Cos sing IPO tune, line up `9K-cr offers
The IPO lane is getting increasingly crowded as companies have lined up offers worth nearly Rs 9,000 crore in the current fiscal to fund their business expansion, meet working capital requirements and make loan repayment.
Catholic Syrian Bank, AGS Transact Technologies, Shree Pushkar Chemicals and Fertilizers, Dilip Buildcon, S H Kelkar and Company, Amar Ujala and Navkar Corporation are among the ones that plan to launch share-sale offers in coming months.
At present, 11 companies plan to raise Rs 5,010 crore and have secured approval of the Securities and Exchange Board of India (Sebi), Prime Database managing director Pranav Haldea said. Another 11 firms looking to mop up Rs 3,602 crore have filed draft documents with the capital market watchdog and are awaiting approval, he added. “However, there is no large issue on this list,” Haldea said. According to experts, the IPO market is expected to see some activity in the current fiscal as a dozen companies filed their draft papers with Sebi in the past two months to launch public offers.