Specialty chemicals maker Ami Organics' public issue comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 6,059,600 equity shares by the promoter and existing shareholders. The initial share sale will see a stake dilution of 35 per cent by the promoter and existing shareholders. Vijaya Diagnostics' public issue is entirely an offer for sale of 35,688,064 equity shares by the promoter, S Surendranath Reddy, and investors - Karakoram Ltd and Kedaara Capital Alternative Investment Fund. Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centers at Punjab, Karnataka, Himachal Pradesh, and Maharashtra repayment of loans availed by the company, and general corporate purposes. Those offering shares in the OFS are - Phi Capital, Kitara, Somerset Indus Healthcare Fund Ltd, and Lotus Management Solutions. Krsnaa Diagnostics' IPO consists of a fresh issue of equity shares worth Rs 400 crore and an offer for sale of up to 94,16,377 shares by its existing shareholders. Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs), with a focus on research and development. Proceeds from the fresh issue will be used for funding capital expenditure requirements, repaying debt, and general corporate purposes. Supriya Lifescience's IPO comprises a fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to Rs 1,000 crore by its promoter Satish Waman Wagh. Online auto classifieds platform CarTrade Tech IPO will be entirely an offer for sale (OFS) of 12,354,811 equity shares.Īmong the investors participating in the OFS are CMDB II (16.07 lakh equity shares), Highdell Investment Ltd (53.79 lakh shares), Macritchie Investments Pte Ltd (35.68 lakh shares), Springfield Venture International (11.24 lakh shares), and Bina Vinod Sanghi (1.83 lakh shares).Ĭurrently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding, and Springfield Venture International holds 7.09 per cent stake in the company.įounded in 2009, CarTrade is backed by marquee investors - Warburg Pincus, Temasek, JP Morgan, and March Capital. Valuations are also stretched in the chemical sector therefore investors should stick with quality stocks in this space that have growth visibility.Proceeds from the fresh issue will be utilised towards augmenting the company's capital base and to meet future growth requirements.Īccording to merchant banking sources, the IPO is expected to fetch Rs 2,600-3,000 crore. If we talk about today’s listings then Aptus has strong financials with the comfort of valuations therefore long-term investors who have little aggressive view can add this stock into their portfolio while there are some concerns about the quality of Chemplast.
I think such kind of period is healthy for the market because it has taken out froth from the primary market and the market has become light and rational for the news issues. Santosh Meena, Head of Research, Swastika Investmart said, “It was another day of weak listing as Aptus value housing and Chemplast Sanmar debuted the secondary market on a weak note because sentiments have become fragile in August month. We believe that the company has got strong fundamentals and should do well once the volatility in the market subsides.”
Jyoti Roy, DVP-equity strategist, Angel Broking said, “We would recommend investors to hold on the positions. The net proceeds from the fresh issue will be utilised towards augmenting the company’s tier-1 capital requirements. The Rs 2,780-crore IPO received bids for 94,82,42,442 shares against 5,51,28,500 shares on offer, according to exchanges data. “We believe the company’s presence in large underpenetrated markets have strong growth potential and favourable valuation provides a great opportunity to long term investors to buy and hold the stock for long-term investment,” Joshi added.Įarlier, the initial public offer (IPO) of Aptus Value Housing Finance India received 17.20 times subscription. He further added that the discount at listing provides an opportunity to unallotted applicants to buy shares at discount and hold the same from a long-term perspective.