11 companies to issues IPOs this month

GR Infraprojects, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping are among the companies which are expected to issue their initial public offerings or IPOs in July. According to Mint Live, at least 11 companies are supposed to launch their IPOs to raise around ₹24,000 crore. This will come after five IPOs, including those of Dodla Dairy, Sona Comstar and KIMS, in the previous month of June. 

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Indian companies raised over ₹20,000 crore in the second half of 2020 and nearly ₹40,000 crore in the first half of this year. At least 20 companies have filed papers with Sebi to launch their IPOs in the second half of 2021 to raise more than ₹20 crore and around 26 companies are awaiting the Securities and Exchange Board of India’s (Sebi’s) approval to launch their initial share-sale, reports have said.

Here is the list of IPOs expected in July:

1. GR Infraprojects: GR Infraprojects' three-day IPO will open for subscription on July 7 and it comprises an offer for sale (OFS) of up to 11.5 million shares by promoters and shareholders, according to reports. GR Infraprojects has fixed a price band of ₹828-837 a share for its ₹963-crore initial share sale.

2. Glenmark Life Sciences: Glenmark Life Sciences' IPO consists of a fresh issue of shares worth ₹1,160 crore and an offer for sale of up to 7.31 million shares by its parent company Glenmark Pharmaceuticals Ltd. According to draft papers, proceeds from the fresh issue worth ₹900 crore will be used towards the payment of outstanding purchase consideration to the promoter for the spin-off of the API business and around ₹153 crore for funding the capital expenditure requirements.

3. Utkarsh Small Finance Bank: Utkarsh Small Finance plans to raise nearly  ₹1,350 crore through its public offering. Its initial public offer comprises a fresh issue of  ₹750 crore and an offer for sale by promoter Utkarsh Coreinvest Ltd of up to ₹600 crore. The company received the markets regulator's observation on June 3. The Varanasi-headquartered lender would utilise proceeds from the fresh issue to augment the tier 1 capital base to meet future capital requirements. 

4. Shriram Properties: Shriram Properties is looking to raise ₹800 crore through its IPO. The Bengaluru-based company’s initial public offer comprises a fresh issue of  ₹250 crore and an offer for sale of up to  ₹550 crore by current shareholders and promoters.

5. Seven Islands Shipping: Seven Islands’ IPO comprises a fundraise via fresh issue amounting to  ₹400 crore and an offer for sale up to  ₹200 crore by FIH Mauritius Investments. The Mumbai-based firm got Sebi’s nod to raise ₹600 crore through an initial share sale in April.

6. Nuvoco Vistas Corp: Nuvoco Vistas plans to raise ₹5,000 crore through the initial public offer. The IPO will comprise a fresh issue of ₹1,500 crore and an offer for sale of  ₹3,500 crore by its promoter entity Niyogi Enterprise Pvt Ltd.

7. Aadhar Housing Finance: According to Aadhar’s draft red herring prospectus, the company will issue fresh shares worth  ₹1,500 crore through the initial public offer and Blackstone will sell its existing shares worth  ₹5,800 crore.

8. Vijaya Diagnostics: Vijaya Diagnostics may issue its IPO worth  ₹2,000 crore and it will see investors and promoters collectively dilute a 35 per cent stake in the Hyderabad-based company.

9. Ami Organics: Ami Organics is expected to bring its initial public offer worth  ₹650 crore in its second attempt to launch an initial share sale, reports have said. The IPO includes a fresh issue of equity shares worth ₹300 crore and an offer for sale of up to 6.06 million shares by the promoter and existing shareholders. The specialty chemicals maker will utilise ₹140 crore from the IPO proceeds towards repayment of certain debt and ₹90 crore for funding working capital requirements.

10. Clean Science Technology: Clean Science and Technology has fixed a price band of ₹880-900 a share for its over ₹1,546 crore-initial public offer. The three-day initial public offer (IPO) will open on July 7 and conclude on July 9. The company said the bidding for anchor investors will open on July 6. Clean Science Technology IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders.

11. Arohan Financial Services: Arohan Financial Services may issue its IPO this month, according to reports. The Kolkata-based non-banking financial company’s ₹1,800 crore worth offer includes fresh issue worth  ₹850 crore and an OFS, it added. Arohan Financial Services received Sebi's go-ahead to float initial share sales in April. The company filed its preliminary papers with Sebi on February 15 and obtained its observations on April 23.

(With agency inputs)