Introduction
The landscape of initial public offerings (IPOs) in India is pulsating with activity as several companies, including All Time Plastics, Scoda Tubes, and Dev Accelerator (DevX), have filed their draft red herring prospectuses (DRHP) with the Securities and Exchange Board of India (SEBI). This surge in DRHP filings indicates a vibrant market environment, showcasing the increasing interest of firms aiming to tap into public capital. As market experts suggest, with a record set on September 30th, when 17 mainboard IPO filings occurred in just a single day, the IPO frenzy is far from cooling down.
Key Highlights of Upcoming IPOs
| Company | Amount to Raise (in ₹) | Main Purpose of Funds |
|---|---|---|
| All Time Plastics | 350 crore | Repay borrowings, Acquire machinery, General corporate purposes |
| Scoda Tubes | 275 crore | Expand production capacity, Working capital, General corporate ends |
| Dev Accelerator (DevX) | Exciting potential with 24,700,000 equity shares | Outfit new centers, Repay borrowings, General corporate purposes |
All Time Plastics IPO Details
All Time Plastics plans to raise up to ₹350 crore through a combination of new equity shares and an offer-for-sale (OFS) of up to 5,250,000 equity shares. The net proceeds are earmarked for vital expenditures: approximately ₹120 crore to settle outstanding borrowings, ₹133.73 crore to acquire equipment for a new facility in Manekpur, and the remaining funds for corporate needs.
Company Overview
As per fiscal 2023 reports, All Time Plastics stands as the second largest B2B player in India’s plastic consumerware market. With over 13 years in manufacturing everyday plastic items, they have evolved into specialists in white-label production, serving premium products under various brands. Notably, they also promote their exclusive line of “All Time Branded Products.”
Management Team
The issue is managed by lead managers DAM Capital Advisors Ltd and Intensive Fiscal Services Private Ltd, who are tasked with ensuring a successful IPO process.
Scoda Tubes IPO Overview
Scoda Tubes aims to raise ₹275 crore through the issuance of new equity shares. The raised funds will primarily focus on expanding production capabilities in seamless and welded tubes while addressing working capital demands and general corporate purposes.
About Scoda Tubes
Operating in the stainless steel sector for over 14 years, Scoda Tubes produces a diverse range of products categorized under five major product lines. Their offerings include seamless pipes and tubes, U tubes, instrumentation tubes, and welded tubes. The company is driven by a team of experienced promoters dedicated to sustaining growth within the stainless steel industry.
Management Team
The IPO is being managed solely by Monarch Networth Capital, which plays a crucial role in the successful advancement of the offering.
Dev Accelerator (DevX) IPO Insights
Dev Accelerator aims to raise funds by issuing up to 24,700,000 equity shares, each with a face value of ₹2. The funds generated from the IPO are set to be utilized for a spectrum of purposes, including the establishment of new centers and the redemption of certain borrowings.
Market Position
DevX is positioned as one of the largest flex space operators in Tier-2 cities according to a JLL report. Their offerings encompass everything from securing office spaces to comprehensive asset management, with 25 centers across 11 Indian cities serving over 230 clients as of August 31, 2024.
Management Team
The sole book-running lead manager for this IPO is Pantomath Capital Advisors Private Ltd, tasked with steering the company through the IPO process.
Conclusion
With a flurry of upcoming IPOs in the pipeline, investors should remain vigilant and informed. Each of these companies presents a unique opportunity for investment, aligned with distinct growth strategies and market positions. As the IPO landscape in India continues to thrive, potential investors are encouraged to consult with certified experts to navigate their investment decisions wisely.
