Three new IPOs opening this week — Paradeep Phosphates, Ethos, eMudhra while LIC to list on exchanges tomorrow
- Three new IPOs will open their subscriptions this week – Paradeep Phosphates, Ethos and eMudhra.
- Meanwhile, LIC will be listed on Indian stock exchanges tomorrow, May 17.
- All the three IPOs together intend to raise over ₹2,300 crore from investors this week.
AdvertisementEven in times of volatile market conditions, three companies are looking to raise over ₹2,300 crore from the primary markets. The IPOs of Paradeep Phosphates, Ethos, eMudhra will open their issues next week.
Meanwhile, India’s largest IPO of LIC which closed last week will make its debut on the exchanges tomorrow (May 17). The current weak market sentiment may have some bearing on the flow of primary investments, as investors are concerned about rising inflation, and the rising interest rates.
Here are the three IPOs opening next week:
|Company||IPO open date||IPO close date|
|Paradeep Phosphates||May 17||May 19|
|Ethos||May 18||May 20|
|eMudhra||May 20||May 24|
eMudhra IPO to open on May 20 to raise ₹412 crore
eMudhra is a certifying authority (CA) authorised by the controller of certifying authority (CCA) for issuance of Digital Signature Certificates in India.
The company claims to be the largest licensed certifying authority in India with a market share of 37.9% as of FY21, which grew from 36.5% in FY20.
It’s issuing fresh shares worth ₹161 crore and an offer for sale up to 98.35 lakh equity shares.
The company is engaged in the business of providing digital trust services and enterprise solutions like individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, IT policy assessment, etc.
The firm has issued more than 50 million digital signature certificates since inception. It caters to all kinds of subscribers who use digital signature certificates for income tax return filing, filings with the Ministry of Corporate Affairs (Registrar of Companies), tenders, foreign trade, banking, railways and many other needs.
The proceeds from the IPO will be used to repay debt, funding working capital, buy equipment for data centers, investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs to growth.
The IPO will open on May 20 and close on May 24 with a price band of ₹243 - ₹256 per share.
Ethos IPO will open on May 18 to raise ₹472 crore
Ethos is a Chandigarh-based luxury watch retailer that is coming up with an IPO worth ₹472 crore including a fresh issue of equity shares worth ₹375 crore and an offer for sale (OFS) of up to 11.08 lakh equity shares.
The company has a portfolio of 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain. It has a market share of 20% in the exclusive luxury segment; and 13% share in the total retail sales in the premium and luxury segment.
It has 50 physical retail stores in 17 cities in India and offers an omnichannel experience to its customers via website and social media platforms. As of December 31, 2021, the company's website had 2.18 crore visitor sessions.
The IPO proceeds will be used towards repayment of debt, funding working capital, capex for establishing new stores and upgrading existing stores. The IPO will open on May 18 and close on May 20 with a price band of ₹836 - ₹878 per share.
AdvertisementParadeep Phosphates to open on May 17 to raise ₹1,501 crore
The fertilizer company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA).
It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna.
The company is looking to raise ₹1,500 crore including fresh issue of shares worth ₹1,004 crore and offer for sale comprises of up to 60.18 lakh equity shares by Zuari Maroc Phosphates and up to 11.24 crore equity shares by The President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India.
The Company intends to utilize IPO proceeds from the fresh issue to part-finance the acquisition of the Goa facility, repayment of debt and general corporate purposes.
The IPO will open on May 17 and close on May 19 with a price band of ₹39 - ₹42 per share.
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