Mukesh Ambani: ‘Global gamechanger’ Mukesh Ambani adds $7 billion wealth in just 5 months

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IPOs to look out for

17 May, 2017

Initial Public Offering or IPO is the first time the stock of private companies is offered to the public. This is done to expand the current scale of operations by companies that decide to go public. After getting approval from the concerned regulator, the company is assisted by an underwriting firm to decide the type of security, the number of shares, the initial price and the best time to issue. Let's check out the upcoming IPOs in the domestic capital market.

General Insurance Corporation of India (GEC)

17 May, 2017

It will be going public in the next six to eight months. The corporation plans to dilute 25 per cent. The governement has allowed the listing through a combination of sale of shares and issuing fresh equity. It was incorporated in 1972 under the Companies Act, 1956. GIC was formed for the purpose of supervising, controlling and carrying on the business of general insurance.

Eris Lifesciences

17 May, 2017

It is a pharmaceutical company formed in 2007. It received capital market regulator Sebi's approval to raise an estimated Rs 2,000 crore through an initial public offering. The IPO will see sale of 28,875,000 equity shares by the existing shareholders. The equity shares are proposed to be listed on the BSE and the NSE.

Energy Efficiency Services Ltd. (EESL):

17 May, 2017

It was set up under Ministry of Power (India) to facilitate implementation of energy efficiency projects. EESL could launch its IPO as soon as the fourth quarter this year, after a planned September issue of $100 million in Masala and dollar bonds in the UK. EESL could list as much as 20 per cent of its shares and will have an equity value of 15 billion rupees.

GTPL Hathway

17 May, 2017

GTPL Hathway, which offers cable TV and broadband services, has received capital markets regulator Sebi's approval to float an initial public offering. Its public issue comprises fresh issuance of equity shares worth Rs 300 crore and offer for sale of 1.8 crore scrips by the existing shareholders. Besides, the company is considering a pre-IPO placement of up to 90 lakh equity shares aggregating up to Rs 150 crore to certain investors.

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