Devyani International, Exxaro Tiles, Windlas Biotech & Krsnaa Diagnostics IPOs to open on August 4: Details that investors need to know
July 2021 can be dubbed as a successful month as far as IPOs are concerned as the majority of the IPOs were able to reward their investors with a nearly 50 to 100 per cent premium on the issue price.
July 2021 can be dubbed as a successful month as far as IPOs are concerned as the majority of the IPOs were able to reward their investors with a nearly 50 to 100 per cent premium on the issue price. The month witnessed company's like Glenmark Life Sciences, Rolex Rings, Tatva Chintan Pharma and Zomato going public.
Four initial public offerings (IPOs) are scheduled to open for public subscription in the first week of August 2021. The four companies that will open their public issues are Devyani International, Exxaro Tiles Limited, Windlas Biotech Limited and Krsnaa Diagnostics Limited. Interestingly, all these four IPOs will open for subscription on August 4, 2021. Let's look at these IPOs one-by-one
Devyani International IPO: All you need to Know
Devyani International, the operator of KFC, Pizza Hut and Costa Coffee, will open its initial public offering for subscription on August 4, 2021. The public offer will close on August 6, 2021, Anchor book, if any, will open for bidding on August 3, 2021, a day before the issue opens.
The initial public offering comprises a fresh issue of Rs 440 crore and an offer for sale (OFS) of 15,53,33,330 equity shares by the investor and promoter. Investor Dunearn Investments will sell 6,53,33,330 equity shares, and promoter RJ Corp will offload 9 crore equity shares through an offer for sale. The offer includes 5.5 lakh equity shares for the company's employees.
Devyani International has fixed a price band for its public offer at Rs 86-90 per equity share. It seeks to raise Rs 1,838 crore at the higher end of the price band. Investors can bid for a minimum of 165 equity shares and in multiples of 165 equity shares thereafter. Retail investors can invest a minimum of Rs 14,850 per lot and the maximum investment would be Rs 1,93,050 for 13 lots as they are allowed to invest up to Rs 2 lakh in an IPO.
The company has reserved up to 75 per cent of a total offer for the investment by qualified institutional buyers, 10 per cent by retail investors and 15 per cent by non-institutional investors. The company will utilise the net proceeds from its fresh issue towards repayment of borrowings of around Rs 324 crore, and general corporate purposes. The offer for sale money will go to selling shareholders.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue.
Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major Pepsico, and has interests in the Indian retail F&B sector. It currently operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as of March 2021 in India.
Exxaro Tiles IPO: All you need to know
Exxaro Tiles, a leading manufacturer of vitrified tiles, will open its initial public offering (IPO) on August 4, 2021. The public issue will close on August 6, 2021. Anchor investors' book, if any, is expected to open for a day on August 3, a day before the offer opening.
The initial public offering of up to 1,342,4000 equity shares comprises a fresh issue of up to 1,11,86,000 equity shares and an offer-for-sale of up to 22,38,000 equity shares by Dixitkumar Patel.
The company has fixed a price band of Rs 118-120 per equity share. The company seeks to raise up to Rs 161.08 crore at the higher end of the price band. Proceeds from the fresh issue would be utilised towards repaying/prepaying of borrowings, fund its working capital requirements besides utilising it for general corporate purposes.
Pantomath Capital Advisors is the book running lead manager to the issue. The equity shares will be listed on NSE and BSE.
Exxaro Tiles is primarily engaged in the business of manufacturing and marketing vitrified tiles used majorly for flooring solutions catering to residential and commercial segments. It currently has over 2,000 dealer networks across 27 states.
Windlas Biotech IPO: All you need to know
Windlas Biotech, the manufacturer of pharmaceutical formulations, will open its initial public offering (IPO) for subscription on August 4, 2021. The public offer will close on August 6, 2021.
The Windlas Biotech IPO comprises fresh issuance of equity shares worth Rs 165 crore and an offer for sale (OFS) of up to 5,142,067 equity shares. As a part of the OFS, Vimla Windlass will offload 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will sell 40,06,067 equity shares.
The company has fixed the price band of the initial share sale at Rs 448-460 per share. At the upper end of the price band, the initial share sale is expected to garner more than Rs 400 crore. Investors can bid for a minimum of 30 equity shares and in multiples of 30 shares thereafter.
50 per cent portion of the net issue is reserved for qualified institutional buyers (QIBs), whereas 15 per cent stake will be allotted to non-institutional investors (NIIs). Retail investors will have 35 per cent of the issue size earmarked for them.
The net proceeds from the fresh equity issue will be utilised for the purchase of equipment required for capacity expansion of the existing facility at Dehradun Plant, repaying of certain borrowings and working capital requirements.
SBI Capital Markets, DAM Capital Advisors and IIFL Securities have been appointed as book-running lead managers (BRLMs) of the issue. Link Intime India is the registrar of the issue.
Dehradun-based Windlas Biotech is one of the top companies in the domestic pharmaceutical formulations contract development and manufacturing organization (CDMO) in India.
Krsnaa Diagnostics Ltd IPO: All you need to know
Krsnaa Diagnostics Ltd, one of the fastest-growing diagnostic chains in India, will open its initial public offering (IPO) for subscription on August 4, 2021. The public offer will close on August 6, 2021. Anchor investors' book, if any, will open for a day on August 3, 2021.
The company's public issue comprises a fresh issue of Rs 400 crore and an offer for sale of up to 85,25,520 equity shares by existing selling shareholders. The offer for sale consists of the sale of 16 lakh equity shares by PHI Capital Trust-PHI Capital Growth Fund-I; 33,40,713 equity shares by Kitara PIIN 1104; 35,63,427 equity shares by Somerset Indus Healthcare Fund I; and 21,380 equity shares by Lotus Management Solutions (acting through Mayur Sirdesai). The offer includes a reservation of Rs 20 crore worth of shares for employees, who will have a discount of Rs 93 per share to the final issue price.
Krsnaa Diagnostics has been fixed a price band for its public offer at Rs 933-954 per equity share. It seeks to raise up to Rs 1,213.76 crore at the upper end of the issue price. Investors can bid for a minimum of 15 equity shares and in multiples of 15 equity shares thereafter.
The company will utilise net proceeds of the fresh issue for establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra; repaying of debts; and general corporate purposes.
JM Financial, DAM Capital Advisors, Equirus Capital, and IIFL Securities are the book running lead managers to the issue.
Krsnaa Diagnostics was incorporated in 2010. The company provides a wide range of diagnostic services such as imaging/radiology services (X-rays, MRI, etc.), routine clinical laboratory tests, pathology, and teleradiology services. The customer base is primarily private and public hospitals, medical colleges, and community health centres.