Upcoming IPO: Investors in the primary market can look forward to exciting opportunities as four companies prepare to launch their Initial Public Offerings (IPOs) next week.
Among them, one IPO belongs to the mainboard segment, while the other three are from the SME segment.
The companies set to go public are Aatmaj Healthcare, HMA Agro Industries, Veefin Solutions, and Essen Specialty Films. Together, these IPOs aim to raise over Rs 630 crore through public issues.
Aatmaj Healthcare IPO:
Leading the pack is Aatmaj Healthcare, a healthcare service provider based in Gujarat. The company’s IPO is scheduled to open for subscription on June 19 and will remain open until June 21.
Priced at Rs 60 per share, the fixed price issue aims to raise Rs 38.40 crore by offering 64 lakh shares. The IPO is set to be listed on NSE Emerge on June 30.
Aatmaj Healthcare, operating its hospitals under the name Jupiter Hospitals, provides healthcare services with a total bed capacity of 130 beds (expandable to 175 beds) in Vadodara, Gujarat.
The funds raised through the IPO will be utilized to pay down debt, fund acquisitions, and support other strategic initiatives.
Additionally, the company plans to purchase medical equipment, meet working capital requirements, and cover general corporate expenses and issue expenses.
HMA Agro Industries IPO:
Next in line is HMA Agro Industries, with its IPO falling under the mainboard segment. The subscription for this IPO will begin on June 20, with a price band of Rs 555-585 per share.
The company intends to raise Rs 480 crore through its initial public issue, comprising Rs 150 crore worth of fresh equity shares and Rs 330 crore from the sale of shares by the promoters.
The offer will close on June 23, and the listing on BSE and NSE is expected on July 4.
HMA Agro Industries currently carries a debt of Rs 340 crore as of December 2022.
The proceeds from the new issue will be utilized for working capital requirements and general corporate purposes. The IPO offers about 70 percent of the funds to the promoters.
Veefin Solutions IPO:
Veefin Solutions is the third IPO in the lineup, set to open for bidding on the BSE SME platform from June 22 to June 26.
As a digital lending and supply chain finance technology product solutions company, Veefin Solutions aims to raise Rs 46.7 crore through this IPO, priced at a fixed rate of Rs 82 per share.
The net proceeds from the fresh issue will be allocated for global sales and marketing expenditure, in addition to general corporate purposes.
The funds will also support the development and maintenance of new products, as well as the upgrading or updating of existing products.
Essen Specialty Films IPO:
The final IPO to hit the market next week is Essen Specialty Films, a manufacturer of specialized plastic products for the home improvement and home furnishing industries.
The IPO will open for subscription on June 23 and close on June 27, offering shares within a price band of Rs 101-107 per share.
The IPO aims to raise over Rs 66 crore, with 46.99 lakh fresh shares and 15 lakh shares sold under offer for sale.
The funds will be utilized for general corporate purposes, debt repayment, and meeting working capital requirements. Essen Specialty Films is expected to list its shares on NSE Emerge.
Investors and market participants eagerly await the launch of these IPOs, which hold the potential for substantial returns and contribute to the dynamic primary market landscape.
