Upcoming IPO: All Time Plastics, Scoda Tubes and Dev Accelerator (DevX) have filed their draft red herring prospectuses (DRHPs) with the capital market regulator, Securities and Exchange Board of India (SEBI), for initial public offerings (IPOs).
The filing of DRHPs by numerous companies with SEBI suggests that the IPO frenzy is unlikely to subside anytime soon. According to market experts, a record 17 mainboard IPO DRHPs were filed in just one day (30th September). This marks the highest number of DRHP filings in a single day.
All Time Plastics intends to raise capital via a mix of new issue of equity shares worth up to ₹350 crore and an offer-for-sale (OFS) of a maximum of 5,250,000 equity shares.
The company plans to use the net proceeds raised for (i) repaying a portion or all of the specific outstanding borrowings totalling ₹120 crore, (ii) acquiring equipment and machinery for the upcoming Manekpur Facility, with an allocation of ₹133.73 crore, (iii) and the remaining amount for general corporate purposes.
As of fiscal 2023, All Time Plastics is the second biggest B2B player in India's plastic consumerware sector in terms of revenue. According to the Technopak Report, the company has more than 13 years of experience in producing plastic consumer items intended for everyday home use. With time, the business has developed a speciality in white-label manufacturing, creating premium goods for clients to sell under its brands. Under the exclusive brand "All Time Branded Products," it also advertises its own line.
The issue's book-running lead managers are DAM Capital Advisors Ltd and Intensive Fiscal Services Private Ltd.
Scoda Tubes plans to issue new equity shares worth up to ₹275 crore. The company intends to use the funds raised from the fresh issue for expanding the production capacity of seamless and welded tubes and pipes, meeting the additional working capital needs, and general corporate purposes.
The firm is an Indian maker of stainless steel pipes and tubes with more than 14 years of expertise. Under five product lines, namely: (i) stainless steel seamless pipes; (ii) stainless steel seamless tubes; (iii) stainless steel seamless "U" tubes; (iv) stainless steel instrumentation tubes; and (v) stainless steel welded tubes and "U" tubes, the products are broadly categorised into: (i) seamless tubes/pipes; and (ii) welded tubes and pipes.
The company's promoters, Samarth Patel, Jagrutkumar Patel, Ravi Patel, Saurabh Patel, and Vipulkumar Patel, have years of expertise in the seamless and welded stainless steel tube and pipe sector.
The issue's lone book-running lead manager is Monarch Networth Capital.
Dev Accelerator is looking to raise funds by issuing up to 24,700,000 equity shares with a face value of ₹2 each.
The company intends to use the proceeds to finance various objectives, including capital expenditure for outfitting new centres and for security deposits of the new centres; full or partial repayment of certain borrowings, including the redemption of non-convertible debentures issued by the company; and for general corporate purposes.
In terms of operational flex stock in Tier-2 cities, DevX is among the biggest flex space operators, according to a JLL Report. The company has a presence in 15 Tier-1 and Tier-2 submarkets in India and specialises in providing businesses with comprehensive built-to-suit managed office solutions. From locating office spaces to creating premises, sourcing designs, designing technological solutions, and offering full asset management, the organisation offers comprehensive services. With 25 centres spread across 11 Indian cities, the organisation served over 230 clients as of August 31, 2024.
The issue's sole book-running lead manager is Pantomath Capital Advisors Private Ltd.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
