Upcoming IPO next week: The primary market is set to witness fresh activity next week, with two mainboard IPOs and one SME IPO scheduled to open between November 18 and November 23. State-owned Mahanadi Coalfields, Crystal Crop Protection and Watrana Rentals will launch their public issues, with the three companies looking to raise a combined Rs 10,455.59 crore.
Among these, Mahanadi Coalfields’ IPO is expected to be the biggest, with an estimated issue size of around Rs 10,000 crore. The other two issues include Crystal Crop Protection’s Rs 455.49 crore mainboard IPO and Watrana Rentals’ Rs 120.10 crore SME IPO.
1. Mahanadi Coalfields IPO: Rs 10,000 crore issue in focus
The IPO of state-owned Mahanadi Coalfields is expected to attract significant attention from investors next week. The company is a wholly owned subsidiary of Coal India.
According to media reports, the company is planning to raise around Rs 10,000 crore through its public issue. The IPO is expected to open for subscription on November 19 and close on November 23.
The issue will be entirely an Offer for Sale (OFS), under which 66.18 crore shares will be offered for sale. This means the company will not issue any fresh shares, and the proceeds will go to the existing selling shareholder.
The company has not yet announced the price band for the issue.
Crystal Crop Protection’s mainboard IPO will open for subscription on November 18 and close on November 20. The company aims to raise Rs 455.49 crore through the public issue.
The IPO comprises a fresh issue of shares worth Rs 354.77 crore and an Offer for Sale (OFS) of Rs 100.71 crore.
The company has fixed the price band at Rs 259 to Rs 272 per share. The lot size has been set at 55 shares.
Retail investors will need to invest a minimum of Rs 14,960 to apply for one lot, calculated at the upper end of the price band.
The allotment is expected to be finalised on November 23, while the shares are likely to be credited to demat accounts on November 25. Crystal Crop Protection shares are tentatively scheduled to list on the NSE and BSE on November 26.
Watrana Rentals will launch its SME IPO on November 19. The issue will remain open for subscription until November 23.
The company plans to raise Rs 120.10 crore through the public issue. Unlike Crystal Crop Protection, the entire issue will comprise fresh shares, meaning the proceeds will go to the company.
Watrana Rentals has fixed the price band at Rs 232 to Rs 245 per share. The lot size is 600 shares.
Retail investors will have to apply for a minimum of two lots, comprising 1,200 shares. At the upper price band of Rs 245, the minimum investment required will be Rs 2,94,000.
The IPO allotment is expected to be finalised on November 25, while the shares are likely to be credited to demat accounts on November 26. Watrana Rentals shares are expected to list on the NSE SME platform on November 27.
Shahnaz writes on a wide range of topics, including business, social issues, politics, environment, lifestyle and gender. She has previously wrote long-form content covering a wide range of topics, including politics, policies, and more. Additionally, she monitored wires services, social media, and local news outlets for breaking news and relevant stories. Also, she honed her skills in short-form writing, delivering accurate and concise content in a time-bound manner, from breaking news to engaging updates and latest developments on the respective topics. She holds a PG Diploma in Media Studies: Film and Television, with a master’s degree in Journalism and Mass Communication: Research from the University of Calcutta. With over 5 years of experience in journalism, including ground reporting, desk, coordination and copywriting, she excels in both arenas – desk and field. She has covered the West Bengal Assembly Elections 2021 and Lok Sabha Elections 2019 and reported on several news stories from West Bengal. She has extensively covered the TMC beat from 2018 to 2021. Apart from work, Shahnaz likes cooking, watching movies and reading books. She also loves travelling.