial year 2021-22.
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