The primary market is up and running yet again in full swing and there is traction seen both in the case of mainboard initial public offering (IPO) as well as Small and Medium Enterprises (SME) IPOs segment. The primary market will remain busy this week, with four IPOs — HMA Agro Industries, Aatmaj Healthcare, Veefin Solutions and Essen Speciality Films — opening for subscription. These four companies will be raising more than Rs 630 crore through their public issues this week.
HMA Agro Industries
The Rs 480-crore initial share sale of HMA Agro Industries, in the mainboard segment, will open for public subscription on Tuesday (June 20) and close on Friday (June 23). The company has fixed a price band of Rs 555-585 a share for the issue.
The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale (OFS) of Rs 330 crore by promoters and selling shareholders, which means nearly 70 percent of the money from the issue is going to promoters.
Investors can bid for a minimum of 25 equity shares and in multiples thereafter. As much as 50 percent of the issue is reserved for qualified institutional buyers, 15 percent for non-institutional investors and the rest 35 percent for retail investors.
The share allotment will likely be finalised on June 29 and the listing of shares on the BSE and NSE will be on July 4.
Aatmaj Healthcare
The initial share sale of Gujarat-based healthcare services provider Aatmaj Healthcare opened for public subscription today (June 19), and will conclude on Wednesday (June 21). It is a fixed-price issue. The company will offer its shares at a price band of Rs 60 per equity share, and investors can bid for 2,000 shares in one lot.
The public offer is completely a fresh equity issue of up to 64 lakh equity shares of face value of Rs 5 each. There is no offer for sale (OFS) in the proposed issue.
Nearly 50 percent of the issue is reserved for retail investors, while the remaining 50 percent is allocated to non-institutional investors.
The final share allotment will be made on June 26, and the company's shares will get listed on the NSE SME platform on June 30.
Veefin Solutions
Veefin Solutions, the digital lending and supply chain finance technology product solutions, plans to raise Rs 46.7 crore through its initial share sale. The bidding for the BSE SME IPO will begin on Thursday (June 22) and will close on Monday (June 26).
The IPO comprises of a fresh issue and an OFS of Rs 23.37 crore each, at a price of Rs 82 per equity share.
Essen Speciality Films
The public offer will open for subscription on Friday (June 23) and will conlcude on Tuesday (June 27), with a price band of Rs 101-107 per equity share. Essen Speciality Films will list its shares on the NSE Emerge platform.
The total fundraising would be over Rs 66 crore comprising a fresh issue of 46.99 lakh shares, and an offer for sale of 15 lakh shares.
Besides general corporate purposes, debt repayment and working capital requirements are the main objectives of the company's fresh issue.
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