There will be an influx of IPOs next week
Investors will see three new IPOs starting next week, February 9, two of which are from the main board segment. The amount to be raised by these companies through IPO will be Rs 3,870.87 crore. The initial public offers (IPOs) of both the main boards – Fractal Analytics and AI Finance – will open for subscription on February 9 and close on February 11. Pure AI company Fractal Analytics, backed by global investors Apax Partners and TPG, is raising Rs 2,834 crore through its maiden public offering at the upper price band of Rs 857-900 per share.
price band of ai finance
The IPO is a combination of an issue of new shares worth Rs 1,023.5 crore and an offer of shares worth Rs 1,810.4 crore by TPG Fate Holdings, Apax Partners’ Quinag Bidco, GLM Family Trust and Satya Kumari Remala and Rao Venkateswara Remala. Alphabet and LGT Capital-backed NBFC AI Finance has set a price of Rs 122-129 per share for its initial share sale of Rs 1,010 crore. It aims to raise Rs 710 crore through a fresh issue of shares, while Alpha Wave India, MAJ Invest Financial Inclusion Fund, CapitalG, LGT Capital Invest Mauritius and Vikram Jaitley will sell shares worth Rs 300 crore.
Marushika Technology IPO
Even before the IPO opened, AI Finance raised over Rs 454 crore and Fractal Analytics raised Rs 1,248 crore through its anchor book on February 6. The third IPO – Marushika Technology – will be from the small and medium enterprise (SME) sector. The IT and telecom infrastructure solutions provider intends to raise Rs 26.97 crore through a public issue of 23.05 lakh shares. The offer will open on February 12 with a price band of Rs 111-117 per share and will close on February 16.
These companies will be listed
Besides, specialty chemicals maker Biopol Chemicals and human resource solutions provider Pan HR Solutions will close their public offerings on February 10. Both IPOs opened on February 6, receiving subscriptions of 81 percent and 12 percent respectively. Meanwhile, all four companies entering the market next week are from the Small and Medium Enterprises (SME) sector. Of these, Brandman Retail and Grover Jewels are the first companies to be listed on February 11. During February 4 to 6, their IPOs were subscribed approximately 107 times and 18 times respectively. Before this, Biopol Chemicals and Pan HR Solutions will be listed on 13 February.