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Krsnaa Diagnostics Limited
Min. quantity - 15
Price range - ₹933 - ₹954 IPO Size - ₹1213 Cr
Price range - ₹933 - ₹954
IPO Timeline
Application start04-08-2021
Company details
Incorporated in 2010, Pune-based Krsnaa Diagnostic provides a range of technology enabled diagnostic services such as imaging (including radiology), clinical laboratory tests, pathology and tele-radiology to public and private hospitals, medical colleges and community health centres across India. These services and tests are used for prediction, early detection, diagnostic screening, confirmation or monitoring of diseases. The company runs one of India’s largest tele-radiology reporting hubs which is located in Pune. This hub processes large volumes of X-rays, CT and MRI scans, allowing it to serve patients in remote locations where diagnostic facilities are limited. Since its inception, the diagnostic company has catered to 23 million patients. Krsnaa Diagnostic primarily focuses on the public private partnership (PPP) diagnostic segment, which contributes 67% of the total revenue. It usually enters into long-term PPP agreements which provide predictability of revenue. The company has opened 1,797 diagnostic centres in partnership with public agencies. Besides this, it is also increasing its collaboration with private healthcare players. This segment currently contributes around 33% of the revenue. After making losses in FY19 and FY20, the company posted a profit of ₹184 crore in FY21. Meanwhile, between FY19 and FY20, the company’s revenue has grown at a CAGR of 37.5%.
The IPO size is ₹1,213 crore. Of this, the fresh issue of ₹400 crore will be used for establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra as well as repaying a portion of the debt. The remaining ₹813 crore is an offer for sale.
Incorporated in 2010, Pune-based Krsnaa Diagnostic provides a range of technology enabled diagnostic services such as imaging (including radiology), clinical laboratory tests, pathology and tele-radiology to public and private hospitals, medical colleges and community health centres across India. These services and tests are used for prediction, early detection, diagnostic screening, confirmation or monitoring of diseases. The company runs one of India’s largest tele-radiology reporting hubs which is located in Pune. This hub processes large volumes of X-rays, CT and MRI scans, allowing it to serve patients in remote locations where diagnostic facilities are limited. Since its inception, the diagnostic company has catered to 23 million patients. Krsnaa Diagnostic primarily focuses on the public private partnership (PPP) diagnostic segment, which contributes 67% of the total revenue. It usually enters into long-term PPP agreements which provide predictability of revenue. The company has opened 1,797 diagnostic centres in partnership with public agencies. Besides this, it is also increasing its collaboration with private healthcare players. This segment currently contributes around 33% of the revenue. After making losses in FY19 and FY20, the company posted a profit of ₹184 crore in FY21. Meanwhile, between FY19 and FY20, the company’s revenue has grown at a CAGR of 37.5%.
The IPO size is ₹1,213 crore. Of this, the fresh issue of ₹400 crore will be used for establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra as well as repaying a portion of the debt. The remaining ₹813 crore is an offer for sale.
Devyani International Limited
Min. quantity - 165
Price range - ₹86 - ₹90 IPO Size - ₹1838 Cr
Price range - ₹86 - ₹90
IPO Timeline
Application start04-08-2021
Company details
Incorporated in 1991, Devyani International Limited (DIL) is the largest franchisee of American fast-food corporation Yum Brands in India. DIL, which runs outlets of brands like KFC, Pizza Hut and Costa Coffee, is one of the biggest quick-service restaurant (QSR) players in India. It has been associated with Yum Brands since 1997 and has consistently expanded its footprint in the country. The company has a pan-India presence, operating 696 stores across 166 cities in India as of June 2021. Between FY19 and FY21, the store network of its core brands (KFC, Pizza Hut and Costa Coffee) has grown at a CAGR of 13.5%. For KFC and Pizza Hut, the company also collaborates with Yum Brands for product innovation and development, brand strategy and technology initiatives. Besides these core brands, DIL also has a presence in the food and beverage sector, through brands such as Vaango and Food Street. Further, the company also operates restaurants outside India in countries like Nepal and Nigeria. In FY21, its revenue shrunk by 25% to ₹1,134 crore. However, the company’s losses nearly halved to ₹62 crore in FY21 from ₹121 crore in FY20.
The IPO size is ₹1,838 crore, which consists of a fresh issue of ₹440 crore and an offer for sale of ₹1,398 crore. The company has said that ₹324 crore from the fresh issue will be used to repay a part of its debt.
