This week, four more IPOs are making their debut on Dalal Street. These include CarTrade Tech and Nuvoco Vistas Corporation. The issues for these two companies will be open for subscription between 9-11 August. Chemplast Sanmar and Aptus Value Housing Finance India will open their issues for subscription sometime from 10-12 August. What’s more, several other IPOs are expected to launch in the coming weeks. At the moment of writing, the grey market premium for these upcoming issues is holding the ground.
Mumbai-based CarTrade is an online, multi-channel, auto classified platform. It offers access to different vehicle types and its platform operates across several brands. These include Shriram Automall, CarWale, CarTrade, BikeWale, CarTrade Exchange, Adroit Auto, and AutoBiz. All the proceeds of the issue will go to current investors who are offloading their stake. What’s to be noted is that in the grey market, the company is commanding a premium of Rs 400 per equity share, which translates to about 25 percent over its issue price.
Nuvoco Vistas Corporation
Nuvoco Vistas is the fifth largest cement company in India and one of the leading ready-mix concrete manufacturers in the country. The company aims to raise Rs 5,000 crores through its IPO with an offer for sale of Rs 3,500 crores by promoter Niyogi Enterprise, as well as a fresh issuance of Rs 1,500 crores. It has raised Rs 1,500 crores from investors already. Nuvoco Vistas wants to use the proceeds from its issue for repaying borrowings and general corporate purposes.
Chemplast Sanmar has three factories in Tamil Nadu and one in Puducherry. The parent company, Sanmar Group, has interests in chemicals, shipping, and engineering. Chemplast Sanmar is hitting the capital markets with a public float that is set to open between August 10 and 12. The company is going to raise Rs 3,850 crores through its primary offer. This includes a fresh issue of Rs 1,300 crores and an offer for sale (OFS) of Rs 2,550 crores by promoters Sanmar Holdings (SHL) and Sanmar Engineering Services (SESL). The proceeds from this fresh issue will be used for the redemption of non-convertible debentures worth Rs 1,238.25 crores and other general purposes.
Aptus Value Housing Finance India
As one of the largest housing finance companies in South India, Aptus Value Housing Finance India’s IPO debut is something to watch out for. A price band of Rs 346-353 per share for its Rs 2,780 crore IPO has been fixed by the company. Its public float is set to open on August 10 and close on August 12. All the proceeds of the issue will be used towards meeting the company’s capital base to check future capital requirements.