- Star Health IPO to open on 30th November and close on 2nd December
- The issue of Tega Industries will open on December 1 and close on December 3
- Ten companies have brought their issues so far in this month
New Delhi. Star Health & Allied Insurance Company and Tega Industries are set to bring their initial public offerings (IPOs) in the coming week. Through this he plans to raise Rs 7,868 crore. The IPO of Star Health will open on November 30 and close on December 2. On the other hand, the issue of Tega Industries will open on December 1 and close on December 3.
The month of November has proved to be very good for companies in terms of IPO. In this month so far ten companies have brought their issues and all of them have been received by the investors. If we talk about the year 2021, then so far this year, a total of 51 companies have come with IPO.
According to the data received from the stock market, more than one lakh crore rupees have been raised through these issues. In addition, POWERGRID CORPORATION’s infrastructure investment trust POWERGRID InvIT also raised Rs 7,735 crore through its issue, while Brookfield India Real Estate Trust raised Rs 3,800 crore through its initial share sale. Compared to the year 2020, this year has proved to be much better from the point of view of raising money from share sale.
In the last full year, 15 companies had raised only Rs 26,611 crore from their initial issuances. However, in the upcoming IPO this week, Star Health will issue new shares worth Rs 2,000 crore as well as offer for sale (OFS) of 5,83,24,225 equity shares held by promoters and existing shareholders. Private sector insurer Star Health has fixed a price range of Rs 870-900 for bidding of shares.
On the upper limit, the company expects to raise Rs 7,249.18 crore from this IPO. On the other hand, mining industry products maker Tega Industries is inviting bids from investors for 1,36,69,478 equity shares held by its promoters and existing shareholders. The price range for this has been kept at Rs 443-453 per share. The company expects to raise Rs 619.22 crore on the upfront share sale. The shares of both the companies that brought the IPO will be listed on both the BSE and NSE markets.
Read more business news click here
Visit Home jsnewstimes.com