IPO markets set for a busy week ahead; 3 IPOs to raise over ₹1,857 cr

Here is the list of the IPO to launch next week:

Sula Vineyards:

The IPO of India’s largest wine producer and seller Sula Vineyards is among the most awaited public offer. The issue will be launched on December 12 and will be available till December 14. The IPO is entirely offer for sale!

Ahead of the IPO, on December 9, Sula raised around ₹288.10 crore from anchor investors.

Under the IPO, the offer for sale will be up to 26,900,530 equity shares at a price band of ₹340 per share and ₹357 per share. At the upper price band, Sula’s IPO is valued around ₹960.35 crore. However, the company will not utilise the proceeds from the IPO, since selling shareholders who will participate in the issue will receive it.

Among selling shareholders are — promoter Rajeev Samant, investors such as Cofintra S.A, Haystack Investments, Saama Capital III, SWIP Holdings, Verlinvest S.A, and Verlinvest France S.A, and others.

From the total size of the IPO, 50% of the IPO size will be allotted to qualified institutional buyers (QIB) for bidding, while 15% will be reserved for non-institutional investors (NIIs) and the remaining 35% will be kept for retail individual investors.

Sula Vineyards have been a consistent market leader in the Indian wine industry. Sula has made remarkable progress in over a decade. In the 100% grapes wine category, the company’s market share on the basis of revenue, increased from 33% in FY09 to 52% in FY20 and further to 52.6 in FY21.

Aban Holdings:

Just like Sula, Aban Group-backed financial services provider, Aban Holdings will also launch its IPO on December 12 to raise about ₹345.60 crore. Aban Holdings IPO will be available for subscriptions till December 15. The IPO is a mixture of fresh issue of up to 38 lakh equity shares and an offer for sale of around 90 lakh equity shares. Promoter Abhishek Bansal is the selling shareholder in the OFS.

The equity shares offered in the IPO have a price band of ₹256 per share and ₹270 per share. About 10% of the total size is reserved for QIBs, while 30% will be kept for non-institutional investors, and hence, the IPO’s largest portion up to 60% of the total size is reserved for retail individual investors.

From the proceeds arising out of the fresh issue, Aban Holdings plans to utilise ₹80 crore for further investment in its NBFC subsidiary, Aban Finance for financing the augmentation of its capital base to meet its future capital requirements. Also, proceeds will be used for general corporate purposes. Notably, Aban Finance contributes to about 2-5% of the company’s revenue over the last 3 years.

Aban Holdings operate a diversified global financial services business, headquartered in India, providing NBFC services, global institutional trading in equities, commodities, and foreign exchange, private client stock broking, depositary services, asset management services, investment advisory services, and wealth management services to corporates, institutional and high-net-worth clients.

Landmark Cars:

This automobile services provider is launching its ₹552 crore IPO on December 13. Bidding will be allowed till December 15. While bidding will open for anchor investors on December 12 ahead of the IPO. The price band for the IPO is fixed at ₹481 per share and ₹506 per share.

The IPO includes fresh issue worth ₹150 crore and an offer for sale (OFS) up to ₹402 crore. Selling shareholders in the OFS are — TPG Growth II SF, Aastha Limited, Sanjay Karsandas Thakker HUF, and Garima Misra.

The company plans to utilise the proceeds from the issue for pre-payment of borrowings availed by its subsidiaries and general corporate purposes.

50% of the IPO size will be reserved for QIBs, while 35% will be kept for retail investors and 15% will be allotted to NIIs.

Landmark Cars are among the leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault. The company has a commercial vehicle dealership with Ashok Leyland in India.

Its presence across the automotive retail value chain, including sales of new vehicles, after-sales service, and repairs (including sales of spare parts, lubricants, and accessories), sales of pre-owned passenger vehicles, and facilitation of the sales of third-party financial and insurance products.

As of June 30, 2022, the company has expanded its network to include 112 outlets in 8 Indian states and union territories, comprised of 59 sales showrooms and outlets and 53 after-sales services and spare outlets.

Additionally, Uniparts India will be making its market debut on December 12 on exchanges BSE and NSE. The IPO was launched from November 30 to December 2nd and was oversubscribed by 25.32 times. The company looked to raise around ₹836 crore from the public offer at a price band of ₹548 per equity share and ₹577 per equity share.