Latest IPO buzz

India's growing into a major IPO hub with many IPO s being announced this year. These are some of the latest developments;

Allied Blenders and Distilleries

Allied blenders and distillers is involved in the distribution of alcoholic beverages and has set a price range of Rs 267 to Rs 281 per share for its Rs 1,500-crore IPO. 

The company announced that the public can subscribe to the initial share-sale from June 25-27, and the bidding for anchor investors will be open for a day on June 24.

The company’s initial share-sale comprises a fresh issue of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares of Rs 500 crores by promoters.

Ola Electric

Sebi has approved Ola electric's planned IPO launch of ₹5500 crores, with the company using the majority of the proceeds for expanding its capacity and boosting its R&D facilities. 

It has proposed to utilise ₹1226.43 crores out of the total amount of ₹5500 crores for expanding its cell-manufacturing plant from 5 GWh to 6.4 GWh. 

It will use around ₹1600 crores for its research and product development and the remining ₹800 crores will be used to pay off debts.

Divine Power

Divine Power Energy Ltd. which is into the business of insulated wires and strips and has plans to raise around ₹22.76 crores through its IPO, which will be launched in the coming week.

It has got all the necessary approvals on NSE's Emerge Platform.

The price band is fixed at ₹36-40 per share, for an issue of 56.88 lakh shares. It will open for subscription between 25-27th June.