Several companies are gearing up to enter the primary capital markets this week, collectively aiming to raise close to Rs 11,000 crore. This move marks a significant moment for these companies, with offerings spanning various sectors, from finance to jewelry.
Bajaj Housing Finance: A Landmark IPO
Leading the charge is Bajaj Housing Finance, part of the Bajaj Group, with an IPO of Rs 7,000 crore. This offering is notable as it marks the first public issue from the Pune-based group since 2008. The IPO includes a fresh issue of Rs 4,000 crore and an offer for sale (OFS) of Rs 3,000 crore by Bajaj Finance. This public issue is a key development for the Bajaj Group, a significant player in the Indian financial services sector.
Northern Arc and PN Gadgil Jewelers Follow Suit
Chennai-based Northern Arc Capital is another significant player entering the market, seeking to raise Rs 1,500 crore. Known for arranging debt for small businesses and micro-lenders, Northern Arc’s offering includes both a fresh issue and an OFS.
PN Gadgil Jewelers, a well-established jewelry retailer with nearly two centuries of history, is also hitting the market. The Pune-headquartered company aims to raise Rs 1,100 crore, which will be used for expanding operations and repaying working capital. The company plans to open 12 new stores across Maharashtra, further solidifying its presence in the region.
Diverse Sector Participation
The market activity next week also includes Arkade Developers, Tolins Tyres, Kross, and Gala Precision Engineering, reflecting a wide range of industries. Arkade Developers, focused on redevelopment projects in Mumbai, is raising Rs 430 crore. Tolins Tyres, based in Kochi, is seeking Rs 230 crore to fund its operations in the tyre and tread manufacturing sector.
Auto component manufacturer Kross, headquartered in Jamshedpur, aims to raise Rs 500 crore, while Gala Precision Engineering plans to garner Rs 180 crore to fund its precision engineering operations. These offerings highlight the diverse nature of companies tapping the market, from real estate and manufacturing to auto components.
Conclusion: A Robust Week for Primary Capital Markets
Next week’s market activity underscores the growing confidence among companies across various sectors in tapping the primary capital markets. The combined Rs 11,000 crore these companies aim to raise reflects their ambitions and the opportunities available in the Indian market. Investors will be keenly watching these developments as these companies bring their offerings to the market.
