Upcoming IPOs: Milky Mist Dairy Food, Dhoot Transmission, Molbio Diagnostics, 5 others issue to open next week, 8 listings scheduled

The primary market is gaining impetus, with as many as five mainboard initial public offerings (IPOs) opening for subscription next week. They include Dhoot Transmission, Molbio Diagnostics, Milky Mist Dairy Food, Behari Lal Engineering and Shiprocket. SME issues such as Sham Foam, Fascinate Textiles and Pramodini Medicare will also go live.

Listings that are scheduled for next week include Ardee Industries, LEAP India, Technocraft Ventures, Aegeus Technologies, GV Electricals, Anawil Wire & Engineering, LAPL Automotive and Optimystix Entertainment.

Dhoot Transmission IPO

Auto components maker Dhoot Transmission, which has set a price band of ₹829 to ₹871 per share for its ₹3,067 crore initial public offering (IPO), will be open from August 10 to August 12.

The initial share sale is a mix of fresh issuance of ₹1,400 crore and an offer for sale (OFS) of ₹1,666.89 crore by promoters Mangalam Capital Pvt Ltd and BC Asia Investments XV Ltd.

The money raised will be used for debt repayment of the company and its subsidiaries, establishing new wiring harness manufacturing plant and inorganic growth through acquisitions and general corporate purposes.

A lot consists of 17 shares.

Dhoot Transmission manufactures products like wiring harnesses, automotive switches, power cords, cables, electronic sensors and controllers, connectors and terminals.

Molbio Diagnostics IPO

Point-of-care diagnostics company Molbio Diagnostics has fixed a price band of ₹768 to ₹807 per share for its IPO, which will open for subscription on August 10. The issue will conclude on August 12.

The ₹939.70 crore IPO comprises a fresh issue of shares totalling ₹200 crore and an OFS of up to 91.66 lakh shares worth ₹739.70 by existing shareholders.

The company intends to utilise ₹106 crore towards capital expenditure for setting up infrastructure for an R&D facility, Centre of Excellence and connected office space. Around ₹72 crore will be deployed towards the purchase of plant and machinery, and remaining funds will be utilised for general corporate purposes.

Molbio Diagnostics is a point-of-care diagnostics firm offering molecular testing for 30 diseases, including COVID, HIV, tuberculosis, HPV and Hepatitis B and C.

Milky Mist Dairy Food IPO

The initial share sale of dairy product maker Milky Mist Dairy Food is open from August 11 to August 13. The price band has been fixed at ₹133 to ₹140 per share.

The ₹1,553 crore issue comprises new equity shares worth ₹1,428 crore and an OFS of ₹125 crore by promoters Anitha S and Sathishkumar T.

The funds raised will be utilised towards debt clearance and expansion and modernisation of the firm's manufacturing facility at Perundurai, including establishing whey protein concentrate, yoghurt and cream cheese plants.

The company also plans to widen its cold-chain infrastructure by deploying visi coolers, chocolate coolers and ice cream freezers, besides using a part of the proceeds for corporate general purposes.

Milky Mist is one of the leading premium dairy brands in India focused on value-added dairy products.

Behari Lal Engineering IPO

Engineering castings and alloy steel products maker Behari Lal Engineering has set a price band of ₹271-₹285 per share for its IPO, seeking to raise ₹302 crore. The issue will be live from August 12 to August 14.

The ₹301.62 crore offering is a mix a fresh issue worth ₹93 crore and an OFS of ₹208.62 by existing shareholders.

The money raised will be used towards funding capital expenditure needs, repayment of certain borrowings, and general corporate purposes.

Behari Lal Engineering manufactures engineering castings, metal rolls and alloy steel products serving industries such as steel, power and heavy engineering.

Shiprocket IPO

Temasek-backed e-commerce enablement platform Shiprocket will launch its public issue from August 12 to August 14. With a price band of ₹92 to ₹97 per share, a lot consists of 154 shares.

The ₹1,617.48 crore IPO comprises a fresh issue of ₹885.50 crore and an OFS ₹731.98 crore by existing investors.

The fresh issue proceeds will be used for investment in marketing initiatives and technology infrastructure, debt clearance, inorganic growth through unidentified acquisitions and general corporate purposes.

Shiprocket Ltd has evolved from a shipping service provider into a full-stack e-commerce enablement platform serving to direct-to-consumer (D2C) brands and Micro, Small and Medium Enterprises (MSMEs).