Navkar Corp's Rs 600-crore IPO to open on Aug 24

Logistics company Navkar Corp will launch its initial public offer (IPO) on August 24 to raise Rs 600 crore.
The bidding will close on August 26. With this issue, Navkar Corporation will be the 11th company to hit the capital markets this year.
Besides, infrastructure firm Dilip Buildcon and Prabhat Dairy, an integrated milk and dairy products company, are also expected to hit the capital markets this month, while Power Mech has already launched its IPO in August.
Maharashtra-based Navkar Corp would mobilise up to Rs 510 crore by issuing fresh equity shares and rake in up to Rs 90 crore through sale of existing shares.

The funds would be used for capacity enhancement of the Somathane container freight station (CFS), development of the non-notified areas of CFSs and establishment of a logistics park at Valsad in Gujarat.
The issue is being managed by Axis Capital, SBI Capital Markets and Edelweiss Financial Services.

After a quiet 2014, IPO market is buzzing again as 10 IPOs have already hit the market this year and many others in the pipeline, including popular brands like IndiGo, Cafe Coffee Day and Matrix.
These 10 firms have raised nearly Rs 4,700 crore via crore through IPOs, higher than funds raised in the preceding two years.

A total of six IPOs had hit the market in 2014 and together garnered just Rs 1,261 crore, while in 2013, three companies raked in Rs 1,284 crore through initial share plans.