Two IPOs to hit market next week, eye over Rs 8,000 crore each

by Elite Investment Advisory Services Investment Advisor

Two Initial Public Offers (IPO) viz. SBI Life Insurance and Prataap Snacks are in queue this week to garner an amount of Rs 8,882 crore and Rs. 8,400 crore, respectively. While SBI Life Insurance IPO will hit the capital market on 20 Sept, Indore based company Prathaap Snacks’ offer open for subscription on 22 Sept.

The price band for the public offer of SBI Life Insurance has been fixed between Rs 685 to Rs 700 per share of face value Rs 10 each, with a discount of Rs 68 per share on the offer price to eligible employees.

Prataap Snacks’ offer is estimated to raise up to Rs 482-crore on 22 Sept. The issue with a price band of Rs 930-938 per equity share will close on 26 Sept. The Rs 482-crore issue includes Rs 200 crore through fresh equity issue and the rest from the offer for sale (OFS).The company aims to use the proceeds to expand its chips making capacity and will also use the funds for marketing and brand building activities.