An active period is expected in the primary market next week as six different companies intend to conduct Initial Public Offerings (IPOs), aiming to collectively raise nearly 560 billion Indian rupees.
Among the companies going public are Horizon Industrial Parks, backed by Blackstone, and Lalithaa Jewellery Mart. These new listings follow five IPOs that took place last week, as well as three companies that went public earlier this month.
Details of Upcoming Listings
The week will begin for Horizon Industrial Parks on August 17th with an IPO worth 260 billion rupees. On the same day, the jewelry retailer Lalithaa Jewellery Mart will launch with a listing of 170 billion rupees.
On August 18th, the IPOs of Sankesh Jewellers and film and television producer Sunshine Pictures will open, with volumes amounting to 36.7 billion and 28.2 billion rupees, respectively. Next, on August 19th, Gaja Alternative Asset Management, operating under the brand Gaja Capital, will launch its IPO at 55 billion rupees, followed by the offering of Tempsens Instruments (India) on August 20th.
Collectively, these six companies expect to raise approximately 560 billion rupees. The funds raised from these new issues will primarily be directed towards business expansion, capital expenditures, debt repayment, and other corporate needs.
Considering these listings, it is projected that the number of companies conducting IPOs will increase to 54 by 2026.
IPO Structure and Terms
The Horizon Industrial Parks offering of 260 billion rupees is entirely a fresh issue, with the price band set at 57–60 rupees per share. The company plans to use the proceeds to service its borrowings.
Lalithaa Jewellery Mart has set a price band of 190–201 rupees per share. Its 170 billion rupee listing includes a fresh issue of up to 120 billion rupees and an Offer for Sale (OFS) of up to 50 billion rupees.
The Sankesh Jewellers IPO of 36.7 billion rupees has a price band of 88–93 rupees per share. It consists of a fresh issue of up to 2.95 million shares and an OFS of up to 1 million shares.
Sunshine Pictures has set a price band of 342–360 rupees for its 28.2 billion rupee offering. The IPO includes a fresh issue of 48 lakh shares and an OFS of 30.37 lakh shares, totaling 78.37 lakh shares.
Promoter shareholders Vipul Amrutlal Shah and Shefali Vipul Shah will sell shares through the OFS mechanism.
Gaja Alternative Asset Management has set a price band of 152–160 rupees per share for its 55 billion rupee IPO. The offering includes a fresh issue of up to 45 billion rupees and an OFS of up to 10 billion rupees.
Tempsens Instruments (India) will offer a fresh issue of 9.5 billion rupees along with an OFS of 1.85 million shares.
It is also worth noting that the aviation logistics company Skyways Air Services has planned to launch its IPO of 58.3 billion rupees on August 24th, maintaining activity in the primary market after the end of the current week.
