Initial public offerings (IPOs) of three private equity backed companies -- auto component maker Sona BLW Precision Forgings (Sona Comstar), hospital chain Krishna Institute of Medical Sciences Ltd (KIMS) and dairy company Dodla Dairy -- will open next week.
The public issue of Blackstone backed Sona Comstar will open on June 14 and close on June 18; and the the IPOs of TPG Growth backed Dodla Dairy and General Atlantic backed KIMS will open on June 16 and close on June 18, according to statements issued by the companies.
Sona Comstar
Sona Comstar's IPO comprises fresh issue of shares amounting to Rs 300 crore and an offer for sale (OFS) by Blackstone aggregating up to Rs 5,250 crore.
Its IPO has a price band of Rs 285-291 per equity share.
Blackstone acquired Comstar Automotive Technologies in 2017. The next year it bought Sona BLW Precision Forgings Ltd, merging the business with Comstar to form Sona Comstar.
Sona Comstar makes parts such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors and motor control units.
It supplies them to original equipment makers (OEMs) across the US, Europe, India and China.
The company has roped in Kotak Mahindra Capital Company Ltd, Credit Suisse Securities Pvt Ltd, JPMorgan India, JM Financial Ltd and Nomura Financial Advisory and Securities as managers for the issue.
KIMS
The IPO comprises a fresh issue aggregating up to Rs 200 crore and an offer for sale of up to 23.5 million equity shares. General Atlantic is offloading up to 16 million shares.
The price band of the offer has been fixed at Rs 815-825 per equity share.
KIMS was set up in 2004 by Bhaskara Rao, a cardiothoracic surgeon. In addition to providing core medical, surgical and emergency services, it gives advanced quaternary healthcare in various specialties under disciplines such as neurosciences, cardiac sciences, oncology, orthopaedics, renal sciences, organ transplantation and gastric sciences.
Kotak Mahindra Capital, Axis Capital, Credit Suisse Securities (India) and IIFL Securities Limited are the book running lead managers to the offer.
Dodla Dairy
The company's IPO comprises a fresh issue of shares worth Rs 50 crore and an offer for sale of up to 10.9 million equity shares by promoters and investor TPG.
The price band of the offer has been fixed at Rs 421-428 per equity share.
Incorporated in May 1995, Dodla procures, processes and markets milk and value-added dairy products such as curd, ghee, butter, flavoured milk and ice cream. It gets about two-thirds of its revenue from milk and the remaining from dairy products.
ICICI Securities and Axis Capital are the book running lead managers to the issue.