Business strategy

Delhivery, Venus, Prudent To Issue Rs 6,000-Crore Public Offers; Know Details

The week starting from Monday (May 9) is going to see three initial public offerings (IPOs) hitting the market. The public offers, worth Rs 6,000 crore in total, will belong to Venus Pipes & Tubes, Prudent Corporate Advisory Services, and Delhivery. Prudent is expected to garner Rs 538.61 crore through the offer, while Venus Pipes & Tubes’ IPO size is Rs 165.42 crore. Among the three, the biggest IPO size will be of Delhivery at Rs 5,235 crore.

Last week saw India’s biggest-ever LIC IPO, which has received an overwhelming response from investors so far. The IPO was subscribed 1.66 times on the fourth day of bidding on Saturday. Investors across categories bid more than 26.83 crore shares against the offer size of 16.2 crore shares.

Delhivery IPO: Date, Size, Price Band

The logistics services company’s Rs 5,235-crore IPO will remain open between May 11 and May 13. It has fixed the price band of its public offer at Rs 462-Rs 487 per equity share. A bidder can bid for a minimum of one lot and maximum 13 lots. A lot will comprise its 30 shares. The company earlier planned to raise Rs 7,460 crore from the IPO but the size has now been reduced to Rs 5,235 crore. It will issue fresh equity shares worth Rs 4,000 crore and existing shareholders and promoters will offload shares worth Rs 1,235 crore.

The tentative date for the announcement of share allocation is May 19 and its shares are likely to be listed on both National Stock Exchange (NSE) and BSE. The likely listing date is May 24. Link Intime India Private Ltd has been appointed its official registrar.

Venus Pipes & Tubes IPO: Date, Size, Price Band

The Rs 165.42-crore IPO will open for subscription on May 11 and close on May 13. Its price band has been fixed at Rs 310-326 per equity share. A bidder can bid for a minimum one lot and maximum 13 lots. A lot will comprise 46 shares of the company. The tentative date for the announcement of share allocation is May 19. The likely date for share listing is May 24. Its shares are proposed to be listed on both NSE and BSE. KFin Technologies Limited has been appointed as its official registrar.

Prudent Corporate Advisory Services IPO: Date, Size, Price Band

The Rs 538.61-crore IPO will be opened for subscription on May 10 and remain open till May 12. Its price band has been fixed at Rs 595-630 per share. A bidder can bid for a minimum of one lot and maximum 13 lots. A lot will have Prudent Corporate’s 23 shares. The announcement of share allocation is likely to be made on May 18. Its shares are proposed to be listed on both NSE and BSE. The likely date for share listing is May 23. Link Intime India Private Ltd has been appointed as the official registrar for the offer.

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