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A very wonderful and big news is coming for the investors investing in the Indian Primary Stock Market. Market regulator SEBI has given its final approval to the draft papers (DRHP) of five big companies together to create a stir in the IPO market. These companies include companies ranging from defense sector to retail, furniture rental and advanced technology manufacturing. After this green signal from SEBI, the hustle and bustle in Dalal Street has become very intense, and investors have started preparing their funds. Let us know in detail what is the business model of these five companies and how much funds they are preparing to raise through IPO.
Tombo Imaging India: OFS of 1.81 crore shares in the IPO of this defense sector company.
The first company to get approval from SEBI is Tombo Imaging India, which mainly works in manufacturing defense-focused cutting-edge products. The company’s proposed IPO comprises an offer for sale (OFS) of up to 1.81 crore equity shares with a face value of ₹2 each. Under this OFS, 19.60 lakh equity shares will be sold in the market by promoter selling shareholders, 3.40 lakh shares by promoter group and 1.56 crore equity shares by large institutional investors. JM Financial and IIFL Capital Services Limited have been appointed book running lead managers for this high-profile issue.
Mary Retail Limited: New shares worth ₹522 crore and mega plan to open 10 new clothing stores
Hyderabad based retail chain Mary Retail Limited is also all set to launch its IPO. This proposed IPO of the company is a mix of fresh issue (Fresh Issue) worth ₹522 crore and offer for sale (OFS) of 2.7 crore existing shares by promoter Mary Venkat Reddy. The company will use the fresh capital raised from this IPO to repay its old debt, open 10 new clothing stores in the country, launch a hybrid clothing outlet with jewelery store-in-store (SIS), open two new standalone jewelery stores and pay lease rent on existing warehouses. The company currently has a strong network of 34 operational stores across 26 districts in Telangana, Andhra Pradesh, Karnataka and Maharashtra, which is managed by Nuvama Wealth Management Limited.
Rentomojo: Fresh issue of ₹150 crore and strong confidence of 2.28 lakh active subscribers
Rentomojo, a well-known company in the furniture and appliances rental market, is also ready to be listed in the stock market. The company’s IPO comprises a fresh issue of equity shares worth up to ₹150 crore and an offer for sale (OFS) of up to 2.84 crore equity shares by existing shareholders. According to the draft papers, Rentomojo will use the funds to repay corporate loans, make advance payments of lease rentals or license fees for its huge warehouses and experience stores. According to data, as of last year, the company had more than 2.28 lakh active subscribers in 22 major cities of the country and the company has 21 state-of-the-art warehouses with a total area of 4.44 lakh square feet.
Jetwork Manufacturing: Big target of raising funds up to ₹5,000 crore, big global investors are with us
The biggest and most awaited name in this entire list is that of Zetwerk Manufacturing, which is planning to raise a huge fund of between ₹ 4,000 crore to ₹ 5,000 crore through this IPO. The actual size and valuation of this issue will be decided in the future through the book-building process. The company operates an advanced technology-based manufacturing platform that connects a network of suppliers to global industrial demand in core sectors such as energy, electronics, defence, aerospace and capital goods. The world’s largest and most prestigious venture capitalists like Khosla Ventures, Baillie Gifford, Rakesh Gangwal, Accel, Peak XV and Lightspeed have invested heavily in this company.
Gujarat Victory Forgings: Focus on expansion of Vadodara unit and non-ferrous metal recycling
The fifth company is Gujarat Victory Forgings, whose proposed IPO includes a fresh issue of up to 65 lakh equity shares and an offer for sale of up to 1.32 crore equity shares by promoter Vijendrakumar Bishamber Gupta. The company is engaged in the core business of manufacturing Non-Ferrous Metal Products through state-of-the-art processing and recycling of metal scrap. The company will use the funds from the fresh issue to expand its existing Unit-III located in Vadodara, Gujarat, double the copper cathode manufacturing capacity and meet its working capital expenses, which is expected to lead to a significant jump in the company’s revenues in the near future.