Dalal Street will see flurry of new listing in the last two weeks of the year, with more than 15 companies including Vishal Mega Mart, Mobikwik, International Gemmological Institute India eyeing debut on the domestic bourses. In a fresh development in the primary market, six main board companies,to raise around ₹4,500 crore collectively500 crore, have unveiled price band for their initial public offerings (IPO), which will open for subscription this week. The list includes yarn manufacturer Sanathan Textiles, engineering and construction company Transrail Lighting, machines manufacturer Mamata Machinery, boutique investment bank DAM Capital Advisors, wastewater treatment solutions provider Concord Enviro Systems, and Ventive Hospitality, backed by Blackstone and Panchshil Realty.

Here’s all you need to know about upcoming IPOs:

DAM Capital

Renowned banker Dharmesh Mehta-led investment banking firm has set the price band of its upcoming public issue at ₹269-283 per share. The IPO, which will open for subscription between December 19-23, is completely an offer for sale (OFS) of 2.96 crore equity shares with no fresh issue component. At the upper end of the price band, the company looks to raise ₹840 crore, valuing the company at around ₹2,000 crore.

Under the OFS, promoter Dharmesh Anil Mehta, and four investors - Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, Easyaccess Financial Services – will pare stake in the company via OFS of India’s first public issue by a pure-play boutique investment bank.

Concord Enviro Systems 

The water and wastewater treatment solutions provider, backed by the Mauritius-based AF Holdings, has set a price band of ₹665-701 per share for its public issue, set to open on December 19. Anchor book will open for a day on December 18, while the IPO will close on December 22.

The issue is a combination of fresh equities worth ₹175 crore and offer for sale of 0.46 crore shares amounting to ₹325.33 crore by existing shareholder, taking the total IPO size to ₹500.33 crore. At the upper price band, the market capitalisation of the company is pegged to be around ₹1,450 crore.

Sanathan Textiles

The yarn manufacturer has fixed the price band for its IPO at ₹305-321 per equity share of a face value of ₹10 each, which is scheduled to open on December 19 and close on December 23. The issue is a mix of a fresh issue of ₹400 crore and an OFS of ₹150 crore by promoter selling shareholders, aggregating to ₹550 crore.

Transrail Lighting

The Mumbai-based company, which provides solutions for the power transmission and distribution sector, has set price band of its IPO at ₹410-432 per share. The IPO, set to be launched on December 19, is a combination of fresh issuance of equity shares worth ₹400 crore, and an OFS of 1.01 crore equity shares by promoter Ajanma Holdings. At the upper end of the price band, the OFS amounts to ₹439 crore, taking the total issue size to ₹839 crore. The market capf of the company is estimated to be around ₹5,800 crore.

The company will use IPO proceed to meet its incremental working capital requirements, capital expenditure, and general corporate purposes. Ahead of the IPO, the company raised ₹50 crore in a pre-IPO placement, from Volrado Venture Partners Fund IV Gamma, Shyamsundar B Asawa, Saurabh Sanjay Agrawal, and Divyam Sanjay Agrawal, at a price of ₹484 per equity share.

Mamata Machinery

The company, which manufactures machines used for producing pouches, plastic bags, packaging, and extrusion equipment, will launch its IPO on December 19 to raise ₹179 crore from investors. The issue is entirely an OFS of nearly 74 lakh shares by promoters, which will be offered at price band of ₹230 to ₹243 per share. The minimum lot size for retail investors is 61 shares.

Ventive Hospitality

The hospitality company, a joint venture between Blackstone Group and Panchshil Realty, is going to launch its ₹1,600 crore IPO on December 20. The issue is completely a fresh issue of equity shares with no offer for sale component (OFS).

The Pune-based hospitality asset owner intends to use ₹1,400 crore to repay its debt and the remaining ₹200 crore will be used to meet general corporate purposes. As of September 30, 2024, the total debt of the company stood at ₹3,609.5 crore.

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