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The IPO market promises to be exciting in 2016 too, with Ujjivan Financial Services and Thyrocare Technologies filing draft documents with capital market regulator SEBI on the last day of the year.
The offer size for Ujjivan, a microfinance lender armed with a provisional licence from the RBI to convert to a small finance bank, is rumoured to be between ₹1,200 and ₹1,500 crore, of which about ₹650 crore will be fresh equity issue. A host of the PE investors, including World Bank-arm IFC, are looking to exit their investments in the company by jointly putting almost 2.5 crore shares on the block. Ujjivan is also planning a private placement of 2.2 crore shares for ₹450 crore ahead of the public issue. If this is successful, the IPO size will reduce proportionately subject to a minimum of ₹400 crore. Medical and diagnostics chain Thyrocare Technologies Ltd also filed its draft red herring prospectus with the regulator on Thursday, though the offer size is not known yet. Private equity investor CX Partners, through Agalia Pvt Ltd, is the second largest shareholder in Thyrocare (21.02 per cent) and will be partially exiting through the IPO. Thyrocare is placing over 1.74 crore shares on the block, the bulk of which will come from the promoter group.
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