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2013-03-11

Repco Home, Bothra Metals to go for IPO this week

IPOs of Chennai-based Repco Home and Mumbai-based Bothra Metals will hit the stock market this week as experts maintain that a number of other IPOs could come soon if the investor sentiment remains upward and intact.

IPOs of Chennai-based Repco Home and Mumbai-based Bothra Metals will hit the stock market this week as experts maintain that a number of other IPOs could come soon if the investor sentiment remains upward and intact.

Chennai-headquartered Repco Home Finance, a subsidiary of government-owned Repco Bank, will hit the capital market with Rs 270 crore initial public offer (IPO) between March 13-15.

The price band of the public issue of Rs 1.57 crore equity shares has been fixed between Rs 165 and Rs 172 a share.

The company will mop up Rs 259 crore at the lower-end and Rs 270 crore at the upper-end of the price band. The proceeds are expected to be used for business development in housing finance industry.

Bothra Metals & Alloys also plans to raise Rs 12.21 crore through an IPO and plans to list on BSE SME Exchange platform. Its issue will open on March 12 and close on March 14.

The two issues will hit the capital market this week, seeking to raise around Rs 300 crore amid a strong stock market where the BSE benchmark Sensex has gained 764.71 points or 4 percent so far this month.

According to market experts, when markets are strong, companies tap the primary market route amid optimism that their issues will comfortably sail through.

More than a dozen companies, including Just Dial and Videocon D2H, have already filed their draft IPO offer documents with market regulator SEBI and would look to sell shares some time in 2013.

In calendar year 2012, about Rs 6,693 crore was raised through about 37 IPOs. About 12 companies hit the small and medium enterprises (SMEs) platforms of BSE and NSE to raise a total of Rs 92 crore through their IPOs in 2012.

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