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regular-article-logo Wednesday, 29 May 2024

Gopal Snacks, RK Swamy and JG Chemicals set to launch maiden public issues this week

Additionally, Bangalore-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers

PTI Mumbai Published 04.03.24, 11:53 AM
Representational image

Representational image File picture

The primary market will see a flurry of activity in March, with at least three companies, including Gopal Snacks, making their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively.

The other two companies which are set to launch their maiden public issues are — RK Swamy and JG Chemicals.

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Additionally, Bangalore-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers.

So far this year, 16 companies launched their IPOs to mobilise Rs 13,000 crore, while the Rs 224-crore initial share-sale of Mukka Proteins is slated to conclude on March 4.

This came after 58 maiden public issues were initiated in 2023 to garner Rs 52,637 crore. This included the Rs 3,200-crore IPO of Nexus Select Trust REIT.

Rajkot-based Gopal Snacks’ Rs 650-crore public issue is entirely an offer for sale (OFS). The issue, with a price band of Rs 381 to Rs 401 per share, will open for subscription during March 6-11.

The Rs 423.56-crore IPO of integrated marketing services firm RK Swamy will be open for public subscription during March 4-6. Shares will be available for bidding in the price range of Rs 270-288 apiece.

The company’s IPO comprises a fresh issue of shares aggregating up to Rs 173 crore and an OFS of up to 87 lakh equity shares by selling shareholders worth Rs 250.56 crore at the upper end of the price band.

Zinc oxide manufacturer JG Chemicals’ initial share-sale is a combination of fresh issue of equity shares worth up to Rs 165 crore and an OFS of 39 lakh equity shares aggregating to Rs 86.2 crore by promoter group.

The company has fixed a price band of Rs 210 to Rs 221 for its Rs 251.2-crore issue, which will open on March 5 and conclude on March 7.

PTI

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