IPOs to Watch Out for: Sterling and Wilson Solar, Mazagon Dock, ASK Investment
Sterling and Wilson Solar Ltd: Sterling and Wilson Solar’s Rs 4,500 crore IPO is likely to open at the end of July.
Representative image (Reuters)
The year 2019 has been quite uneventful so far for primary stock market investors in India. Though companies like Neogen, Polycab and more recently IndiaMart InterMESH made stellar debuts on stock exchanges, but the number of such new listings in the first six months of 2019 was just 8. This looks quite tepid compared with 24 issues seen during the same period in the previous year. However, the IPO market may revive soon as nearly half a dozen companies are ready to launch their offers in the next one month or so. Here’s a list of companies that may launch their IPOs soon:
Sterling and Wilson Solar Ltd: Sterling and Wilson Solar’s Rs 4,500 crore IPO is likely to open at the end of July. The IPO will be an offer-for-sale by the company’s chairman Khurshed Yazdi Daruvala, and Shapoorji Pallonji and Company, the promoter selling shareholders. The company is an end-to-end solar engineering, procurement and construction solutions provider. It also provides complete range of customized solutions for solar power projects.
ASK Investment Managers: The IPO by Mumbai-based ASK Investment Managers, an asset and wealth management company, is also likely to open in the last week of July. The company is planning to raise about Rs 1,500 crore. The IPO comprises a fresh issue of stock worth up to Rs 600 crore and an offer for sale of up to 13.6 million shares by AI Global and 4.4 million shares by promoter Sameer Koticha.
Mazagon Dock Shipbuilders Ltd: State-owned leading shipyard company Mazagon Dock Shipbuilders is likely to raise about Rs 650 crore by the end of July. Mazagon will see the sale of over 22.4 million shares, amounting to a 10% stake dilution by the government.
Affle (India) Ltd: Microsoft-backed consumer intelligence company Affle is planning to raise around Rs 500 crore through the IPO route. The 13-year-old adtech company, which is headquartered in India but has operations in South East Asia, MENA, Europe, US, Japan, South Korea and Australia, received Sebi approval for its IPO in October 2018. Affle’s parent company - Affle Holdings Singapore - will divest a part of its stake via the IPO.
AGS Transact Technologies: AGS Transact is also planning a Rs 1,000 crore IPO. The offer will consist of fresh issuance of equity shares aggregating up to Rs 400 crore and an offer for sale of shares aggregating up to Rs 600 crore by promoter Ravi B. Goyal and other shareholders.
Spandana Sphoorty Financial Ltd: Spandana, set up in 2003, is engaged in the business of providing small-ticket unsecured loans to women from low-income households in rural and urban areas. The IPO of Spandana Sphoorty consists of fresh issue of shares worth up to Rs 400 crore, and an offer for sale of up to 13,146,595 equity stocks by existing shareholders, including Kedaara Capital Alternative Investment, Helion Venture Partners and Valiant Mauritius Partners, as per the draft papers.
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