Bazaar Style, Premier Energies, and ECO Mobility: New Entrants This Week To the Market India's booming IPO market sees three new entries this week, with varied business portfolios hitting the floors of NSE and BSE.
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India's booming IPO market sees three new entries this week, with varied business portfolios hitting the floors of NSE and BSE.
Bazaar Style Retail
The West Bengal-based fashion retailer is hitting the mainboard IPO on August 30. Bazaar offers clothing for men, women, kids, and infants along with general merchandise such as non-apparel and home-furnishing products.
Bazaar Style which is backed by Rekha Jhunjhunwala is reported to be a book-built issue comprising of a fresh issue of INR 148 crore including an offer for sale of up to 1.77 crore shares, with the price band yet to be announced.
The full allotment of this IPO is subject to be finalized on the 4th of September 2024, with a listing both on NSE and BSE and a tentative listing date fixed for the 6th of September.
According to the company, Rekha Jhunjhunwala is poised to sell 27.23 lakh shares in the OFS part of the IPO with investor Intensive Softshare Private Ltd offloading 22.40 lakh shares.
Other shareholders participating in the OFS include Chandurkar Investments, Subroto Trading & Finance Company Ltd, Rajnish Gupta, Madhu Surana, Sabita Agarwal, Rekha Kedia, Shakuntala Devi, and D K Surana HUF.
Baazar Style had also secured an INR 37 crore pre-IPO fund round from Volrado Ventures Partners Fund resulting in the company's IPO size reduction from INR 185 crore to INR 148 crore.
Axis Capital Limited, Intensive Fiscal Services Private Limited, and Jm Financial Limited are the book-running lead managers (BRLM) of the IPO, while Link Intime India Private Ltd is the official registrar for the issue.
Premier energies
The biggest reported IPO this week is Premier Energies IPO, a book-built issue valued at INR 2,830.40 crore. The issue is comprised of a fresh issue of 2.87 crore shares worth INR 1291.40 crore and an offer for sale (OFS) of 2.42 shares totaling INR 1539 crore.
The subscription is set to open on August 27, and close on August 29, 2024, while the final allotment for the IPO is to be finalized on August 30. Premier Energies IPO is set to be listed on both NSE and BSE.
The price band of the Premier Energies IPO is set at INR 427-450 per share with the minimum lot size for an application being 33 shares. Retail investors will have to shell out a minimum investment of INR 14850.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, and ICICI Securities Limited are the book-running lead managers of the Premier Energies IPO, while Kfin Technologies Limited is the registrar for the issue.
Premier Energies Limited was incorporated in 1995 and manufactures integrated solar cells and panels with a product portfolio expanding to Monificial modules, Bifacial modules, EPC solutions, and O&M Solutions.
The company manufactures products out of its five manufacturing units, all of which are situated in Hyderabad, Telangana, India.
The client book of the company includes names like NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited, Green Infra Wind Energy Limited (a subsidiary of Sembcorp Green Infra Limited), Madhav Infra Projects Limited, SolarSquare Energy Private Limited and Axitec Energy India Private Limited.
ECO Mobility
Chauffeur-driven car rental service provider ECO Mobility has announced its book-built issue of INR 601.20 crore with the entire issue being an offer for sale (OFS) of 1.8 crore.
The IPO is set to open for subscription on August 28 and close on August 30 with the allotment of the IPO expected to be finalized on September 2. The issue will be listed on NSE and BSE with a tentative listing date of September 4.
According to ECO Mobility, the IPO price band is set at INR 318-334 per share and the minimum lot size for an application is 44 Shares. The minimum amount of investment required by retail investors is INR 14,696.
Equirus Capital Private Limited and Iifl Securities Ltd are the book-running lead managers (BRLM) of the ECO Mobility IPO. At the same time, Link Intime India Private Ltd is the registrar for the issue.
