Seven IPOs worth Rs 11,000 crore to flood Dalal Street next week

MUMBAI: Seven companies including Bajaj Housing Finance, debt arranging platform Northern Arc and jewellery player PN Gadgil Jewelers are hitting the primary capital markets next week, seeking to mop up close to Rs 11,000 crore.

The other issuers tapping the market next week are Arkade Developers, Tolins Tyres, auto component player Kross and Gala Precision Engineering.

While the issue from Bajaj Housing Finance is the largest at Rs 7,000 crore, the Chennai-based debt arranger Northern Arc is raising Rs 1,500 crore, the Pune-headquartered almost 200-year-old PNG Jewelers is mopping up Rs 1,100 crore, Kross is looking at raising Rs 500 crore, the city-based Arkade Developers which is primarily into redevelopment in the megapolis is seeking to garner Rs 430 crore in a fully primary issue, the Kerala-based Tolin Tyers is eyeing Rs 230 crore, and the city-based Gala Precision Engineering is looking at garnering Rs 180 crore, according to their filings with the regulator Sebi.

The Rs 7,000-crore Bajaj Housing issue is the first IPO from the Pune-based group since May 2008 and consists of a fresh issue of Rs 4,000 crore and an offer for sale of up to Rs 3,000 crore by the selling shareholder Bajaj Finance.