- Date : 19/06/2023
- Read: 4 mins
Four IPOs are set to enliven Dalal Street, with companies in healthcare, agriculture, digital lending, and specialty films sectors raising significant capital through their public offerings.
- Aatmaj Healthcare to raise Rs. 38.40 crore for debt repayment and strategic initiatives.
- HMA Agro Industries eyes Rs. 480 crore IPO for working capital and expansion.
- Veefin Solutions aims to raise Rs. 46.7 crore for global sales and product development.
- Essen Speciality Films' IPO to generate over Rs. 66 crore for debt repayment and working capital requirements.
The market is poised for an active week with the launch of four initial public offerings (IPOs) on Dalal Street, comprising one on the main board and three in the SME segment. These IPOs are expected to generate a combined total of over Rs. 630 crore, infusing new capital into the market. Let's delve into the details of each IPO and the companies behind them.
Also Read: How To Check IPO Allotment Status?
1. Aatmaj Healthcare, June 19
Gujarat-based healthcare services provider, Aatmaj Healthcare, will kick off the IPO frenzy on June 19. Aatmaj, operating under the name Jupiter Hospitals, offers comprehensive inpatient and outpatient healthcare services in Vadodara, Gujarat. With a bed capacity of 130 beds, expandable up to 175 beds, Aatmaj aims to raise Rs. 38.40 crore through the issuance of 64 lakh shares at a price of Rs. 60 per share. The IPO funds will primarily be used for debt repayment, strategic acquisitions, and procuring medical equipment. The subscription period will close on June 21, and the shares will be listed on the NSE Emerge on June 30.
2. HMA Agro Industries, June 20
HMA Agro Industries is set to enter the mainboard segment with its IPO commencing on June 20. The company, known for its expertise in frozen buffalo meat products, intends to raise Rs. 480 crore through its maiden public issue. The IPO consists of a fresh issuance of Rs. 150 crore and an offer for sale of Rs. 330 crore by promoters. HMA Agro Industries has established itself as one of India's largest exporters of frozen buffalo meat, serving more than 40 countries worldwide. The funds raised will be utilised for working capital requirements and general corporate purposes. The subscription period ends on June 23, and the shares are slated to be listed on the BSE and NSE on July 4.
Also read: IPO exit strategies to optimise your gains
3. Veefin Solutions, June 22
Veefin Solutions, a digital lending and supply chain finance technology company, is the third IPO of the week. The bidding for the BSE SME IPO will open on June 22 and continue until June 26. The company aims to raise Rs. 46.7 crore through a combination of a fresh issue and an offer for sale, both amounting to Rs. 23.37 crore each, at a price of Rs. 82 per share. The net proceeds from the IPO will be allocated towards global sales and marketing efforts, product development, and general corporate purposes. Veefin Solutions seeks to enhance its market presence and bolster its existing product portfolio.
4. Essen Speciality Films, June 23
Closing out the week's IPO activity is Essen Speciality Films, a prominent manufacturer of specialised plastic products for the home improvement and home furnishing industry. Its IPO subscription period will span from June 23 to June 27, with a price band of Rs. 101-107 per share. The company aims to raise more than Rs. 66 crore through a fresh issue of 46.99 lakh shares and an offer for sale of 15 lakh shares. Essen Speciality Films plans to utilise the funds for debt repayment, working capital requirements, and general corporate purposes. The company's shares will be listed on the NSE Emerge.
This week promises a dynamic environment for investors as four IPOs hit the primary market, offering opportunities to participate in the growth stories of diverse industries. Aatmaj Healthcare, HMA Agro Industries, Veefin Solutions, and Essen Speciality Films are all set to raise substantial capital, totalling over Rs. 630 crore. Investors should carefully evaluate each IPO's prospects, growth potential, and risk factors before making informed investment decisions. With an array of opportunities, the Dalal Street is poised for an exciting week ahead.
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