Eighteen companies raised about Rs 20,000 crore via initial public offerings so far this year, lower than 41 IPOs came in 2018 garnering Rs 76,200 crore. At least one more IPO is expected to hit the markets this month. Prince Pipes and Fittings’s Rs 500 crore IPO will be open for subscription from December 18 to December 20. Equitas Small Finance Bank, EaseMyTrip, SBI Cards and Mazagon Dock Shipbuilders are other IPOs that are expected to come before March 2020.

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Here are the details of the upcoming IPOs:

Prince Pipes and Fittings IPO

Prince Pipes and Fittings IPO, which will be open for subscription from December 18 to December 20, comprises a fresh issue worth Rs 250 crore and an equal amount through offer-for-sale.

The pipe manufacturer has fixed a price band of Rs 177-178 per share for the share sale, with an aim to raise Rs 500 crore at the higher end of the price range.

Also Read: Four things to keep in mind while investing in IPO in 2020

JM Financial and Edelweiss Financial Services are the book running lead managers to the offer and the equity shares will be listed on the NSE and BSE.

Prince Pipes, a leading polymer pipes and fittings manufacturers in India, has six manufacturing facilities -- two in Dadra and Nagar Haveli and one each in Uttarakhand, Maharashtra, Tamil Nadu and Rajasthan.

Equitas Small Finance Bank IPO

Equitas Small Finance Bank IPO comprises a fresh issue aggregating up to Rs 550 crore and an offer for sale of up to 8,00,00,000 equity shares by Equitas Holdings, the promoter.

The offer includes a reservation of up to Rs 100 crore for subscription by eligible EHL shareholders and a reservation aggregating up to Rs 5 crore for subscription by eligible employees.

The bank proposes to utilize the net proceeds from the offer towards augmenting Tier I capital base and to meet future capital requirements.

The bank has not disclosed pricing and dates of the IPO. The equity shares will be listed on BSE and NSE.

EaseMyTrip IPO

The online travel company’s Rs 510 crore initial public offering will see founders Nishant Pitti and Rikant Pitti each sell shares to the tune of Rs 255 crore through offer-for-sale mechanism.

EaseMyTrip.com is operated by Easy Trip Planners Private Ltd. The object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges, the company said.

IPO price and dates were not disclosed yet. The company's issue is being managed by Axis Capital and JM Financial.

SBI Cards IPO

SBI Cards and Payments Services IPO consists of a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 equity shares by State Bank of India and CA Rover Holdings, an affiliate of US-based Carlyle Asia Partners IV.

Of the total offer for sale, SBI will sell up to 3,72,93,371 equity shares and CA Rover up to 9,32,33,427 equity shares through IPO.

Also Read: SBI Cards may be the largest IPO of FY20: All you need to know

State Bank of India currently holds a 74 percent stake in the company while private equity giant Carlyle holds the remaining 26 percent. Carlyle had bought this stake in 2017.

The IPO price has not yet been disclosed but sources told MoneyControl that SBI Cards IPO will raise Rs 8,000-9,500 crore.

SBI Cards IPO could be the biggest IPO of the financial year 2019-20 if the SBI Cards get a go-ahead from SEBI, sources said, adding the management plans to hit the markets before March 2020.

Mazagon Dock Shipbuilders IPO

State-owned Mazagon Dock Shipbuilders has received markets regulator Sebi's go-ahead to float an initial public offering (IPO). The public sector undertaking had filed draft papers with Sebi in August.

Going by the draft papers, Mazagon Dock, a leading shipyard of India serving the nation's strategic requirements, will see sale of over 2.8 crore equity shares by the government.

The issue is being managed by Yes Securities, IDFC Securities, Axis Capital, JM Financial and Edelweiss Financial Services.

The IPO is part of the government's target to garner Rs 1.05 lakh crore through stake sale in state-owned companies in 2019-20.

Earlier in August 2018, Mazagon had got the markets regulator's clearance to float an IPO, but did not go ahead with the plan.

The article was first published on December 17 and was amended on December 18 to add Mazagon Dock Shipbuilders IPO details

First Published:Dec 17, 2019 1:47 PM IST