IPO Wave: Commtel Networks, Premier Industrial, and Shankesh Jewellers Set to Enter Market

Three companies, Commtel Networks, Premier Industrial Corporation, and Shankesh Jewellers, are gearing up for initial public offerings (IPOs) as they seek to raise funds for expansion and debt repayment.

According to the draft papers filed with the Securities and Exchange Board of India (SEBI), each IPO will comprise a mix of fresh equity shares and an offer for sale (OFS). Commtel Networks is targeting a Rs 900-crore IPO, with proceeds from the Rs 150-crore fresh issue mainly allocated towards alleviating debt.

Premier Industrial Corporation plans to use its IPO funds to establish a new wire manufacturing facility and expand its existing operations, while Shankesh Jewellers focuses on handcrafted gold jewellery, looking to channel funds towards repaying borrowings and bolstering working capital.

(With inputs from agencies.)