Indian Companies Gear Up to Raise Rs 11,000 Crore in Primary Capital Markets
Bajaj Housing Finance, PN Gadgil Jewelers, and other companies are set to enter the primary capital markets, raising funds across various sectors.
Primary Capital MarketsIpoBajaj Housing FinancePn Gadgil JewelersNorthern Arc CapitalReal Estate PuneSep 02, 2024
Bajaj Housing Finance, part of the Bajaj Group, is leading the charge with an IPO of Rs 7,000 crore. This offering is notable as it marks the first public issue from the Pune-based group since 2008. The IPO includes a fresh issue of Rs 4,000 crore and an offer for sale (OFS) of Rs 3,000 crore by Bajaj Finance.
Northern Arc Capital, a Chennai-based company, is also entering the market, seeking to raise Rs 1,500 crore. Known for arranging debt for small businesses and micro-lenders, Northern Arc’s offering includes both a fresh issue and an OFS.
PN Gadgil Jewelers, a well-established jewelry retailer with nearly two centuries of history, is also hitting the market. The Pune-headquartered company aims to raise Rs 1,100 crore, which will be used for expanding operations and repaying working capital.
The market activity next week also includes Arkade Developers, Tolins Tyres, Kross, and Gala Precision Engineering, reflecting a wide range of industries. Arkade Developers, focused on redevelopment projects in Mumbai, is raising Rs 430 crore. Tolins Tyres, based in Kochi, is seeking Rs 230 crore to fund its operations in the tyre and tread manufacturing sector.
Auto component manufacturer Kross, headquartered in Jamshedpur, aims to raise Rs 500 crore, while Gala Precision Engineering plans to garner Rs 180 crore to fund its precision engineering operations.
These offerings highlight the diverse nature of companies tapping the market, from real estate and manufacturing to auto components.
Next week’s market activity underscores the growing confidence among companies across various sectors in tapping the primary capital markets. The combined Rs 11,000 crore these companies aim to raise reflects their ambitions and the opportunities available in the Indian market. Investors will be keenly watching these developments as these companies bring their offerings to the market.
About Bajaj Housing Finance
Bajaj Housing Finance is a subsidiary of Bajaj Finance, a leading player in the Indian financial services sector. The company offers a range of financial products and services, including home loans, loan against property, and construction finance.
About PN Gadgil Jewelers
PN Gadgil Jewelers is a well-established jewelry retailer with nearly two centuries of history. The company has a strong presence in Maharashtra and plans to expand its operations across the region.
Frequently Asked Questions
What is the total amount that companies aim to raise in the primary capital markets?
Rs 11,000 crore
Which company is leading the charge with an IPO of Rs 7,000 crore?
Bajaj Housing Finance
What is the purpose of PN Gadgil Jewelers' IPO?
To expand operations and repay working capital
Which companies are entering the market along with Bajaj Housing Finance and PN Gadgil Jewelers?
Northern Arc Capital, Arkade Developers, Tolins Tyres, Kross, and Gala Precision Engineering
What does the market activity next week reflect?
The growing confidence among companies across various sectors in tapping the primary capital markets
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