In the upcoming week, two initial public offerings (IPO) are looking to hit the Street. Other than this, four companies are gearing up for their debut at the bourses.
In the mainboard segment, the Rs 631 crore-IPO of Netweb Technologies is set to open on Monday, July 17, and will remain open for subscription till July 19, while the public subscription of Asarfi Hospital, from the SME segment, will open on July 17 and conclude on July 19.
High-end computing solutions provider Netweb Technologies has fixed a price band of Rs 475-500 per share for the issue.
Ahead of its IPO launch, the company on July 14 mobilised Rs 189.01 crore from anchor investors. The company has finalised allocation of 37.80 lakh equity shares to 25 anchor investors at Rs 500 per share, the upper price band, it said in a filing to exchanges.
Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trusteee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and Whiteoak Capital are amongst investors invested in the company via anchor book.
According to market observers, the demand seems to be huge for Netweb Technologies shares in the unlisted market, as shares ere available at 60 percent premium over upper price band of Rs 500 per share.
Netweb Tech plans to mop up Rs 631 crore through the public issue, which comprises a fresh issuance of shares worth Rs 206 crore, and an offer for sale (OFS) of Rs 425 crore by promoters. The OFS portion is more than double, compared to the fresh issue.
The net proceeds will be used for civil construction of the building for the surface mount technology (SMT) line and interior development, and purchase of equipment or machinery for the new SMT production line. Working capital requirements and repaying debts are other objectives of the offer.
The investors eligible will receive the shares of the IPO by July 26 and the listing on the bourses will likely take place on July 27.
Meanwhile, Jharkhand-based healthcare facilities provider Asarfi Hospital will offer its shares in the range of Rs 51-52 apiece, and investors can bid for 2,000 shares in one lot.
The IPO is entirely a fresh equity issue of up to 51.8 lakh equity shares aggregating up to Rs 26.9 crore.
The entire issue proceeds, excluding issue expenses, will be utilised for capital expenditure of cancer hospital at Ranguni in Jharkhand, and acquisition of land on leasehold basis for Health Management and Research Institute at Ranchi, besides general corporate purpose.
The final allotment will be made on July 24 and successful investors will get their shares in demat accounts by July 26. Asarfi Hospital will debut on the BSE SME Platform on July 27.
Hem Securities is acting as the lead manager, while Cameo Corporate Services is the registrar to the issue.
Among the listing candidates, digital technology services company AccelerateBS India is likely to make its debut on the BSE SME on July 19, whereas polymer-based profiles maker Kaka Industries will be listed on the BSE SME platform on July 20.
Drone Destination and Ahasolar Technologies will also be listing next week on July 21 on the NSE SME Emerge and BSE SME platforms, respectively.
All the four listings will be taking place in the SME segment, while there will be no listing in the mainboard segment.
First Published: Jul 15, 2023 3:16 PM IST
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