Primary market buzzing with activity as 4 IPOs hit the Street next week. Check out all the details

#Anand Rathi, #IPO, #MapmyIndia, #Metro Brands, #Rakesh Jhunjhunwala, #RateGain Travel, #Shriram Properties, #Star Health, IPOs, oversubscribed 3.02 times on the second day., RateGain Travel Technologies

IPOs in December

It’s raining IPOs on Dalal Street as four companies—RateGain Travel Technologies, Shriram Properties, CE Info Systems (MapmyIndia) and a Rakesh Jhunjhunwala-backed company Metro Brands—will launch their offers between December 6th and 14th.

Moreover, Anand Rathi Wealth, which has been subscribed 3.02 times, will close its IPO on December 6.

Jhunjhunwala-backed Star Health & Allied Insurance IPO, which was subscribed 79 percent, will likely list on December 10.

Here are the details of all the action in the primary market:

Anand Rathi Wealth
IPO date: December 2-6
Price band: Rs 530-550/share
Subscription on day 2: 3.02 times
OFS: 1.2 crore shares

Lot size for retail investors: Rs 14,850 for 1 lot of 27 shares; maximum of Rs 1,93,050 for 13 lots

Starting with leading non-bank wealth solutions firms in India, Anand Rathi Wealth opened its initial public offer on December 2 and will close on December 6. It was oversubscribed 3.02 times on the second day.

The portion set aside for retail investors and non-institutional investors was subscribed 4.77 times and 3.06 times, respectively. Employees have put in bids for 66 percent shares of their allotted quota, while qualified institutional buyers bought 17 percent of shares reserved for them.

Anand Rathi Wealth plans to mop up Rs 660 crore through its public issue that comprised entirely an offer-for-sale of 1.2 crore equity shares. The company mobilised Rs 194 crore from anchor investors on December 1. The price band of the offer is Rs 530-550 per equity share.

As per IPO Watch, it was trading at a premium of Rs 100 in the grey market on December 4, indicating decent listing.

Also read: Subscribe to Anand Rathi Wealth: Emkay Global Financial

RateGain Travel Technologies
IPO date: December 7-9
Price band: Rs 405-425/share
Fresh issue: Rs 375 crore
OFS: 2.26 crore shares
IPO size: Rs 1,336 crore

Lot size for retail investors: Rs 14,875 for 35 shares in 1 lot; Rs 1,93,375 for 13 lots

RateGain Travel Technologies is the largest Software as a Service company in the hospitality and travel industry in India, and has fixed a price band for its IPO at Rs 405-425 per equity share.

The anchor book of the company is expected to open for a day on December 6.

Its IPO comprises a fresh issue of Rs 375 crore, and an offer for sale of up to 2.26 crore equity shares.

The offer includes shares worth Rs 5 crore for the company’s employees, who can subscribe at a discount of Rs 40 per share.

The public issue will fetch the company Rs 1,335.73 crore at the upper price band.

Proceeds from the fresh issue will be utilised to repay debts availed by subsidiary RateGain UK; payment of deferred consideration for acquisition of DHISCO; and strategic investments, acquisitions and inorganic growth.

Also read: Subscribe to Rategain Travel Technologies: Prabhudas Lilladher

The company will also use the proceeds to invest in technology innovation, artificial intelligence and other organic growth initiatives; purchase of certain capital equipment for data centers; and general corporate purposes.

The company posted a consolidated loss of Rs 28.57 crore in FY21, against loss of Rs 20.1 crore in the previous year. Revenue in the same year declined to Rs 250.79 crore from Rs 398.71 crore.

RateGain will finalise the IPO share allotment by December 14, and is expected to debut on the BSE and NSE on December 17.

Also read: Why Rakesh Jhunjhunwala-backed Star Health’s IPO failed to enthuse investors

Shriram Properties
IPO date: December 8-10
Price band: Rs 113-118/share
Fresh issue: Rs 250 crore
OFS: Rs 350 crore
IPO size: Rs 600 crore

Lot size for retail investors: Rs 14,750 for 1 lot of 125 shares

South India-based residential real estate development company Shriram Properties is set to launch its initial public offering on December 8 at a price band of Rs 113-118 per share to raise a total of Rs 600 crore.

The IPO comprises a fresh issue of Rs 250 crore, and an offer for sale of Rs 350 crore.

The company will use the funds from the fresh issue to repay debt and general corporate purposes.

In FY21, it posted a loss of Rs 68.17 crore against a loss of Rs 86.39 crore in the previous year. Revenue from operations declined to Rs 431.5 crore from Rs 571.96 crore during the same period.

In the six-month period ended on September 30, it posted a loss of Rs 60.03 crore on revenue of Rs 118.17 crore.

Also read: Tega Industries IPO: Why is it commanding strong grey market premium?​

CE Info Systems (MapmyIndia)
IPO date: December 9-13
Price band: Not announced
Fresh issue: N/A
OFS: 1.006 crore shares

IPO size: Rs 1,200 crore

CE Info Systems, popularly known for its brand MapmyIndia, will launch its initial public offer on December 9-13, and disclose its price band and lot size net week.

The maiden public offer of 1,00,63,945 equity shares is entirely an offer for sale by shareholders including Qualcomm Asia Pacific Pte Ltd. Hence, the company will not receive any funds from the IPO.

CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service, software as a service and platform as a service.

Also read: After record fund raising in November, 8-10 IPOs expected this month

As of September, it had serviced over 2,000 enterprise customers including players such as PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, and Safexpress, and government institutions such as the Goods and Service Tax Network.

CE Info Systems recorded a profit of Rs 59.43 crore in FY21, up sharply from Rs 23.19 crore in the previous year. Revenue during the same period rose to Rs 152.46 crore from Rs 148.63 crore YoY.

Profit in the six-month period ended September jumped to Rs 46.76 crore, compared to Rs 17.86 crore in same period last year. Revenue during the same period jumped to Rs 100.03 crore from Rs 55.18 crore YoY.

Also read: Daily Voice | Star Health may see a weak debut, but insurance industry’s medium-long term growth intact, says Vinod Nair of Geojit

Metro Brands
IPO date: December 10-14
Price band: Not announced
Fresh issue: Rs 295 crore

OFS: 2.14 crore shares

Ace investor Rakesh Jhunjhunwala-backed Metro Brands will launch its maiden public offer for subscription on December 10, which will close on December 14. It will announce the price band and lot size next week.

Metro Brands’ initial public offer comprises a fresh issue of Rs 295 crore, and an offer for sale of 2,14,50,100 equity shares by promoters.

One of the largest Indian footwear speciality retailers, Metro Brands will utilise the net proceeds from the fresh issue to open new stores under brands such as Metro, Mochi, Walkway and Crocs, and the rest will be used for general corporate purposes.

Its profit declined significantly to Rs 64.62 crore in FY21 from Rs 160.57 crore in FY20 due to Covid-led lockdowns. Revenue dropped sharply to Rs 800.06 crore from Rs 1,285.16 crore in the same period.

In the six-month period ended September 2021, the company recorded profit of Rs 43.07 crore against loss of Rs 43.11 crore in the same period last year. Revenue surged to Rs 456 crore from Rs 176.54 crore.

Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala is the third largest shareholder in the company, owning 14.73 percent stake, while promoter and promoter group owned 83.99 percent stake.

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