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What you need to know about IPOs this week: Sandhar Technologies, ICICI Securities

With HAL, Bandhan Bank, ICICI Securities and Sandhar Technologies entering the primary markets, IPOs lined up this week are expected to raise over Rs 13,000 crore. Here’s what you need to know:

business Updated: Mar 19, 2018 17:40 IST
Alisha Sachdev
Alisha Sachdev
Hindustan Times
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai, India.
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai, India.(Dhiraj Singh/Bloomberg)

Three companies will enter the primary capital market this week, following Bandhan Bank’s Rs 4,470 crore IPO which concluded on Monday.

Bandhan Bank’s IPO was oversubscribed by 14.57 times on the last day, while Hindustan Aeronautics Ltd’s IPO was subscribed 24% on day one, according to NSE data. Here is more about the public issues of ICICI Securities and Sandhar Technolgies lined up this week, which, together with Bandhan Bank and HAL are expected to raise more than Rs 13,000 crore.

Sandhar Technologies

Auto components manufacturer Sandhar Technologies is looking to raise up to Rs 300 crore from a fresh issue of 64 lakh equity shares. At the upper end of the price band, the issue is expected to raise Rs 513 crore, according to PTI. The company manufactures auto parts like automotive mirrors, handles, plastic Injection moulding, and wheel rims, and has already raised Rs. 153.74 crore from 15 anchor investors ahead of its IPO, according to a notification to the stock exchanges. The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes, according to PTI. The shares will be listed on the BSE and NSE.

Issue start date: March 19, 2018

Issue end date: March 21, 2018

Issue size: 1.08 crore equity shares, which is a mix of fresh equity shares and an offer for sale (OFS). The fresh issue aggregates to Rs 300 crore, and the offer for sale consists of 64 lakh equity shares, including 46 lakh shares for anchor investors.

Minimum bid quantity: Minimum order quantity is 45 shares, and multiples of 45 shares thereafter.

Price band: Rs 327.00- Rs 332.00

ICICI Securities Limited

The public offer for the brokerage arm of private-lender ICICI Bank, ICICI Securities, opens on March 22, to raise an estimated Rs 4,000 crore at the upper end of the price band. The IPO will follow the listing of ICICI Bank’s life and non-life insurance arms in the past two years, and will help the bank shore up its capital base at a time when lenders have seen provisions for soured loans rising, said a Reuters report.

Issue start date: March 22, 2018

Issue end date: March 26, 2018

Issue size: 7.72 crore equity shares

Minimum bid quantity: 28 equity shares, and in multiples of 28 shares thereafter.

Price band: Rs 519 - Rs 520

Source: BSE, NSE