This week, get ready for some action in the primary market! We’re seeing two exciting upcoming IPOs and eight new IPO listings, all happening amidst the ongoing elections. This marks a significant continuation of market momentum.
Let us explore the key details of these upcoming IPOs and the new listings!
Upcoming IPOs in the Indian Stock Market| Key Highlights
- Awfis Space Solutions targets around ₹599 crore, and GSM Foils has a fixed-price issue of ₹11.01 crore.
- Up to eight new listings expected on D-Street, including Go Digit General Insurance, indicating positive market sentiment.
- Awfis Space Solutions IPO opens for subscription on May 22, 2024, and closes on May 27, 2024, with a price band of ₹364 to ₹383 per share.
- GSM Foils IPO opens for subscription on May 24, 2024, with a fixed price of ₹32 per share.
- Rulka Electricals IPO will close on May 21, 2024, with a price band of ₹223 to ₹235 per share.
- Hariom Atta & Spices IPO will close on May 21, 2024, with a fixed price of ₹48 per share.
- New listings include Go Digit IPO, ABS Marine Services IPO, Veritaas Advertising IPO, Mandeep Auto Industries IPO, Indian Emulsifier IPO, Quest Laboratories IPO, and Hariom Atta & Spices IPO.
Mainboard Upcoming IPO- Awfis Space Solutions
This upcoming IPO comprises a book-built issue of ₹598.93 crores, including a fresh issue of 0.33 crore shares and an offer for sale of 1.23 crore shares. Established in 2014, Awfis Space Solutions provides flexible workspace options and ancillary services to various businesses.
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- The subscription for the IPO starts on May 22, 2024, and ends on May 27, 2024.
- The price range for each share is set at Rs 364-383.
- The Awfis Space Solutions plans to allocate funds towards setting up new centres and meeting working capital needs.
- Investors can bid for a minimum of 39 equity shares and in multiples thereof.
- ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd, and Emkay Global Financial Services Ltd are the book-running lead managers.
- The Awfis Space Solutions IPO may list on BSE and NSE on May 30, 2024.
SME Upcoming IPO- GSM Foils
GSM Foils Limited, established in April 2019, specialises in manufacturing Blister Foils and Aluminium Pharma Foils.
- The GSM Foils IPO, valued at Rs 11.01 crores, offers 34.4 lakh fresh shares at a fixed price.
- 1Subscription opens on May 24, 2024, and closes on May 28, 2024.
- The allotment is set for May 29, 2024, and listing on NSE SME is scheduled for May 31, 2024.
- Priced at ₹32 per share, the IPO requires a minimum application of 4000 shares, equating to an investment of ₹128,000 for retail investors.
- HNIs are required to invest in a minimum of 2 lots (8,000 shares), amounting to ₹256,000.
- Shreni Shares Limited acts as the book-running lead manager.
- Bigshare Services Pvt Ltd serves as the registrar. Shreni Shares is the market maker for the GSM Foils IPO.
IPOs Closing This Week
This week marks the closing of subscriptions for two SME IPOs.
Rulka Electricals IPO
The bidding for the Rulka Electricals IPO started on May 16, 2024, and will end on May 21, 2024. This SME IPO involves a book-built issue worth ₹26.40 crores. I
t comprises a fresh issuance of 8.42 lakh shares, totalling ₹19.80 crores, and an offer for sale of 2.81 lakh shares, amounting to ₹6.60 crores.
Hariom Atta & Spices IPO
The subscription for the Hariom Atta & Spices IPO began on May 16, 2024, and will conclude on May 21, 2024. This SME IPO is a fixed price issue valued at ₹5.54 crores, solely consisting of a fresh issuance of 11.55 lakh shares.
New IPO Listings
This week brings a wave of new IPOs, with 8 new companies gearing up for their market debuts.
- Go Digit IPO: The anticipated listing date on May 23, 2024.
- ABS Marine Services IPO: Listed on NSE SME on May 21, 2024.
- Veritaas Advertising IPO: Listed on NSE SME on May 21, 2024.
- Mandeep Auto Industries IPO: Listed on NSE SME on May 21, 2024.
- Indian Emulsifier IPO: The tentative listing date is May 22, 2024.
- Quest Laboratories IPO: The tentative listing date is May 23, 2024.
- Hariom Atta & Spices IPO: The provisional listing date is May 24, 2024.
- Rulka Electricals IPO: Provisional listing date on May 24, 2024.
- Go Digit IPO
They expect to finalise the allocation for the Go Digit IPO on Tuesday, May 21, 2024.
The IPO plans to list on the BSE and NSE and tentatively targets Thursday, May 23, 2024, as its listing date.
- ABS Marine Services IPO
They finished the allocation for the ABS Marine Services IPO on Thursday, May 16, 2024.
It will list on the NSE SME on May 21, 2024.
- Veritaas Advertising IPO
Veritaas Advertising Ltd. (VAL) offers 360-degree advertising services across various platforms, owning advertisement spaces in Guwahati, West Bengal, and Shillong. On Thursday, May 16, 2024, they finalised the allocation for Veritaas Advertising’s IPO.
It will list on the NSE SME on May 21, 2024.
- Mandeep Auto Industries IPO
MAIL manufactures and supplies sheet metal components, auto parts, sprocket gears, and machined components. Its customers include various industries, including tractors, automobiles, material handling & earth-moving equipment, railways, defence, and machine tools. They finalised the allocation for Mandeep Auto Industries’ IPO on Thursday, May 16, 2024.
It will list on the NSE SME on May 21, 2024.
- Indian Emulsifier IPO
IEL manufactures and supplies speciality chemicals such as Esters, Amphoterics, Wax Emulsions, SMO, etc. They determined the allocation for the Indian Emulsifier IPO on Friday, May 17, 2024. It will list on the NSE SME, with a tentative listing date of Wednesday, May 22, 2024.
- Quest Laboratories IPO
QLL manufactures pharmaceutical formulations covering a wide range of medications. This includes antimalarials, antibiotics, anti-inflammatories, respiratory medications, diabetes treatments, etc. They anticipate completing the allocation for the Quest Laboratories IPO by Tuesday, May 21, 2024.
It will list on NSE SME, with a tentative listing date of Thursday, May 23, 2024.
- Hariom Atta & Spices IPO
Incorporated in 2018, HOAC Foods India Limited manufactures flour, spice, and other food products under the brand name “HARIOM”. These products include flour (chakki atta), herbs & spices, unpolished pulses, grains, and yellow mustard oil.
They expect to determine the allocation for the Hariom Atta & Spices IPO by Wednesday, May 22, 2024.
It will list on NSE SME, with a provisional listing date of Friday, May 24, 2024.
- Rulka Electricals IPO will list on NSE SME, with a provisional listing date of Friday, May 24, 2024.
Conclusion
With IPOs lined up and market activity buzzing, these upcoming IPOs promise an eventful journey for investors. However, you must do proper research before investing in any IPO.
Source- moneycontrol.com, livemint.com
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.