Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
India's primary market is set for another active week with four public issues scheduled to open for subscription, including the INR 5,000 crore Infrastructure Investment Trust (InvIT) issue of Cube Highways Trust and the initial public offerings of Indo MIM, Lohia Corp and Xtranet Technologies. The issues are expected to attract investor interest across infrastructure, manufacturing and technology sectors. Cube Highways Trust has already secured INR 1,250 crore from strategic investors ahead of its public issue, while the three IPOs collectively represent fundraising across precision engineering, technical textiles and information technology. So far this year, 32 companies have entered the primary market through maiden public offerings, with another IPO currently open for subscription.
India's primary capital market is expected to witness another busy week as four public issues, including the Infrastructure Investment Trust (InvIT) of Cube Highways Trust and the initial public offerings (IPOs) of Indo MIM, Lohia Corp and Xtranet Technologies, are scheduled to open for subscription over the coming week.
Cube Highways Trust will launch its INR 5,000 crore InvIT public issue on Tuesday, with the subscription window remaining open until Thursday. The trust has fixed a price band of INR 151–152 per unit, while bidding by anchor investors is scheduled a day before the issue opens.
The public issue comprises a 100% book-built offer for sale by existing unitholders as Cube Highways Trust transitions from a privately listed InvIT to a publicly listed investment platform. Ahead of the launch, the trust secured INR 1,250 crore from strategic investors through unit subscription agreements.
The IPOs of precision engineering manufacturer Indo MIM, technical textile machinery producer Lohia Corp and information technology company Xtranet Technologies will open for subscription on Wednesday and close on Sunday. Anchor investor participation for all three mainboard offerings is scheduled on Tuesday.
Indo MIM's public issue comprises a fresh issue of equity shares worth INR 500 crore along with an offer for sale of up to 6.82 crore shares by existing shareholders. According to market sources, the total issue size is expected to exceed INR 3,500 crore.
The company plans to utilise INR 400 crore from the fresh issue proceeds to repay outstanding borrowings, while the remaining funds will be allocated towards general corporate purposes. Established in 1996, Indo MIM operates 15 manufacturing facilities across India, the United States, the United Kingdom and Mexico, serving sectors including automotive, defence, medical devices, consumer products and aerospace.
Lohia Corp's IPO consists entirely of an offer for sale of up to 2.59 crore equity shares, with the company not receiving any proceeds from the transaction. The company manufactures machinery and equipment used in the production of technical textiles, particularly polypropylene (PP) and high-density polyethylene (HDPE) woven fabrics and sacks.
Meanwhile, Xtranet Technologies is launching a fresh issue worth INR 170 crore without any offer for sale component, according to its Red Herring Prospectus. The company intends to use the proceeds for repayment of debt, procurement of systems and hardware, working capital requirements and general corporate purposes.
Founded in 2002, Xtranet Technologies provides information technology services and end-to-end digital solutions, including enterprise applications, managed services, digital services and proprietary technology platforms.
The primary market has remained active this year, with 32 companies having launched their maiden public offerings so far. In addition, the IPO of Caliber Mining & Logistics is currently open for subscription, reflecting continued activity in India's equity fundraising market.
Source - PTI
Advertisement
Facebook
Whatsapp
