Three IPOs to be launched in primary markets this week
This week, there will be three public offerings, which will keep the primary market as well as investors busy.
Let’s take a look at the upcoming initial public offer (IPO) in the next few days:
Medplus Health Services IPO
Pharmacy retailer MedPlus Health Services will present its IPO for subscription tomorrow, December 13.
The issue will be open from December 13 to 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 consist of an offer for sale (OFS) of equity shares worth Rs 600 crore as well as shares up to Rs 798 crore 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 earmarked for retail investors and non-institutional investors, respectively.
Shares worth Rs 5 crore have been reserved for the employees of the pharmacy retail chain. Eligible employees will be given a discount of Rs.78 on the final issue price.
Established in 2006, MedPlus is the second leading pharmacy retail chain in the country with a mix of fresh equity of Rs 600 crore and Offer for Sale (OFS) of up to Rs 798 crore by promoter and existing shareholders.
The proceeds from the fresh issue will be used to finance the working capital requirements of Optival, a subsidiary of the Company.
Data Pattern India IPO
Defense and aerospace electronics solutions provider Data Patterns India’s Rs 588 crore IPO will open between December 14-16.
Its price band has been fixed at Rs 555-585 per share.
The public issue comprises fresh issue of shares worth Rs 240 crore and OFS of 59.52 lakh equity shares by promoters and individual sale shareholders.
Data Pattern has reduced the size of its new issue to Rs 240 crore from the earlier planned Rs 300 crore.
According to market watchers, its shares were attracting a premium of Rs 475 in the gray market on December 10.
The OFS includes sale of 19.67 lakh shares by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, up to 75,000 shares by Sudhir Nathan, up to 4.15 lakh equity shares by GK Vasundhara and 15.28 lakh equity shares by other existing shareholders.
The proceeds from the new issue will be used for repayment of debt, financing its working capital and for general corporate purposes apart from upgrading and expanding its existing facilities.
The shares of the company are expected to be listed on the exchanges on December 24, 2021.
Founded by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defense and aerospace electronics solutions provider that meets requirements in space, air, land and sea.
IIFL Securities and JM Financial are the Book Running Lead Managers of the issue.
HP Adhesives India IPO
HP Adhesives is a multi-product, multi-category consumer adhesives and sealant company, and its public offer will be open for subscription from December 15 to 17, 2021.
HP Adhesives has fixed a price band of Rs 262-274 per share for its first public offer.
Investors will be able to bid for a minimum of 50 shares in the upper price band at Rs 13,700 and in multiples of 50 shares thereafter.
Retail investors will be able to bid on the upper price band of Rs 1,91,800 for a maximum of 14 lots or 700 shares, as the bid limit for retail investors in the IPO is Rs 2 lakh.
The IPO of 45.97 lakh equity shares consists of a fresh issue of 41.40 lakh equity shares by Anjana Haresh Motwani and OFS of 4.57 lakh equity shares.
The fresh issue proceeds will be used to meet the company’s working capital requirements and for expansion of production capacity at its existing manufacturing facility at Narangi village in Raigad district of Maharashtra and an additional unit on an adjoining plot.
The company will also expand its installed capabilities for its product lines and expand its portfolio.
In its largest product range, PVC Solvent Cement, HP Adhesives is one of the leading construction companies in India.
Its adhesives and sealant products are used in many industries such as plumbing and sanitary, drainage and water distribution and general purpose buildings among others.
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