Three IPOs, one deadline: 68 percent of September's issue money is going to the companies
Steamhouse, Manika Plastech and Hero Motors are raising about INR 1,540 crore between them before a 30 September cut-off. Just over two-thirds is fresh issue.
Capital markets
Hero Motors seeks 73 times earnings on a three-year average return on net worth of 7.58 percent
Hero Motors opens on 16 September at INR 79 to 84 a share, valuing it at INR 3,815 crore. Its fresh issue is down a quarter from its last draft.
Two IPOs open this week with 83 percent of the money going to the companies
Steamhouse India and Manika Plastech open within three days of each other. Between them, INR 445 crore of the INR 540 crore sought is fresh issue, an unusual split for a September window.