New Delhi: Two companies star health and affiliated insurance company and Tega Industries ready to issue its initial public offering (IPO)IPO) to raise Rs 7,868 crore cumulatively next week.
Star Health’s three-day initial share sale will open on November 30 and end on December 2, while that of Tega Industries will be open for public subscription during December 1-3.
This comes after 10 firms successfully concluded their initial public offering in November.
So far in 2021, 51 companies have launched their IPOs to raise over Rs 1 lakh crore, according to an analysis of data from exchanges.
Besides these, Infrastructure Investment Trust (InvIT) sponsored by Power Grid Corporation of India, PowerGrid InvIT raised Rs 7,735 crore through its IPO and Brookfield India Real Estate Trust raised Rs 3,800 crore through its initial share-sale.
The money raised so far this year is higher than the Rs 26,611 crore raised by 15 companies through initial share sales throughout 2020.
Such impressive funding through IPOs was last seen in 2017 when firms raised Rs 67,147 crore through 36 IPOs.
The IPO of Star Health comprises fresh issue of equity shares worth Rs 2,000 crore and offer for sale of 58,324,225 equity shares by promoters and existing shareholders.
Promoters and promoter groups offering shares through Offer for Sale – Safecrop Investments India LLP, Konark Trust, MMPL Trust – and existing investors – Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame du Lac, Mio Star Are included. , ROC Capital Pvt Ltd, Venkatasamy Jagannathan, Sai Satish and Bergis Meenu Desai.
Star Health has fixed a price band of Rs 870-900 per share and the initial share sale is expected to fetch Rs 7,249.18 crore at the upper end of the price band.
The proceeds from the new issue will be used to enhance the capital base of the company.
Star Health, the leading private health insurer in the country, is owned by a consortium of investors like Westbridge Capital And Rakesh Jhunjhunwala,
The IPO of Tega Industries, a manufacturer of consumables for the mining industry, is purely an offer for sale of 1,36,69,478 equity shares by the promoters and an existing shareholder.
As a part of the offer for sale, promoter Madan Mohan Mohanka will sell 33.14 lakh equity shares and Manish Mohanka Will sell 6.63 lakh equity shares.
In addition, Wagner, an affiliate of US-based private equity firm TA Associates, will sell 96.92 lakh equity shares through an offer for sale.
The price band has been set at Rs 443-453 per share and at the upper end of the price band, the initial public offering is expected to fetch Rs 619.22 crore.
Kolkata-based Tega Industries, through its wide product portfolio, provides comprehensive solutions to global clients in the mineral beneficiation, mining and bulk solids handling industry.
Equity shares of both the companies will be listed on BSE and NSE.
Star Health’s three-day initial share sale will open on November 30 and end on December 2, while that of Tega Industries will be open for public subscription during December 1-3.
This comes after 10 firms successfully concluded their initial public offering in November.
So far in 2021, 51 companies have launched their IPOs to raise over Rs 1 lakh crore, according to an analysis of data from exchanges.
Besides these, Infrastructure Investment Trust (InvIT) sponsored by Power Grid Corporation of India, PowerGrid InvIT raised Rs 7,735 crore through its IPO and Brookfield India Real Estate Trust raised Rs 3,800 crore through its initial share-sale.
The money raised so far this year is higher than the Rs 26,611 crore raised by 15 companies through initial share sales throughout 2020.
Such impressive funding through IPOs was last seen in 2017 when firms raised Rs 67,147 crore through 36 IPOs.
The IPO of Star Health comprises fresh issue of equity shares worth Rs 2,000 crore and offer for sale of 58,324,225 equity shares by promoters and existing shareholders.
Promoters and promoter groups offering shares through Offer for Sale – Safecrop Investments India LLP, Konark Trust, MMPL Trust – and existing investors – Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame du Lac, Mio Star Are included. , ROC Capital Pvt Ltd, Venkatasamy Jagannathan, Sai Satish and Bergis Meenu Desai.
Star Health has fixed a price band of Rs 870-900 per share and the initial share sale is expected to fetch Rs 7,249.18 crore at the upper end of the price band.
The proceeds from the new issue will be used to enhance the capital base of the company.
Star Health, the leading private health insurer in the country, is owned by a consortium of investors like Westbridge Capital And Rakesh Jhunjhunwala,
The IPO of Tega Industries, a manufacturer of consumables for the mining industry, is purely an offer for sale of 1,36,69,478 equity shares by the promoters and an existing shareholder.
As a part of the offer for sale, promoter Madan Mohan Mohanka will sell 33.14 lakh equity shares and Manish Mohanka Will sell 6.63 lakh equity shares.
In addition, Wagner, an affiliate of US-based private equity firm TA Associates, will sell 96.92 lakh equity shares through an offer for sale.
The price band has been set at Rs 443-453 per share and at the upper end of the price band, the initial public offering is expected to fetch Rs 619.22 crore.
Kolkata-based Tega Industries, through its wide product portfolio, provides comprehensive solutions to global clients in the mineral beneficiation, mining and bulk solids handling industry.
Equity shares of both the companies will be listed on BSE and NSE.
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