HomeMarket NewsStocks NewsThree IPOs to hit the market today; check details here

Three IPOs to hit the market today; check details here

Three companies -- Shyam Metalics, Sona Comstar and Navoday Enterprises -- are all set to launch their initial public offerings today.

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By Ankit Gohel  June 14, 2021, 6:23:05 AM IST (Updated)

Three IPOs to hit the market today; check details here
After a dull period owing to the second wave of COVID-19, IPOs are back, with three companies -- Shyam Metalics, Sona Comstar and Navoday Enterprises -- all set to launch their initial public offerings today.


The domestic equity market has shown decent resilience amid the second wave with limited impact. The market continued its uptrend, with the benchmark Nifty hitting an all-time high level in June.

With the economic activities slowly picking up and investors cheering, experts believe now is a good time for companies to get listed on the exchanges.

Also Read: Action in IPO market set to resume, feel market experts

“We expect this will be a very good opportunity for the retail investor to make money due to listing gains in a very short time,” said Yash Gupta, Equity Research Associate, Angel Broking.

Here are the details of IPOs opening today:

Shyam Metalics & Energy

Steel manufacturer Shyam Metalics & Energy will launch its IPO at a price band of Rs 303-306 per share. The Rs 909-crore public issue comprises a fresh issue of up to Rs 657 crore, and an offer for sale (OFS) up to Rs 252 crore by promoters.

The three-day offer will close on June 16. It opened for a day on June 11 for anchor investors. Investors can put minimum bids for 45 equity shares and in multiples of 45 equity shares thereafter.

The company proposes to utilise the proceeds from the fresh issue for repayment of debt and general corporate purposes.

Sona Comstar

The IPO of auto component manufacturer Sona Comstar will open for subscription today and close on June 16. The price band for the issue has been fixed at Rs 285-291 per share.

The Rs 5,550-crore offer comprises a fresh issue of Rs 300 crore and an offer for sale of up to Rs 5,250 crore by Singapore VII Topco III Pte Ltd.

Blackstone will sell half of its holding and will own a little over 33 percent in Sona Comstar.

The company proposes to utilise the fresh issue proceeds for repaying debts and general corporate purposes. The issue market lot size is 51 shares and a retail-individual investor can apply for up to 13 lots.

Navoday Enterprises

Navoday Enterprises, a marketing and event management company, will launch its IPO today with a price band fixed at Rs 20 apiece.

The SME company aims to raise around Rs 46.08 crore from the issue which will close on June 17. The shares will be listed on BSE SME platform.

Going ahead, the second half of the year 2021 is expected to see a number of listings as many companies have filed their draft prospectus for IPOs with the capital market regulator Securities and Exchange Board of India (Sebi).

Many companies have also received a go-ahead from SEBI. Investors would be keenly awaiting the IPOs of companies such as LIC,  Zomato, Paytm, GoAir, among others.
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