Suraj Estate, Motisons, Mukka, Happy Forgings and RBZ likely to open IPO inDecember: Sources

 Suraj Estate, Motisons, Mukka, Happy Forgings and RBZ likely to open IPO inDecember: Sources

Five firms are looking to go to market in December 2023 considering the bull market sentiment and interest from investors towards Initial Public Offerings.In the past four months, 33 IPOs have hit the capital market, accumulating Rs 30,802.62 crores. Contrasting this surge, the initial months of the calendar year experienced an IPO drought, with merely 9 issues aggregating just over Rs 8,070.20 crores. The month of September saw a notable spike with 14 IPOs listing on the exchange, totalling an issue size of Rs 11,892.78 crores. Moving forward, the IPO landscape showed varying activity, with 8, 7, and 4 IPOs open for subscription in November, August, and October, respectively.

 

Suraj Estate Developers, Motisons Jewellers, RBZ Jewellers, Happy Forgings are among those that have filed their UDRHP as on date according to merchant banking sources.

 

These companies had filed and refiled their preliminary IPO papers with Sebi between March and August and received Sebi's final observation letters between August 28 and November 15.

 

Jaipur-based retail jeweller, Motisons Jewellers and Ahmedabad-based RBZ Jewellers’ initial public offering comprises a fresh issue of 33.47 million and 10 million equity shares, with no offer-for-sale component.

 

In October 2023, Motisons raised Rs 33 cr in a Pre IPO placement of 60,00,00 equity shares at an issue price of Rs 55 per equity share from multiple high networth investors

 

Mangalore-based Mukka Proteins, a manufacturer of fish meal, fish oil, and fish soluble paste, an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (dog and cat food), refiled its draft red herring prospectus (DRHP) with a face value of Re 1 per equity share, which is entirely a fresh issue of up to 80 million equity shares.

 

RBZ Jewellers is one of the leading organized manufacturers of gold jewellery in India, specializing in antique gold Jewellery and catering to reputable nationwide retailers and significant regional players in India.

 

Mumbai-based real estate player Suraj Estate Developers, one of the market leaders in the combined markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel markets’ initial public offering is a Rs 400 crore fresh issue of shares. The company had refiled preliminary IPO papers with Sebi in July 2023.

 

Ludhiana-based Happy Forgings Ltd’s IPO comprises a fresh issue of Rs 500 crore and an offer for sale (OFS) of up to 8.05 million shares by the promoter and selling shareholders. It is an auto component maker and the fourth largest engineering-led manufacturer of complex and safety-critical, heavy-forged, and high-precision machined components in India as of fiscal 2023 in terms of forging capacity.