IPO action resumes next week as 2 issues open: Check dates, price band, other key details

Footwear company Campus Activewear and Rainbow Children’s Medicare – a multi-specialty paediatric, obstetrics and gynaecology hospital chain are set to launch their IPOs next week between April 25-April 29

 

Initial public offering (IPO) action is set to resume in primary markets as two new issues are scheduled to open next week, likely to keep investors on their toes. Footwear company Campus Activewear and Rainbow Children’s Medicare – a multi-specialty paediatric, obstetrics and gynaecology hospital chain are set to launch their IPOs next week between April 25-April 29.

Here are the key details such as IPO dates, price band, IPO size of Campus Activewear IPO and Rainbow Children’s IPO:

Campus Activewear IPO:

Price Band, IPO size: Athleisure footwear company Campus Activewear on Thursday fixed a price band of Rs 278-292 a share for its Rs 1,400-crore initial public offering (IPO).

IPO Dates: The three-day initial share-sale will open for public subscription from April 26 and the bidding for anchor investors will open on April 25, according to the company.

-The IPO is entirely an offer for sale (OFS) of 4,79,50,000 equity shares by promoters and existing shareholders.

Promoters, shareholders: Those offering shares in the OFS include promoters — Hari Krishna Agarwal and Nikhil Aggarwal — and existing shareholders — TPG Growth III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel and Rajesh Kumar Gupta.

-Reservation for employees: 2 lakh shares have been reserved for the company’s employees.

-Presently, promoters hold 78.21 per cent stake in the company while TPG Growth and QRG Enterprises own 17.19 per cent and 3.86 per cent shareholding, respectively.

Rainbow Children’s IPO:

-Price Band: Rainbow Children’s Medicare, a multi-specialty paediatric, obstetrics and gynaecology hospital chain, has fixed the price band for its initial public offering at Rs 516-542 per share.

-IPO Dates: The IPO will run from April 27 to 29. The offer for anchor investors will open for a day on April 26.

-The IPO comprises a fresh issue of Rs 280 crore and an offer for sale of 2.4 crore equity shares by promoters and investors.

-IPO Size: At the upper end of the price band, the IPO is sized at Rs 1,580.8 crore.

-Promoters Ramesh Kancharla, Dinesh Kumar Chirla, and Adarsh Kancharla will sell 87.26 lakh shares while British International Investment Plc (formerly CDC Group Plc) and CDC India will offload 1.46 crore shares.

-Reservation for employees: The offer includes a reservation of up to three lakh shares for employees who will get equity at a discount of Rs 20 to the final offer price.

Meanwhile, the government is likely to take a call on the timing of the much-awaited IPO of the country’s largest insurer – Life Insurance Corporation of India’s (LIC) by this week.

The government is also considering cutting the size of the LIC IPO from Rs 55,000-60,000 crore to Rs 30,000 crore. LIC had filed its draft papers for IPO on February 13.

The government has time till May 12 to launch the LIC IPO without filing fresh papers with Securities and Exchange Board of India (SEBI).

If the government misses the window available with it, LIC would have to file fresh papers with the market regulator giving the results of the December quarter and also update the embedded value.
 
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