IPO Launch 2023: Three IPOs To Hit Dalal Street On Aug 4, To Raise Over Rs 1,600 Cr Together

The Indian stock market is going to be busy tomorrow, August 4, as three new initial public offerings (IPOs) are all set to open for subscription. All three companies will together raise fundings over Rs 1,600 crore.

In recent years, India has produced several high-potential, high-value companies. This has resulted in a considerable increase in the number of IPOs produced, with reports indicating that India has expanded its share in the global IPO market from 6% in 2021 to 11% in 2022 and then 13% year-to-date in 2023, according to data by the Indian Venture and Alternate Capital Association report. 

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Between January to July 2023 , India’s BSE and NSE witnessed 14 listings raising a total of $ 1.61 billion. 

Concord Biotech

Backed by late investor Rakesh Jhunjhunwala, Biotechnology company Concord Biotech will be the first company to open for subscription, comprising only offer for sale by Quadria Capital-backed Helix Investment Holdings Pte Limited, which is selling its entire 20% stake (2.09 crore shares) and exiting the Ahmedabad-based pharma company.

The company is planning to raise over Rs 1,550.6 crore via its maiden public issue. It is from the mainboard segment. The last date to subscribe to the issue would be August 8. The company has fixed the price band of the share at Rs 705-741 per share.

The above offer included a reservation of up to 10,000 equity shares for the company's employees. They will get these shares at a discount of Rs 70 per share to the final offer price.

Yudiz Solutions

IT solutions and consultancy firm Yudiz Solutions will be the second IPO to open on April 4. It will be raising over Rs 44.84 crore at upper price band. The IPO comprises only a fresh issue of 27.17 lakh equity shares and there is no offer for sale portion.

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The last date for subscription would be August 8 and has a price band of Rs 162-165 per share. The company will utilise the funds for acquisition, development of new product and technology, networking and cabling, and branding & marketing of the company. 

Sangani Hospitals

The small and medium enterprise IPO is the third company to open on August 4 and will close for issue on August 8. The company intends to mop up Rs 15.17 crore via public issue of 37.92 lakh equity shares.

With a price band of Rs 37-40 per share, it is a book-building issue and contains only fresh issues. The company will utilise issue the funds for expansion in hospitals, besides general corporate purposes.