Initial Public Offering: The Dalal Street off late has been jampacked with several Initial Public Offerings (IPOs) of different companies, and the first and second week of December is no different. In the running week starting Monday, December 6, as many as four companies will float their IPOs. These are CE Info Systems (MapmyIndia), RateGain Travel Technologies, Shriram Properties, and Metro Brands. Metro Brands is the second Rakesh Jhunjhunwala-backed company that will float its IPO in the recent days, with Star Health IPO closing just three days back. All the companies will open their IPOs between December 6 to 14, keeping up the trend.
Let us take a look at the four IPOs that will open between December 6 and December 14:
CE Info Systems IPO or MapmyIndia IPO
CE Info Systems IPO will open on December 9 and close on December 13. The company, which is known for its brand MapmyIndia, has fixed a price band of Rs 1,000 to Rs 1,033 for its maiden public offer. The MapmyIndia IPO comprises 1.006 crore shares up for sale and plans to mop up Rs 1,200 crore at the upper end of the price band. The MapmyIndia IPO of 1,00,63,945 equity shares is a fully Offer For Sale and hence the company will not receive any funds from the IPO. The proceeds will go to existing shareholders including Qualcomm Asia Pacific Pte Ltd.
RateGain Travel Technologies IPO
RateGain Travel Technologies is the largest Software as a Service firm in India operating in the hospitality and travel sector of the country. The RateGain Travel Technologies IPO will open on December 7. The maiden public issue of the company will be open for bidding for three days, before closing on December 9. The price band of the IPO has been fixed at Rs 405-425 per equity share, the company announced. The public issue of RateGain Travel Technologies is likely to fetch Rs 1,335.73 crore at the upper price band. The IPO consists of a fresh issue worth Rs 375 crore, and an offer for sale of up to 2.26 crore equity shares. The offer also includes shares worth Rs 5 crore for employees, who can bid for the shares at a 40 per cent discount.
Shriram Properties IPO
Shriram Properties, a residential real estate development firm based in south India, is set to open its initial public offering on December 8 for three days before closing on December 10 after a three-day bidding process. The price band of the Shriram Properties IPO has been fixed at Rs 113 to Rs 118 per equity share. The offer comprises of a fresh issue worth Rs 250 crore and an offer for sale by existing shareholders worth Rs 350 crore. The Shriram Properties IPO is likely to fetch Rs 600 crore at the upper price band. The proceeds raised from the fresh issue will be used by the company to to clear debt and for general corporate purposes. In FY21, Shriram Properties posted a loss of Rs 68.17 crore against a loss of Rs 86.39 crore a year back. During the same period, its revenue from operations went down to Rs 431.5 crore from Rs 571.96 crore.
Metro Brands IPO
Metro Brands, backed by ace investor Rakesh Jhunjhunwala, will open its IPO on December 10, days after Star Health IPO opened for subscription. The company will continue its maiden public offer for four days and close on December 14. The Metro Brands IPO price has not been declared yet but is expected within the running week. The public offer comprises a fresh issue of Rs 295 crore, and an offer for sale of 2,14,50,100 equity shares by promoters. The proceeds from the Metro Brand IPO, which runs one of India’s largest footwear brands, will be used to open new stores and for general corporate purposes.
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