Incorporated in 1991, Devyani International Limited (DIL) is the largest franchisee of American fast-food corporation Yum Brands in India. DIL, which runs outlets of brands like KFC, Pizza Hut and Costa Coffee, is one of the biggest quick-service restaurant (QSR) players in India. It has been associated with Yum Brands since 1997 and has consistently expanded its footprint in the country. The company has a pan-India presence, operating 696 stores across 166 cities in India as of June 2021. Between FY19 and FY21, the store network of its core brands (KFC, Pizza Hut and Costa Coffee) has grown at a CAGR of 13.5%. For KFC and Pizza Hut, the company also collaborates with Yum Brands for product innovation and development, brand strategy and technology initiatives. Besides these core brands, DIL also has a presence in the food and beverage sector, through brands such as Vaango and Food Street. Further, the company also operates restaurants outside India in countries like Nepal and Nigeria. In FY21, its revenue shrunk by 25% to ₹1,134 crore. However, the company’s losses nearly halved to ₹62 crore in FY21 from ₹121 crore in FY20.
The IPO size is ₹1,838 crore, which consists of a fresh issue of ₹440 crore and an offer for sale of ₹1,398 crore. The company has said that ₹324 crore from the fresh issue will be used to repay a part of its debt.
Min. quantity - 125
Price range - ₹118 - ₹120 IPO Size - ₹161 Cr
Price range - ₹118 - ₹120
IPO Timeline
Application start04-08-2021
Company details
Gujarat-based Exxaro Tiles manufactures and markets vitrified tiles, which are predominantly used for flooring. Along with a well-diversified product range, it has a network of more than 2,000 dealers. Through this network, it supplies products to various projects including residential, commercial, educational institutions, hospitals and government institutions. The company has a pan-India presence and also exports to 12 countries including Poland, UAE and Bosnia. It garners around 14% of its total revenue from exports. This segment has grown at a CAGR of 47% between FY19 and FY21. In the same period, the company’s profit has grown at a CAGR of 30.6%. And its revenue has increased 2.6% on an average annually.
The IPO size is ₹161 crore. Of this, the offer for sale is ₹26.8 crore and the remaining ₹134.2 crore is the fresh issue. The company plans to use the IPO proceeds to repay debt and for working capital requirements.
Gujarat-based Exxaro Tiles manufactures and markets vitrified tiles, which are predominantly used for flooring. Along with a well-diversified product range, it has a network of more than 2,000 dealers. Through this network, it supplies products to various projects including residential, commercial, educational institutions, hospitals and government institutions. The company has a pan-India presence and also exports to 12 countries including Poland, UAE and Bosnia. It garners around 14% of its total revenue from exports. This segment has grown at a CAGR of 47% between FY19 and FY21. In the same period, the company’s profit has grown at a CAGR of 30.6%. And its revenue has increased 2.6% on an average annually.
The IPO size is ₹161 crore. Of this, the offer for sale is ₹26.8 crore and the remaining ₹134.2 crore is the fresh issue. The company plans to use the IPO proceeds to repay debt and for working capital requirements.
Min. quantity - 30
Price range - ₹448 - ₹460 IPO Size - ₹165 Cr
Price range - ₹448 - ₹460
IPO Timeline
Application start04-08-2021
Company details
Incorporated in 2009, Windlas Biotech is one of the top five pharmaceutical formulations manufacturers in India. The company provides a range of CDMO (contract development and manufacturing operations) services such as product discovery, development, licensing and commercial manufacturing of generic products. It offers CDMO services to some of the top names in the pharma industry including Pfizer, Sanofi India and Cadila Healthcare. The company derives around 85% of the revenue from this segment. It also sells its own branded trade generic and OTC products (nutraceutical and health supplement), which contribute around 10% of the total revenue. Besides these segments, the company also garners around 5% of the revenue from exports of generic and health supplements to its primary markets like Vietnam, Myanmar, Sri Lanka, Thailand, Philippines, Cambodia, Fiji, Trinidad & Tobago and South Africa. With the CMDO segment providing stable and steady cash flow, the company has been able to grow its topline consistently. During FY19–21, the company’s revenue has grown at a CAGR of around 18%. But, in the same period, its net profit has shrunk from ₹63.8 crore to ₹15.5 crore.
The IPO size is ₹402 crore. Of which, the offer for sale is ₹237 crore and the remaining ₹165 crore is the fresh issue. The company has said that it will use the proceeds from the IPO for capacity expansion, incremental working capital requirement and repayment of debt.
