The public issue section of the Indian stock market is set for a busy week ahead. Three companies dealing in different sectors of the Indian economy are opening bids for their initial public offerings (IPOs) between December 12 and 15. The companies going public next week include Aban Group-backed Aban Holdings, India’s largest wine producer and seller, Sula Vineyards, and automobile services provider Landmark Cars. Together, these three firms are looking to raise close to Rs 1,857.95 crores. While these companies gear up for their public issue bidding, Uniparts India is preparing to make its market debut at the same time.
Aban Holdings
The financial services provider is set to launch its IPO on December 12, keeping it open for three-day bets until December 15. The price band for close to 128 lakh shares has been set to Rs 256-270 per share. Aban Holdings is looking to raise Rs 345.60 crores through its public issue. Of the total shares for sale, 38 lakh equities are fresh issue, while around 90 lakh are offer for sale (OFS).
Ten per cent of the IPO shares are reserved for qualified institutional buyers (QIB), 30 percent is earmarked for non-institutional investors, and 60 per cent is reserved for individual retail investors, the Mint reported.
Sula Vineyards
The Sula Vineyards IPO is entirely OFS, and will be open for bidding from December 12 to 14. The IPO, which is valued at around Rs 960.35 crores, will have a price band of Rs 340-357 per share. Sula’s IPO comprises 26,900,530 equity shares. Since the IPO is entirely OFS, the proceeds from the IPO will go to the selling shareholders. It will not be utilised by the company.
Half of the IPO size will be earmarked for QIBs, while 15 percent will be allotted to non-institutional investors. The remaining shares will be open for bidding for retail investors.
Landmark Cars
Landmark Cars’ IPO, worth Rs 552 crores, will open for bets on December 13 and remain that way till December 15. Bidding for anchor investors will open a day before the IPO, on December 12. The price per share ranges from Rs 481 to Rs 506.
Landmark Cars, too, has reserved half of the equity shares for QIBs. Another 35 percent has been allotted to retail investors. The rest is earmarked for non-institutional investors. Up to Rs 402 crores of the offering is OFS, while the remaining Rs 150 crores make up the fresh issue of the IPO.
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