5 IPOs This Week: From Craftsman Automation To Nazara Technologies, Companies Expect To Raise Over ₹3,700 Crore. Check Details

It is estimated that all the five companies will raise ₹3,764 crore together with their IPOs.

Representational Picture (AFP)

Mumbai: In view of the upbeat market conditions, the initial public offering market (IPO) has bounced back with almost five companies going public this week. It is estimated that all these companies will raise ₹3,764 crore together.

On Monday, two companies including Craftsman Automation and Laxmi Organics Industries will launch their initial share-sale programmes while Kalyan Jewellers India will open the issue on Tuesday. Other companies include Suryoday Small Finance Bank and Nazara Technologies which will open the issue on Wednesday, as per the information on exchanges. Also Read: Bank Strike Today: Operations To Be Affected As Employees Protest Against Govt's Disinvestment Plan - Key Details

Here are details of the five IPOs to open up this week:

1. Craftsman Automation Ltd: Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities involved in three business segments: automotive - powertrain and others, automotive – aluminium products, and industrial and engineering. The company aims to raise Rs 824 crore and it has fixed a price band of Rs1,488-1,490 a share for its IPO. The issues closes on March 17^. The allotment of shares is likely to be finalised on 22th March while listing may happen on 25th March, as per the brokerages.
2. Laxmi Organic Industries: Laxmi Organics' IPO consists of fresh issuance of shares aggregating to Rs 300 crore and an offer for sale worth Rs 300 crore by the promoter Yellow Stone Trust. The price band has been fixed at Rs 129-130 per share for the IPO, which will open for public subscription during March 15-17.The IPO will close on March 17.
3. Kalyan Jewellers India Limited: Kalyan Jewellers' promoter T S Kalyanaraman would be offloading shares worth up to Rs 125 crore, while Highdell Investment Ltd, an affiliate of Warburg Pincus, would sell up to Rs 250 crore worth of shares through the OFS route.The company has set the price band at Rs 86-87 a share for the initial share-sale, which will conclude on 18 March.
4. Suryoday Small Finance Bank: In the NBFC sector, Suryoday Small Finance Bank will be make a fresh issuance of 81,50,000 equity shares and an offer for sale of up to 1,09,43,070 equity shares by existing shareholders. The price band of Rs 303-305 a share has been fixed and the issue will open for public subscription on 17 March and close on 19 March. At the upper end of the issue, the IPO would fetch Rs 582 crore. The small finance bank has proposed to utilise proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet future capital requirements.
5. Nazara Technologies: Another company on the list is the gaming firm Nazara Technologies'. It is expected to raise Rs 583-crore through public issue and see sale of 52,94,392 equity shares by the promoters and existing shareholders. Those selling shares in the IPO include Mitter Infotech LLP, a promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments. Ace investor Rakesh Jhunjhunwala has invested in the company also popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. The company's IPO will be open for subscription during 17-19 March with a price band of Rs 1,100-1,101 a share for the issue.

(With agency inputs)