The primary market is gearing up for a significant surge this week. It features a notable lineup of upcoming IPOs and listings. Seven IPOs will hit Dalal Street this week, and 12 companies will make their debut on the bourses.
These seven companies, including 6 from the SME segment, are planning to raise Rs 2,765.87 crore through their initial share sale.
Let us explore the key details of these upcoming IPOs.
Market Indices Correct as Caution Mounts Ahead of General Elections
Meanwhile, the BSE Sensex and Nifty 50 benchmark indices each corrected by 3.7 percent from their record-high levels. The Nifty Midcap 100 and Smallcap 100 indices fell by 4.6 percent and 6.6 percent, respectively. The market appears to have turned cautious ahead of the scheduled general election results on June 4.
Go Digit General Insurance IPO
The insurance company is set to open its initial public offering for subscription on May 15, with a price band of Rs 258-272 per share. The offer will close on May 17.
- Go Digit IPO: Book built issue of Rs 2,614.65 crores
- Subscription opens: May 15, 2024
- Subscription closes: May 17, 2024
- Listing on BSE, NSE: Tentative listing date set as Thursday, May 23, 2024
- Price band: ₹258 to ₹272 per share
- Minimum lot size: 55 Shares
- Minimum investment for retail investors: ₹14,960
- Book Running Lead Managers: ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, Hdfc Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited
The rest of the six upcoming IPOs belong to the SME segment!
Veritaas Advertising IPO
The Rs 8.48-crore initial public offering of the advertising agency will hit Street on May 13, with a price band of Rs 109-114 per share.
- Veritaas Advertising IPO: Book built issue of Rs 8.48 crores
- Subscription opens: May 13, 2024
- Subscription closes: May 15, 2024
- Listing on NSE SME: Tentative listing date set as Tuesday, May 21, 2024
- IPO price band: ₹109 to ₹114 per share
- Minimum lot size: 1200 Shares
- Book Running Lead Manager: Horizon Management Private Limited
Mandeep Auto Industries IPO
The auto ancillary company is set to launch its Rs 25.25-crore maiden public issue for subscription on May 13, and the closing date will be May 15.
- Mandeep Auto Industries IPO: Fixed price issue of Rs 25.25 crores
- Subscription opens: May 13, 2024
- Subscription closes: May 15, 2024
- Listing on NSE SME: Tentative listing date set as Tuesday, May 21, 2024
- IPO price: ₹67 per share
- Minimum lot size: 2000 Shares
- Book Running Lead Manager: Jawa Capital Services Private Limited
Indian Emulsifier IPO
The speciality chemicals manufacturing company is also going to open its Rs 42.39-crore IPO on May 13, with a price band of Rs 125-132 per share.
- Indian Emulsifier IPO: Book built issue of Rs 42.39 crores
- Subscription opens: May 13, 2024
- Subscription closes: May 16, 2024
- Allotment finalization: Expected on Friday, May 17, 2024
- Listing on NSE SME: Tentative listing date set as Wednesday, May 22, 2024
- IPO price band: ₹125 to ₹132 per share
- Minimum lot size: 1000 Shares
- Book Running Lead Manager: Ekadrisht Capital Private Limited
Quest Laboratories IPO
The maiden public issue of the pharmaceutical company will be the fourth company in the SME segment to open for subscription on May 15. The book-built public issue will close on May 17.
- Quest Laboratories IPO: Book built issue of Rs 43.16 crores
- Subscription opens: May 15, 2024
- Subscription closes: May 17, 2024
- Allotment finalisation: Expected on Tuesday, May 21, 2024
- Listing on NSE SME: The tentative listing date set as Thursday, May 23, 2024
- IPO price band: ₹93 to ₹97 per share
- Minimum lot size: 1200 Shares
- Book Running Lead Manager: Shreni Shares Limited
HOAC Foods India IPO
The food products company, with 10 exclusive brand outlets, will launch its Rs 5.54-crore public issue on May 16. Investors can participate in the fixed-price issue until May 21.
- Hariom Atta & Spices IPO: Fixed price issue of Rs 5.54 crores
- Subscription opens: May 16, 2024
- Subscription closes: May 21, 2024
- Listing on NSE SME: The tentative listing date set as Friday, May 24, 2024
- IPO price: ₹48 per share
- Minimum lot size: 3000 Shares
- Book Running Lead Manager: GYR Capital Advisors Private Limited
Rulka Electricals IPO
The electrical and fire-fighting solutions company will also open its maiden public issue during the same period, i.e. May 16-May 21. The price band for the book-built issue has been fixed at Rs 223-235 per share.
- Rulka Electricals IPO: Book built issue of Rs 26.40 crores
- Subscription opens: May 16, 2024
- Subscription closes: May 21, 2024
- Listing on NSE SME: The tentative listing date set as Friday, May 24, 2024
- IPO price band: ₹223 to ₹235 per share
- Minimum lot size: 600 Shares
- Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd
IPOs Closing Next Week
A total of five companies will be closing their IPOs this week.
- Energy-Mission Machineries (India) will close its initial public offering on May 13.
- The final day for subscribing to Piotex Industries, Aztec Fluids & Machinery, and Premier Roadlines public issues will be May 14.
- ABS Marine Services is going to close its initial share sale on May 15.
Upcoming Listings This Week
This week, there are 12 upcoming IPO listings scheduled:
MainBoard Listings
- Indegene, a digital-led commercialisation services provider for the life sciences industry, to debut on bourses on May 13 with a Rs 1,841.76-crore IPO.
- TBO Tek, a travel distribution platform, and Aadhar Housing Finance, an affordable housing finance company, set to list shares on May 15.
Indegene IPO shares trading at over 60% premium, TBO Tek at over 50%, and Aadhar Housing Finance at over 20% in the grey market.
Nine listings in the SME segment this week:
- Winsol Engineers, Refractory Shapes, and Finelistings Technologies on May 14; Silkflex Polymers (India) and TGIF Agribusiness on May 15
- Energy-Mission Machineries (India) on May 16
- Piotex Industries and Aztec Fluids & Machinery on May 17; Premier Roadlines also on May 17.
Conclusion
The upcoming IPOs and listings signal a vibrant period in the primary market landscape. The substantial capital expected, coupled with the diverse range of companies going public, highlights the market’s potential for growth. However, it is necessary that investors research well before choosing to invest in any of the upcoming IPOs.
Source– moneycontrol.com
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