Three IPOs set to raise over ₹1,800 crore this week

• Sula Vineyards, Landmark Cars and Abans Holdings will launch their issues this week.
• The three initial public offerings (IPOs) are expected to collectively raise over ₹1,857 crore.
• So far this year, ₹55,101 crore has been raised through 32 IPOs (as of December 6), down from ₹1.18 lakh crore raised through 64 IPOs in 2021.

At a time when the stock market is choppy due to mixed cues from global markets, the primary market in India is buzzing. Three initial public offerings (IPOs) are expected to launch this week that will collectively raise over ₹1,857 crore.

Nashik-based winemaker Sula Vineyards, Mumbai-based financial services company Abans Holdings and premium car dealership chain Landmark Cars will open their issues for public subscription this week.

So far this year, ₹55,101 crore has been raised through 32 IPOs (as of December 6), down from ₹1.18 lakh crore raised through 64 IPOs in 2021, shows data from Prime Database.

Sula Vineyards IPO to raise ₹960 crore

Nashik-based Sula Vineyards, India’s largest wine producer and seller is all set to open its initial public offering (IPO) from December 12 to December 14. The price band of the IPO is ₹340-357 per share.

The winemaker’s ₹960-crore IPO is a complete offer for sale by promoters and shareholders. The company will not receive any funds from the IPO.

The shares of the company are currently commanding a grey market premium, or GMP, of ₹70 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.

Sula Vineyards distributes wines under a bouquet of brands such as Sula, RASA, Dindori, The Source, Satori, Madera and Dia. Currently, it produces 56 different labels of wine at four owned and two leased production facilities located in Maharashtra and Karnataka. Its flagship facility is located in Nashik, Maharashtra.

Abans Holdings IPO to open on December 12

Mumbai-based financial services company Abans Holdings will open its IPO on December 12 and close on December 15. The price band of the IPO is set at ₹256-270 per share.

The company plans to raise ₹345.6 crore through a fresh issue worth ₹102.6 crore, and an offer for sale by promoters and shareholders worth ₹243 crore.

Abans Holdings intends to use proceeds from the fresh issue to augment the capital base of the NBFC subsidiary (Abans Finance) to meet its future capital requirements, and for general corporate purposes.

The shares of the company are currently commanding a grey market premium of ₹20 per share.

Part of the Abans Group, Abans Holdings was established in 2009 and is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate.

Landmark Cars IPO to raise ₹552 crore

Landmark Cars will open its IPO on December 13 and close on December 15. The price band of the issue is set at ₹481-₹506 per share.

The company plans to raise ₹552 crore through a fresh issue of shares aggregating to ₹150 crore and offer for sale (OFS) by promoters and shareholders worth ₹402 crore.

Landmark Cars is a premium automotive retail business with dealerships for brands like Mercedes-Benz, Honda, Jeep, Volkswagen and Renault.

It also offers services such as sales of new vehicles, after-sales service and repairs (including sales of spare parts, lubricants and accessories), sales of pre-owned passenger vehicles and facilitation of the sales of third-party finance and insurance products.

It has a network of 112 outlets in 8 Indian states, comprising 61 sales showrooms and outlets and 51 after-sales services and spare outlets.

SEE ALSO:

Abans Holdings to open IPO next week from Dec 12-15; GMP at ₹20 per share

Dharmaj Crop Guard lists at 12% premium but below grey market expectations

Sula Vineyards to open IPO next week from Dec 12-14; GMP already at ₹70 per share