Advertisement
Tuesday, Jun 28, 2022
Outlook.com
Outlook.com

Upcoming IPOs This Week: Tarsons Products, Go Fashion. Check Details

The current month will continue to be a busy one for the primary market, as two companies --Tarsons Products and Go Fashion (India) Ltd -- are set to float their IPOs.

Upcoming IPOs This Week: Tarsons Products, Go Fashion. Check Details
Upcoming IPOs This Week: Tarsons Products, Go Fashion. Check Details
outlookindia.com
2021-11-14T14:18:03+05:30

The current month will continue to be a busy one for the primary market, as two companies --Tarsons Products and Go Fashion (India) Ltd -- are set to float their IPOs next week to collectively raise Rs 2,038 crore.

Here are the details:

Company: Tarsons Products

Issue Open Date: 15 November

Closing Date: 17 November

Price Band: The company has fixed a price band of Rs 635-662 a share for its Rs 1,024 crore initial share-sale. Investors can bid for a minimum of 22 shares and in multiple thereof.

About the issue: The initial share sale comprises fresh issuance of equity shares worth Rs 150 crore and an offer for sale of 1.32 crore equity shares by promoters and an investor.

Offloading by promoters: As a part of the OFS, promoters Sanjive Sehgal will offload up to 3.9 lakh equity shares and Rohan Sehgal will sell up to 3.1 lakh equity shares and investor Clear Vision Investment Holdings Pte Ltd will divest up to 1.25 crore equity shares.

Objective of the issue: Proceeds from the fresh issue will be utilised towards paying debt, funding a part of the capital expenditure for the new manufacturing facility at Panchla in West Bengal, and general corporate purposes.

Company: Go Fashion (India) Ltd

Issue Open Date: 17 November

Closing Date: 22 November

Price Band: The company has fixed a price band of Rs 655-690 apiece for the issue, and at the upper end of the price band, the IPO is expected to garner Rs 1,013.6 crore.

Objective of the issue: Proceeds from the fresh issue will be used to fund the rollout of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes.

Under the OFS, PKS Family Trust and VKS Family Trust are going to offload 7.45 lakh equity shares each, Sequoia Capital India Investments will sell up to 74.98 lakh shares, India Advantage Fund S4 I will divest up to 33.11 lakh shares and Dynamic India Fund S4 US I will sell up to 5.76 lakh shares.

Currently, PKS Family and VKS Family Trust hold 28.74 per cent stake each in the company, Sequoia Capital holds 28.73 per cent stake, India Advantage Fund has a 12.69 per cent stake, and Dynamic India Fund owns a 1.1 per cent stake in the firm.

This development has come after eight firms have successfully concluded their initial public offerings (IPOs) in November so far.

These eight firms are -- One 97 Communication, owner of Paytm; FSN E-Commerce Ventures, which runs online marketplace Nykaa, Policybazaar's parent entity PB Fintech, Fino Payments Bank, Latent View Analytics, Sapphire Foods India, SJS Enterprises and Sigachi Industries.

So far in 2021, as many as 49 companies have floated their IPOs to raise Rs 1.01 lakh crore, according to an analysis of data with exchanges.

(With PTI Inputs)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement