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Four Mainboard IPOs Open September 23, Raising Rs 2,712 Crore
Four companies in India are asking investors to buy their shares for the first time.
Their IPOs will open on September 23 and close on September 25.
Elevate Campuses is the largest issue, seeking Rs 2,100 crore.
ArMee Infotech wants Rs 300 crore to expand its business and pursue government projects.
Swastika Infra is seeking about Rs 161 crore for working capital and other needs.
Adroit Industries plans to raise about Rs 151 crore for investments and expenses.
The companies are expected to list their shares on September 30.
The article gives two different totals for the combined fundraising, reporting both nearly Rs 2,712 crore and nearly Rs 2,172 crore.
Elevate Campuses, ArMee Infotech, Swastika Infra and Adroit Industries will open their IPOs on September 23.
The four IPOs will accept bids through September 25, with listings expected on the NSE and BSE on September 30.
Elevate Campuses is seeking Rs 2,100 crore, mainly for acquisitions and debt repayment.
ArMee Infotech plans to raise Rs 300 crore for government and PSU projects, working capital and debt repayment.
Swastika Infra and Adroit Industries are seeking Rs 160.88 crore and Rs 150.71 crore, respectively, including fresh issues and offer-for-sale components.
- Who
- Elevate Campuses, ArMee Infotech, Swastika Infra and Adroit Industries.
- What
- Four mainboard initial public offerings are opening for public subscription.
- Where
- The IPOs are in India's primary market and are expected to list on the NSE and BSE.
- When
- Bidding runs from September 23 through September 25; listings are expected on September 30.
- Why
- The companies plan to fund acquisitions, expansion, government projects, working capital, debt repayment, investments and other corporate expenses.
Key facts
- IPO companies
- Elevate Campuses, ArMee Infotech, Swastika Infra and Adroit Industries
- Subscription period
- September 23 to September 25
- Expected listing date
- September 30 on the NSE and BSE
- Elevate Campuses issue
- Rs 2,100 crore; price band Rs 343-Rs 362
- ArMee Infotech issue
- Rs 300 crore; price band Rs 350-Rs 375
- Swastika Infra issue
- Rs 160.88 crore; price band Rs 175-Rs 185
- Adroit Industries issue
- Rs 150.71 crore; price band Rs 126-Rs 134
- Reported combined total
- The article cites both nearly Rs 2,712 crore and nearly Rs 2,172 crore; the individual issue amounts total about Rs 2,711.59 crore.
Sources
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