New Delhi: The primary market activity has once again increased with three IPOs in the line up for this week. After a month’s break, the IPOs of Policybazaar, SJS Enterprises and Sigachi Industries opens this week while two IPOs – of Nykaa and Fino Payments Bank IPO which opened last week – will also conclude.
The public issue of PB Fintech Ltd, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, opens on November 1 and concludes on November 3. The ₹5,710-crore IPO comprises a fresh issue of ₹3,750 crore worth of equity shares and an offer for sale of about ₹1,960 crore by existing shareholders.
Prior to the IPO, PB Fintech on Friday said it has garnered a little over ₹2,569 crore from anchor investors. The company has decided to allocate 26,218,079 shares to 155 anchor investors at ₹980 apiece, aggregating the transaction size to ₹2,569.37 crore, according to a circular uploaded on BSE website. Goldman Sachs, Nomura, BlackRock Global Funds, Morgan Stanley, Canada Pension Plan Investment Board, Fidelity, Abu Dhabhi Investment Authority, ICICI Prudential Mutual Fund (MF), SBI MF, Axis MF and UTI MF are among the anchor investors that have been allocated shares.
Of the Policybazaar IPO, 75% will be reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors. PB Fintech is the leading online platform for insurance and lending products, leveraging the power of technology, data and innovation.
SJS Enterprises on Friday said it has raised ₹240 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Monday. The company has decided to allocate a total of 44,28,043 equity shares to 18 anchor investors at ₹542 apiece, aggregating the transaction size to ₹240 crore, according to a circular uploaded on BSE website. The ₹800-crore IPO is entirely an offer for sale of shares worth ₹710 crore by Evergraph Holdings Pte Ltd and shares to the tune of ₹90 crore by KA Joseph.
The issue, with a price band of ₹531-542 a share, will open on November 1 and conclude on November 3. Half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors. SJS Enterprises is a leading players in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country.
The IPO of Sigachi Industries opens on November 1 and closes November 2. Sigachi Industries Ltd has set price band of ₹161-163 a share for its initial public offering (IPO). The IPO of Sigachi Industries, a Hyderabad-based manufacturer of cellulose-based excipients, IPO consists of a fresh issue of 7.70 million shares up from earlier planned of up to 2.84 million shares. On the upper end price band, the firm will raise as much as ₹125.43 crore through share sale.
Meanwhile, the IPO of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, was subscribed 4.82 times on Friday, the Day 2 of subscription. The issue closes on November 1. The category for qualified institutional buyers (QIBs) received 4.72 times subscription, while those for non-institutional investors 4.17 times and retail individual investors (RIIs) 6.32 times.
The initial public offer of Fino Payments Bank Limited was subscribed 51% on the first day of subscription on Friday. The issue closes on November 2. Retail Individual Investors’ (RIIs) category received 2.73 times subscription, while those for non-institutional investors 5 per cent. The initial public offer (IPO) includes a fresh issue of up to ₹300 crore and an offer for sale of up to 1,56,02,999 equity shares.
On November 8, One97 Communications, which operates under Paytm brand name, will come out with the country’s biggest initial public offer on November 8 in the price band of ₹2,080-2,150 per share, implying a valuation of around ₹1.48 lakh crore. The ₹18,300 crore-offer will be the biggest in the country after Coal India’s IPO (Initial Public Offer) back in 2010 wherein the state-owned had garnered ₹15,200 crore.