Five IPOs to Hit Dalal Street This Week

The IPO market is currently experiencing significant attraction among all market participants, driven by a substantial increase in the number of companies going public. Businesses from various sectors are choosing to raise capital through initial public offerings, garnering significant attention from investors.

This week five public issues are set to debut on Dalal Street. The combined fundraising target for these offerings amounts to Rs 2433.12 crore, with Rs 108 crore coming from the SME segment.

Let’s take a brief look at each one individually Starting from the main board.

Juniper Hotels Limited

Juniper Hotels Limited, a luxury hotel development and ownership company, currently manages seven hotels and serviced apartments, comprising a total of 1,836 rooms. The company is set to launch its Initial Public Offering (IPO) on February 21, 2024, with the closing date on February 23, and subsequent listing on February 28.

The IPO price range is set at Rs 342 to Rs 360 per share, with a lot size of 40 shares. Juniper Hotels aims to generate Rs 1800 crore through a fully fresh issue, with the primary objectives being debt repayment and general corporate purposes.

GPT Healthcare Limited

GPT Healthcare Limited operates a chain of mid-sized, multi-specialty, full-service hospitals in Eastern India under the ILS Hospitals brand, providing integrated healthcare services with a focus on secondary and tertiary care. The company is scheduled to initiate its Initial Public Offering (IPO) on February 22, 2024, with the closing date set for February 26, and subsequent listing on February 29.

The IPO price range is established at Rs 177 to Rs 186 per share, and the lot size is 80 shares. GPT Healthcare aims to raise Rs 525 crore through a fully fresh issue and primarily from the offer for sale. The key objectives include debt repayment and general corporate purposes.

Following is the IPOs from the SME segment:

Zenith Drugs Limited

Zenith Drugs Limited is a pharmaceutical company specializing in the manufacturing and trading of high-quality, affordable medicines, including generic drugs. The company is scheduled to commence its Initial Public Offering (IPO) on February 19, 2024, with the closing date set for February 22, and subsequent listing on February 27.

The IPO price range is set at Rs 75 to Rs 79 per share, with a lot size of 1600 shares. Zenith Drugs aims to raise Rs 40.68 crore through a fully fresh issue and primarily from the offer for sale.

The main objectives of the fund utilisation include the purchase of machinery and equipment for setting up new units, addressing existing manufacturing block upgradation, meeting working capital requirements, and general corporate purposes.

Deem Roll Tech Limited

Deem Roll Tech Limited specialises in the manufacturing of steel and alloy rolls, catering to a global market with exports to over 10 countries. The company is slated to initiate its Initial Public Offering (IPO) on February 20, 2024, with the closing date scheduled for February 22, and subsequent listing on February 27.

The IPO price is set at Rs 129 per share, and the lot size is 1000 shares. Deem Roll Tech aims to raise Rs 29.26 crore through a fully fresh issue. The primary objectives for utilising the funds include funding capital expenditure for expanding its existing manufacturing facility in Mehsana, Gujarat, India, addressing working capital requirements, and general corporate purposes.

Sadhav Shipping Limited

Sadhav Shipping Limited is engaged in the ownership and operation of marine assets, providing services for ports, coastal logistics, and other maritime-related activities. The company is scheduled to initiate its Initial Public Offering (IPO) on February 23, 2024, with the closing date set for February 27, and subsequent listing on March 01, 2024.

The IPO price is fixed at Rs 95 per share, with a lot size of 1200 shares. Sadhav Shipping Limited aims to raise Rs 38.18 crore through a fully fresh issue. The primary objectives for utilizing the funds encompass funding capital expenditure for the repayment or prepayment, in part or full of certain outstanding borrowings, part funding of capital expenditure for purchasing or acquiring additional boats/vessels, addressing additional working capital requirements, and general corporate purposes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.