Incorporated in 2009, Windlas Biotech is one of the top five pharmaceutical formulations manufacturers in India. The company provides a range of CDMO (contract development and manufacturing operations) services such as product discovery, development, licensing and commercial manufacturing of generic products. It offers CDMO services to some of the top names in the pharma industry including Pfizer, Sanofi India and Cadila Healthcare. The company derives around 85% of the revenue from this segment. It also sells its own branded trade generic and OTC products (nutraceutical and health supplement), which contribute around 10% of the total revenue. Besides these segments, the company also garners around 5% of the revenue from exports of generic and health supplements to its primary markets like Vietnam, Myanmar, Sri Lanka, Thailand, Philippines, Cambodia, Fiji, Trinidad & Tobago and South Africa. With the CMDO segment providing stable and steady cash flow, the company has been able to grow its topline consistently. During FY19–21, the company’s revenue has grown at a CAGR of around 18%. But, in the same period, its net profit has shrunk from ₹63.8 crore to ₹15.5 crore.
The IPO size is ₹402 crore. Of which, the offer for sale is ₹237 crore and the remaining ₹165 crore is the fresh issue. The company has said that it will use the proceeds from the IPO for capacity expansion, incremental working capital requirement and repayment of debt.
Rolex Rings Limited
Min. quantity - 16
Price range - ₹880 - ₹900 IPO Size - ₹731 Cr
Price range - ₹880 - ₹900
IPO Timeline
Application start28-07-2021
Company Details
Rolex Rings is a global automotive component manufacturer, based in Rajkot, Gujarat. The company manufactures hot-rolled forged and machined bearing rings and automotive parts, which are used in two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. It makes a diversified range of bearing rings—weighing from 0.01 kg to over 163 kg with an inner diameter of 25 mm to outer diameter of 900 mm—which are suitable for a wide range of end-users. The company has 60 customers in 17 countries, including India, and derives more than half of its revenues from overseas. Rolex Rings’ customers include some of the top global and domestic names such as SKF India, Schaeffler India, Timken India, NEI and NRB. Importantly, the company has forged a long-term relationship with its customers. It has been doing business with 7 of its 10 largest customers for over a decade now. Meanwhile, Rolex Rings has also managed to post healthy profit growth. Between FY19 and FY21, its net profit grew at a compounded annual growth rate (CAGR) of 21.3%.
The IPO size is ₹731 crore. Of which, the fresh issue is 56 crore. This will be used for funding long-term working capital requirements and general corporate purposes. The remaining ₹675 crore is an offer for sale from the promoters.
Glenmark Life Sciences Limited
Rolex Rings is a global automotive component manufacturer, based in Rajkot, Gujarat. The company manufactures hot-rolled forged and machined bearing rings and automotive parts, which are used in two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles, industrial machinery, wind turbines and railways. It makes a diversified range of bearing rings—weighing from 0.01 kg to over 163 kg with an inner diameter of 25 mm to outer diameter of 900 mm—which are suitable for a wide range of end-users. The company has 60 customers in 17 countries, including India, and derives more than half of its revenues from overseas. Rolex Rings’ customers include some of the top global and domestic names such as SKF India, Schaeffler India, Timken India, NEI and NRB. Importantly, the company has forged a long-term relationship with its customers. It has been doing business with 7 of its 10 largest customers for over a decade now. Meanwhile, Rolex Rings has also managed to post healthy profit growth. Between FY19 and FY21, its net profit grew at a compounded annual growth rate (CAGR) of 21.3%.
The IPO size is ₹731 crore. Of which, the fresh issue is 56 crore. This will be used for funding long-term working capital requirements and general corporate purposes. The remaining ₹675 crore is an offer for sale from the promoters.
Price range - ₹695 - ₹720
IPO Timeline
Company details
About Glenmark Life Sciences Incorporated in 2011, Glenmark Life Sciences is a wholly-owned subsidiary of Glenmark Pharmaceuticals. It is a leading developer and manufacturer of active pharmaceutical ingredients (API) in chronic therapeutic areas including cardiovascular disease, central nervous system disease, pain management and diabetes. The company’s key business vertical is generic API, which contributes around 91% of the revenue. The remaining 9% of the revenue includes 8% from contract development and manufacturing operations (CDMO) to multinational and specialty pharma companies and 1% from other operating income. Headquartered in India, Glenmark Life Sciences has a diversified portfolio of products and customers. The company has developed 120 molecules, which it sells in India, Europe, Latin America, North America, Japan and the rest of the world. Of the 20 largest generic pharma companies in the world, 16 are customers of Glenmark Life Sciences. This has helped the company deliver strong financial performance over the years. The company’s revenue and net profit have grown at a CAGR of 45% and 34%, respectively, during FY19–21.
The IPO size is 1,513 crore. Of which, the fresh issue is ₹1,060 crore. The funds will be used for the payment of outstanding purchase consideration to Glenmark Pharmaceuticals for the spin-off of the API business as well as funding capex and general corporate purpose. The remaining ₹453 crore will be the offer for sale.
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