Upcoming IPOs: Hy-Tech Engineers, Skyways Air, Symbiotec Pharmalab, 6 other issues to open next week, 8 listings scheduled

Upcoming IPOs: The primary market will continue to captivate investors next week as nine mainboard initial public offerings will open for subscription. They include Symbiotec Pharmalab, Hy-Tech Engineers, Skyways Air Services, Annu Projects and Lumino Industries. SME offerings that will launch include Madhur Knit Crafts, ABH Healthcare, Sumax Engineering and Kwick Forensic Solutions.

Symbiotec Pharmalab IPO

Pharma and biotech player Symbiotec Pharmalab will launch its initial public offering (IPO) on August 24, seeking to raise ₹1,757 crore via a combination of a fresh issue (₹150 crore) and an offer for sale (₹1,607 crore). The issue will conclude on August 27.

With a price band of ₹938 to ₹988 per share, a lot consists of 15 shares.

Proceeds of the fresh issue will be utilised for debt clearance and general corporate purposes.

The Indore-based Symbiotec Pharmalab is a research and development-driven pharmaceutical and biotechnology firm with capabilities across three platforms – biotechnology, organic chemistry and complex injectables.

Hy-Tech Engineers IPO

Hydraulic fitting manufacturer HyTech Engineers Ltd has set the price band at ₹50 to ₹53 per share for its initial public offering, which will run from August 24 to August 27.

The ₹135.73 crore IPO will be a mix of fresh issuance of ₹60 crore and an offer for sale of ₹75.73 crore.

Funds to the tune of ₹29.96 crore will be used to procure machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I, and ₹16 crore will be utilised for repayment of loans. The remaining funds will be used for corporate general purposes.

Bids can be made for at least a single lot size of 283 equity shares and in multiples thereof.

Hy-Tech Engineers operates on a business-to-business (B2B) model across both domestic and international markets, serving original equipment manufacturers (OEMs) and other industrial customers. It has six manufacturing units across the country.

Skyways Air Services IPO

The initial share sale of Skyways Air Services will open on August 24. The issue, with a price band of ₹131 to ₹138 per share, will end on August 27. A lot consists of 100 shares.

The ₹582.80 crore issue is a combination of a fresh issuance of ₹398.80 crore and an OFS of ₹184 crore.

The money raised will be used for repayment of certain outstanding borrowings availed by the company and its subsidiary, working capital needs and general corporate purposes.

Skyways Air Services is a logistics and freight forwarding company. It provides a comprehensive range of logistics solutions such as air and ocean freight forwarding, warehousing, customs broking, trucking, technology-driven express cargo and parcel delivery, and other value-added services.

Annu Projects

Engineering procurement and construction company Anu Projects has fixed the price band at ₹94 to ₹99 per share for its ₹175-crore initial public offering. The issue will be live from August 25 to August 28.

The IPO is exclusively a fresh issue of 17,683,000 equity shares, with no OFS component.

The company intends to use ₹115 crore of the issue proceeds for funding working capital needs, ₹15 crore for capital expenditure requirements for the purchase of machinery and the rest for general corporate purposes.

Annu Projects, established in 2003, is involved in the design, development, operation, and maintenance of essential overhead and underground utilities infrastructure across the sewerage, telecom, gas pipeline, and railway signalling verticals.

Lumino Industries IPO

The ₹175.06 crore issue comprises new equity shares worth ₹500 crore and an OFS of ₹200 crore.

Objectives of the IPO include payment of debt, purchase of machinery and equipment, civil works and interior development of an existing manufacturing unit and general corporate purposes.

Lumino Industries, incorporated in 2005, is a product-centric, integrated EPC company in India, specialising in the making and supply of power cables, conductors, electrical wires, and other specialised components required in the power distribution and transmission sector.