Josh 'Trade Agreement' for Public Issues

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Stock for 12-18 months. As the market is moving in the direction of correction, many companies have adopted a wait-and-see approach in coming to public issue. International uncertainty and uncertainty over the India-US trade deal have made it a challenge for them to come to a decision on the timing of the IPO. But now that the trade agreement between India and America is being implemented, analysts say that not only the stock market, but also the primary market has brought excitement. This week, two companies - iFinance and Fractal Analytics are gearing up for a public issue. Together, these two companies intend to raise a total of Rs.3,800 crore. However, it is noteworthy that these two companies have reduced their issue size as compared to what was announced earlier. 

The initial public offering (IPO) of micro-lending company iFinance will start on the 9th and end on the 11th. The company expects to raise Rs 1,010 crore through the proposed IPO. Meanwhile, when the draft documents were submitted in December, the issue size was pegged at Rs 1,450 crore. It said at that time that it will raise Rs.885 crore through fresh shares and Rs.565 crore through offer for sale. However, at present it has reduced the size of fresh issue of shares to Rs.710 crore and fund raising through OFS to Rs.300 crore. The issue price range is Rs.122-129.

Artificial intelligence and analytics firm Fractal Analytics' public issue will also start on the 9th and end on the 11th. It plans to raise Rs 2,834 crore through the IPO. The company also reduced its fund raising through fresh share issue from Rs 1,279 crore to Rs 1,024 crore. The value of shares to be sold in the OFS has also been reduced from Rs 3,621 crore to Rs 1,810 crore. The issue price range is Rs.857-900.