IPO Next Week: Paradeep Phosphates, Ethos, eMudhra To Issue Rs 2,387-Crore Public Offers


The week starting from Monday (May 16) is going to see three initial public offerings (IPOs) hitting the market. The public offers, worth Rs 2,387 crore, will belong to fertiliser company Paradeep Phosphates, luxury watch retail firm Ethos, and Indiaโ€™s largest licensed certifying authority eMudhra. Paradeep Phosphates is expected to raise Rs 1,502 crore through its IPO, while Ethosโ€™ offer size is Rs 472 crore. eMudhra plans to garner Rs 412.79 crore through the offer.

Last week, Indiaโ€™s biggest-ever LIC IPO got closed, which received an overwhelming response from investors. The IPO was subscribed 2.95 times on the last day of bidding on Monday (May 9). The issue received 13.8 crore bids from retail individual investors, against 6.9 crore shares set aside for them.

Paradeep Phosphates IPO: Date, Size, Price Band

The fertiliser companyโ€™s Rs 1,502-crore IPO will remain open for public subscription between May 17 and May 19. It has fixed the price band of its public offer at Rs 39-42 per share. A bidder can bid for a minimum of one lot and maximum 13 lots. A lot will comprise its 350 shares. The issue comprises fresh issuance of equity shares worth Rs 1,004 crore and an offer for sale (OFS) component of 11.85 crore equity shares.

The tentative date for the announcement of share allocation is May 24 and the shares are likely to be listed on stock exchanges on May 27. Paradeep Phosphates has already garnered Rs 450 crore from anchor investors, including BNP Paribas NSE 2.10 % Arbitrage, Goldman Sachs, Copthall Mauritius Investment, Societe Generale and Kuber India Fund.

Ethos IPO: Date, Size, Price Band

The luxury watch retail playerโ€™s Rs 472-crore IPO will be opened for public subscription on May 18 and closes on May 20. It has fixed the price band of its public offer at Rs 836-876 per share. A bidder can bid for a minimum of one lot and maximum 13 lots. A lot will comprise its 17 shares. The tentative date for the announcement of share allocation is May 25 and the shares are likely to be listed on stock exchanges on May 30.

The IPO comprises a fresh issue of equity shares aggregating to Rs 375 crore and an offer-for-sale (OFS) of up to 1,108,037 equity shares. Ethos has 50 physical retail stores in 17 cities in India in a multi-store format, and offers an omni-channel experience to its customers through its website and social media platforms.

eMudhra IPO: Date, Size, Price Band

The company plans to garner Rs 412.79 crore through the IPO, which will remain open for public subscription between May 20 and May 24. It has fixed the price band of its public offer at Rs 243-256 per share. A bidder can bid for a minimum of one lot and maximum 13 lots. A lot will comprise its 58 shares. The tentative date for the announcement of share allocation is May 27 and the shares are likely to be listed on stock exchanges on June 1.

eMudhra will use the proceeds from the fresh issue to repay its debt, support working capital requirements, purchase equipment and pay for other related costs for data centres proposed to be set up in India and overseas locations. The amount will also be used to develop products, investment in eMudhra INC and for general corporate purposes.

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