What you must know about the upcoming Bansal Wire Ind, Emcure Pharma IPOs?

A busy week is ahead for IPO investors as two firms are scheduled to debut on Dalal Street. Emcure Pharmaceuticals and Bansal Wire Industries, two homegrown companies, plan to launch their public offerings to collectively raise around ₹2,700 crore via the initial public offering (IPO) route. Ghaziabad-based Bansal Wire Industries aims to raise ₹745 crore via IPO, while Pune-based Emcure Pharmaceuticals hopes to garner ₹1,952 crore through public listing of shares on domestic exchanges.

Emcure Pharma

With an IPO price range of ₹960–1,008 per share, the Pune-based pharma company hopes to raise ₹1,952.03 crore at the top end of the issue price. The three-day IPO will begin for subscriptions on July 3 and end on July 5, with the anchor book opening for one day on July 2. The tentative date for listing shares on stock markets is July 10, 2024.

The issue consists of an offer for sale (OFS) of 1.14 crore shares, totalling ₹1,152.03 crores and a fresh issuance of 0.79 crore equity shares, worth ₹800 crore.

Retail investors will have to invest ₹14,112 to purchase a minimum lot size of 14 shares for an application.

It has reserved half of the issue size for qualified institutional purchasers, 35% for retail investors and the remaining 15% for non-institutional investors. Additionally, 1,08,900 equity shares have been reserved for its staff, who will be offered at a discount to issue price.

The book running lead managers for the Emcure Pharma IPO are Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited. The issue’s registrar is Link Intime India Private Ltd.

Bansal Wire Industries

The Bansal Group’s flagship company, located in Ghaziabad, is scheduled to debut on Dalal Street on July 3  with its ₹745 crore IPO. The company has set a price band of ₹243-256 per share for its IPO, which will conclude on July 5. The anchor book will be open for one day on June 2, with the shares slated to launch on July 10.

The steel wires manufacturer’s post-listing market capitalization is ₹3,262 crore, with a completely fresh issue of ₹745 crore.

The firm aims to utilize the IPO proceeds to repay loans availed by itself and its subsidiaries, as well as to support the company’s working capital requirements and other corporate purposes.