Five IPOs open next week, seeking close to ₹2,600 crore
EAAA India Alternatives leads the line-up with a ₹1,200 crore issue that opens on October 26.
The 30-second read
- Five companies launch IPOs next week, seeking close to ₹2,600 crore in total.
- EAAA India Alternatives is the largest at ₹1,200 crore, and it is entirely an offer for sale by Edelweiss Group.
- The other four are SFC Environmental, M K Sons Fine Jewels, BLS Polymers and Bombay Coated and Special Steels.
IllustrationFive companies are set to launch IPOs next week, seeking close to ₹2,600 crore, according to Fortune India, The Hindu and The Times of India. The list of companies was first reported by The Times of India: EAAA India Alternatives, SFC Environmental Technologies, M K Sons Fine Jewels, BLS Polymers, and Bombay Coated and Special Steels. The Hindu and YourStory report that subscriptions open between October 26 and October 29.
EAAA India Alternatives is the biggest, at ₹1,200 crore. It opens on October 26 and closes on October 28. Fortune India first reported the price band, ₹1,585-₹1,665 for each share, which values the company at ₹10,765 crore at the top of the range. Fortune India also first reported that Edelweiss Group is selling all the shares on offer, so the company gets no proceeds. About ₹360 crore was raised from anchor investors. The Hindu first reported that EAAA is an arm of Edelweiss Financial Services.
The Hindu first reported the details of the other four. SFC Environmental seeks ₹668 crore, made up of a ₹150 crore fresh issue and as many as 1.57 crore shares being sold by existing shareholders. M K Sons Fine Jewels seeks ₹275.4 crore. BLS Polymers seeks ₹255 crore, with money going to capacity expansion and working capital. Bombay Coated and Special Steels seeks ₹183.1 crore through a fully fresh issue, and ₹125 crore of it is meant for debt.
The Hindu also reports that more IPOs are in the pipeline. Gujarat Victory Forging, Milestone Gears, Avaada Electro, Swara Baby Products, Integris Medtech and AGS Health are expected to announce plans by November 5.
Why it matters
Indian retail and institutional investors get five new IPO options across sectors in one week. The issues carry on a strong year for the primary market.
The data
| Company | Issue size | Dates | Price band (per share) |
|---|---|---|---|
| EAAA India Alternatives | ₹1,200 Cr | Oct 26-28 | ₹1,585-₹1,665 |
| SFC Environmental Technologies | ₹668 Cr | Closes Oct 29 | ₹313-330 |
| M K Sons Fine Jewels | ₹275.4 Cr | Oct 28-30 | ₹153-162 |
| BLS Polymers | ₹255 Cr | Oct 27-29 | ₹142-150 |
| Bombay Coated and Special Steels | ₹183.1 Cr | Oct 29-Nov 2 | ₹78-82 |
