The IPO trail in the Indian Markets is here to stay and it is evident with the rising number of IPOs launching every week. This week, there are 11 upcoming IPOs, which will keep the primary market on its toes, while 14 new company launched their IPOs in the previous weeks and will make their debut on the stock exchanges this week. This will keep the entire stock market busy and overwhelmed right before the festivities kick in.
If you are wondering how there are so many IPOs launching every week, then you need to look at the SME segment IPOs, which are primarily keeping the rush going. Even this week, out of the 11 upcoming IPOs there are nine from the SME segment, while only two are mainboard ipos.
Upcoming Mainboard IPOs This Week
- Manba Finance IPO: This financial service company is coming up with its IPO on 23 September, and it will be on until 25 September for subscription. This ₹ 150.84 crore IPO is going to be a book-built IPO in which only fresh 1.26 crore shares will be issued. The price band set for this IPO is between ₹ 114 and ₹ 120 each share.
- KRN Heat Exchanger IPO: The second mainboard IPO is the KRN Heat Exchanger IPO, which is the biggest issue this week. This IPO is looking to raise around ₹ 341.95 crore from its book-built issue which will again contain only 1.55 crore fresh equity shares. The price band set for the IPO is between ₹ 209 and ₹ 220 per share. The subscription will open on 25 September and run until 27 September.
Upcoming SME IPOs This Week
- Rappid Valves (India) IPO: The first SME segment IPO of this week is the Rappid Valves (India) IPO which will open from 23 September and carry on until 25 of the month. The company is looking to raise around ₹ 30.41 via the issue of 13.7 lakh fresh equity shares with a price band of ₹ 210 to ₹ 222 per share.
- WOL 3D IPO: Another SME IPO to open on 23 September and run until 25 September is the WOL 3D IPO. This firm is looking to raise ₹ 25.56 crore through a book-built issue which will include both a fresh equity issue and an offer for sale (OFS). Rs. 21.78 crores will be raised by issuing 14.52 lakh equity shares while the remaining ₹ 3.78 crore will be raised from 2.52 lakh shares through OFS. The price band of this IPO has been set between ₹ 142 and ₹ 150 per share.
- Thinking Hats Entertainment Solutions IPO: This SME will launch its IPO for subscription on 25 September and it will run until the 27th. The IPO is to raise ₹ 15.09 crore from 34.29 lakh fresh equity share issues with the price band decided between ₹ 42 and ₹ 44 for each share.
- Unilex Colours and Chemicals IPO: This SME segment ipo will be open for subscription from 25 to 27 September. The chemical manufacturer will be issuing 36 lakh shares with the price band of ₹ 82 to ₹ 87 per share for raising ₹ 31.32 crore from the issue.
- TechEra Engineering IPO: This is another fresh equity issue where 43.78 lakh shares will be offered for subscription on 25 September, and one can subscribe to it until 27 September. The target capital that the company wants to raise is around ₹ 35.90 crore and the price band set to achieve this target is between ₹ 75 and ₹ 82 per share.
- Forge Auto International IPO: This automobile SME is eyeing to raise ₹ 31.10 crore from the entire fresh equity share issue IPO of 28.8 lakh shares. The IPO will be open from 26 to 30 September for subscription and the price band set for the fresh issue is Rs 102 to ₹ 108 apiece.
- Sahasra Electronics Solutions IPO: This IPO will open on 26 September as well and you can subscribe to it until 30 September. The SME will be eyeing ₹ 186.16 crore from the fresh issue of 60.78 lakh shares which will be worth ₹ 172.01 crore and OFS of 5 lakh shares amounting to ₹ 14.15 crore. The price band set for the IPO is between ₹ 269 and ₹ 283 per share.
- Divyadhan Recycling Industries IPO: By issuing 37.76 lakh fresh equity shares, this Recycling firm is looking to raise around ₹ 24.17 crore. The IPO’s price band has been set at ₹ 60 to ₹ 64 per share and it will be open for subscription on 26 September and run until 30 September.
- Saj Hotels IPO: The final IPO of this week will be of Saj Hotels, which will be launched on 27 September and run until 1 October. This issue will be completely a fresh equity issue of 42.5 lakh shares and since it is a fixed-price issue, the price determined for each share is ₹ 65.
New Listings This Week
| Stocks | Listing Date | Stock Exchange/s |
| Wester Carriers (India) | 24 September | BSE, NSE |
| Arkade Developers | 24 September | BSE, NSE |
| Northern Arc Capital | 24 September | BSE, NSE |
| Popular Foundations | 24 September | BSE SME |
| Deccan Transcon | 24 September | NSE SME |
| Envirotech Systems | 24 September | NSE SME |
| Pelatro | 24 September | NSE SME |
| Osel Devices | 24 September | NSE SME |
| Paramount Speciality Forgings | 25 September | NSE SME |
| Kalana Ispat | 26 September | NSE SME |
| Avi Ansh Textile | 27 September | NSE SME |
| Phoenix Overseas | 27 September | NSE SME |
| SD Retail | 27 September | NSE SME |
| BikeWo GreenTech | 27 September | NSE SME |
Wrapping Up
With all the new listings and upcoming IPOs, the market will be overwhelmed. However, before making any investment decision, check all the details of the IPOs, and the issuing company. While September will end with these IPOs scheduled this week, October will have a plethora of options too as it seems.
Source: Mint
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