Upcoming IPOs: Ventive Hospitality, Transrail, Mamata Machinery, DAM Capital to hit D-Street this week

The momentum in the primary market will continue this week, with four more companies gearing up to launch initial public offerings (IPO) to list their shares on the domestic bourses. The list includes engineering and construction company Transrail Lighting, machines manufacturer Mamata Machinery, boutique investment bank DAM Capital Advisors, and Ventive Hospitality, backed by Blackstone and Panchshil Realty. Adding to it, the ongoing public issues of healthcare-focused Inventurus Knowledge Solutions (₹2,498 crore) and Blackstone-owned gemstone certification firm International Gemmological Institute India (₹4,225 crore) will close on December 16 and December 17, respectively.

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

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.

Transrail Lighting

The Mumbai-based company, which provides solutions for the power transmission and distribution sector, is set to launch its IPO on December 19, which 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. 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.

DAM Capital Advisors

Headed by the veteran investment banker Dharmesh Mehta, the investment bank is set to launch its IPO on December 19. The issue is solely OFS of 2.96 crore equity shares with no fresh issue component and the company will announce price band for the issue on December 16.

As per the IPO document, 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.

Last week, the IPOs of One Mobikwik Systems, Vishal Mega Mart, Sai Life Sciences closed, with the issue receiving 125 times, 29 times, and 10 times, respectively, bidding. All these IPOs have also created buzz in the grey market, with their shares trading at premium over price bands, signaling strong listing on domestic bourses.