The flow of initial public offers (IPOs) on Dalal Street continue to remain strong as three more companies have filed their draft red herring prospectus (DRHP) with capital market regulator to list their shares on stock exchanges. The list includes Manjushree Technopack, Unimech Aerospace and Manufacturing, and Innovision, looking to collectively raise around ₹4,000 crore via IPO route. Last week, three companies - Ecom Express, Smartwork Coworking, Metalman Auto – have tapped the primary market for public listing of shares on domestic bourses.
Here’s all you need to know about these IPOs.
Manjushree Technopack to raise ₹3,000 cr via IPO
Advent International backed Manjushree Technopack has filed its offer document with the regulator to raise ₹3,000 crore through IPO route. The issue of Bengaluru-based plastic packaging company is a mix of fresh issue of up to ₹750 crore and an offer of sale up to ₹2,250 crore by AI Lenarco Midco Limited.
The company, operating in the consumer rigid plastics industry, plans to use ₹500 crore proposed to be raised from fresh equities to repay debts. The remaining capital will be used to meet general corporate purposes and fund its inorganic growth plans through acquisitions and other strategic investments.
Manjushree has a diversified customer base of 964 customers as of the financial year ended 2024, including Varun Beverages, Dabur India, Marico, Honasa Consumer, Hershey India, Kansai Nerolac Paints, Pernod Ricard, and Parag Milk Foods.
Unimech Aerospace and Manufacturing looks to raise ₹500 cr
Another Bangalore-based company Unimech Aerospace and Manufacturing is looking to raise ₹500 crore through public listing of shares on domestic bourses. The IPO, with a face value of ₹5 per equity share, consists of a fresh issue of equity shares and an OFS of shares worth ₹250 crore each.
Under the OFS, promoters Ramakrishna Kamojhala, Mani P, and Rajanikanth Balaraman will offload shares worth ₹45 crore each, while other promoters Preetham S V, and Rasmi Anil Kumar will be selling shares worth ₹30 crore and ₹85 crore, respectively.
The global high precision engineering solutions company, specialised in complex manufacturing solutions for the aerospace, defence, energy, and semiconductor industries, will spend ₹32.82 crore out of the net fresh issue proceeds for expansion through purchase of machineries and equipment. It will use ₹25.3 crore for working capital requirements, and ₹128.86 crore for investment in material subsidiary. The remaining capital will be utilised for general corporate purposes.
Innovision Ltd eyes ₹315 cr via fresh equities
Haryana-based Innovision, which provides manpower services, toll plaza management and skill development training, has filed preliminary papers with the SEBI to raise funds via IPO. The issue is a mix of fresh issuance of ₹315 crore and an offer for sale of up to 1.181 million equity shares by promoters.
As per the draft papers filed on Monday, the net proceeds from the fresh equities will be used for paying debt, funding working capital requirements of the company, and meeting general corporate purposes.
