IPOs set to raise ` 14K- cr this week

Funds raised would be used for growth

New Delhi, July 15: The IPO lane is getting busy as at least seven companies, including Lodha Developers and HDFC Mutual Fund, are expected to hit the capital market in the coming week to raise over ` 14,000 crore.

The first among the lot would be TCNS Clothing, which sells its products under W, Aurelia and Wishful brands, that will launch its ` 1,125- crore initial share- sale this week.

While six others — Lodha Developers, HDFC MF, Nekkanti Sea Foods, Flemingo Travel Retail, Patel Infrastructure and Genius Consultants — are expected to launch their respective IPOs in the coming week, according to sources.

Together, these seven companies are aiming to raise more than ` 14,000 crore, they added.

These firms are coming out with IPOs to raise funds for business expansion plans, repayment of loans and to support working capital requirements. Further, many firms are opting the IPO route to give partial exit to their existing shareholders including private equity and venture capital firms.

By taking the IPO route, firms will also achieve the benefits of listing the equity shares on the bourses, which enhances their brand

name. “These companies have already secured Sebi’s approval to float IPO and now they are expected to launch their initial public offers next month,” a merchant banker said.