IPO News: The easiest way to make huge profits in the stock market is to invest in IPOs. Many companies have introduced IPOs in 2022. At the same time, the opportunity to earn money by investing in IPO has come again. IPOs of around 30 companies will come in the next few months. One of these companies has presented documents to bring its initial issue i.e. IPO. This company is Balaji Specialty Chemicals. The company has submitted documents with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through IPO.
How big will the IPO be?
According to the draft documents, new equity shares of up to Rs 250 crore will be issued under the IPO. In addition, the promoter and promoter group institutions will make an offer for sale (OFS) of 2,60,00,000 equity shares. Of the amount to be raised from the issue, Rs 68 crore will be used for debt repayment and Rs 119.5 crore will be used for working capital requirements and general corporate purposes. The company may also consider a pre-IPO issue of Rs 50 crore. In such a case the size of the new issue will be reduced.
30 IPOs coming soon
The Rs 840 crore IPO of electronic manufacturing services company Sirma SGS Technology will open on August 12. Sirma SGS gave this information on Monday. This will be the first IPO to come up in the last two and a half months with an initial public offering. Earlier, the IPO of Ather Industries was open for subscription from May 24 to 26. The company has fixed a price of Rs 209.220 per equity share for its IPO, the statement said. The public issue of Sirma SGS Technology comprises of fresh shares worth Rs 766 crore and offer for sale of 33.69 lakh equity shares by Veena Kumari Tandon. At the upper end of the price range, the company expects to raise Rs 840 crore. The issue will close on August 18.
28 companies got approval
SEBI has approved 28 companies to initiate initial public offerings (IPOs) during April-July in the financial year 2022-23. A total of Rs 45,000 crore is planned to be raised through these issuances. Firms that have received regulatory approval for IPO include lifestyle retail brand Fabindia, FIH Mobiles and Foxconn Technology Group subsidiary- Bharat FIH, TVS Supply Chain Solutions, Blackstone-backed Aadhar Housing Finance and McLeods Pharmaceuticals & Kids Clinic India Are included. Merchant bankers said these firms are yet to announce their IPO dates and are waiting for the right time to issue.
Preparations to raise 45,000 crores
“The current environment is challenging and companies that have approval are waiting for the right time to launch an IPO,” said Prashant Rao, Director and Head Equity Capital Markets, Anand Rathi Investment Banking, Securities and Exchange of India. A total of 28 companies got regulatory approval for raising capital through IPOs during April-July 2022-23, according to the Board’s (Sebi) data. Together, these firms are expected to raise Rs 45,000 crore. So far in the current financial year, 11 companies have raised Rs 33,254 crore through IPO
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