IPO Rush Next Week, Five Firms Eye Over ₹7,400 Crore

Mumbai: India’s primary market is set for a busy week as five companies, including Dhoot Transmission, Shiprocket and Milky Mist Dairy Food, prepare to launch initial public offerings (IPOs) worth a combined Rs 7,443 crore.

The IPOs will open between August 10 and August 12, with companies planning to use proceeds largely for expansion, capital expenditure, debt repayment and general corporate purposes.

Dhoot Leads

Auto components maker Dhoot Transmission will open its Rs 3,067-crore IPO on August 10, with a price band of Rs 829-871 per share.

The issue comprises a fresh issue of up to Rs 1,400 crore and an offer for sale (OFS) of up to 1.91 crore shares by existing shareholders, including Bain Capital entity BC Asia Investments XV Ltd.

Point-of-care diagnostics company Molbio Diagnostics will also open its IPO on August 10. The Temasek and Motilal Oswal Private Equity-backed firm has set a Rs 768-807 price band for its Rs 904-940 crore offering.

The IPO includes a fresh issue of up to Rs 200 crore and an OFS of up to 91.66 lakh shares.

Dairy Debut

Milky Mist Dairy Food will launch its Rs 1,553-crore IPO on August 11 at Rs 133-140 per share. It comprises a fresh issue of up to Rs 1,428 crore and an OFS worth up to ₹125 crore.

The offering is set to become the largest IPO by an Indian dairy company.

Shiprocket Issue

Temasek-backed e-commerce enablement platform Shiprocket will open its Rs 1,617.5-crore IPO on August 12 at a price band of Rs 92-97 per share.

The offering consists of a fresh issue of up to Rs 885.50 crore and an OFS worth up to Rs 732 crore by existing shareholders.

Engineering Offer

Behari Lal Engineering will also launch its Rs 302-crore IPO on August 12. Its price band has been fixed at Rs 271-285 per share.

The issue comprises a fresh issue of up to Rs 93 crore and an OFS of up to 73.20 lakh shares.

Meanwhile, IPOs of KKR-backed LEAP India and Technocraft Ventures are already open for subscription. With the upcoming launches, the number of companies entering the IPO market this year will rise to 47.