Three companies will bring IPO this week, expected to raise Rs 6,400 crore

New Delhi . This week, three companies – Blackstone-backed Aadhar Housing Finance, medical technology company Indigen and travel sector company TBO Tech – will launch initial public offerings (IPOs) to raise a total of Rs 6,400 crore. Earlier, JNK India had raised Rs 650 crore through an IPO last month. Mahavir Lunawat, managing director of Pantomath Capital Advisors, said that not a single IPO has been launched during May in the last four general election cycles since 2004.

Generally, during these years the April to June period has been slow for the primary markets due to election uncertainty. However, this trend has now changed with three IPO offerings next week. Anand Rathi Advisors Chief Executive Officer (CEO) Sameer Bahl told PTI that the new trend is a positive sign indicating the maturity of the Indian capital market and confidence in India’s long-term growth story despite political developments. Indigen’s three-day IPO will open on May 6, while Aadhaar Housing Finance and TBO Tech’s IPO will open on May 8.

Of the total Rs 6,393 crore IPO of the three companies, Rs 4,233 crore will be raised through offer for sale (OFS). Pranjal Srivastava, partner investment banking at Centrum Capital, said the primary market momentum continues due to overall positive economic sentiments, uptrend in stock markets and strong inflows. The Rs 3,000 crore IPO of Aadhar Housing Finance Ltd will see fresh issuance of shares worth Rs 1,000 crore and an offer for sale (OFS) worth Rs 2,000 crore by BCP Topco 7 Pvt Ltd, a subsidiary of Blackstone Group Inc. At present, BCP Topco holds 98.72 percent stake in Aadhar Housing and ICICI Bank has 1.18 percent stake.

The price range for the company’s IPO has been fixed at Rs 300-315 per share. The price band for the Rs 1,842 crore IPO of medical sector technology company Indigene has been fixed at Rs 430-452 per share. In its IPO, new shares worth up to Rs 760 crore will be issued and 2.34 crore equity shares worth Rs 1,082 crore will be offered for sale. In TBO Tech’s IPO, new shares worth Rs 400 crore will be issued while 1.25 crore equity shares worth Rs 1,151 crore will be offered for sale.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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