It will be a busy week for the market as four initial public offerings (IPOs) open for subscription, while six companies make their debut on stock exchanges over the next five days.
The IPO of Utkarsh Small Finance Bank, the only mainboard offering, will open for subscription on July 12 in a price band of Rs 23-25 per share. The Rs 500-crore offer closes on July 14.
Its anchor book, meant for qualified institutional buyers (QIBs), will open for a day on July 11. The bank has reserved up to 75 percent of the offer size for QIBs, 15 percent for high-networth individuals and the remaining 10 percent for retail investors.
The offer is only a fresh issue. The proceeds will be used to augment Tier - 1 capital base to meet future capital requirements, the company has said.
The remaining three IPOs are from small and medium enterprises (SMEs) segment. After raising over Rs 6 crore through the anchor book on July 7, polymer-based profiles manufacturer Kaka Industries’ offer will open for bidding on July 10.
The company is looking to raise Rs 21.23 crore in a price band of Rs 55-58 a share. The offer, which is a gain a fresh issue, closes July 12.
Solar energy solutions provider Ahasolar Technologies’ Rs 12.85-crore fixed-price IPO, too, opens July 10. The issue price has been fixed at Rs 157 a share and the offer closes on July 13.
The IPO of staffing and outsourcing services provider Service Care opens July 14 and closes July 18. The issue price for 30.86-lakh shares IPO is yet to be finalised.
The public offerings of drone training provider Drone Destination, which opened on July 7, and digital technology services company AccelerateBS, the bidding for which began a day earlier, will close on July 13 and July 11.
Also read: NSDL files draft papers to float public issue; IDBI Bank, NSE, SBI to dilute holdings
Listings
Electronics manufacturing services and solutions provider Cyient DLM is set to make its market debut on July 10. Its final issue price has been fixed at Rs 265 a share.
Experts expect a bumper listing for Cyient DLM. Its shares are available at around 50 percent premium over the issue price in the grey market, analysts said on condition of anonymity. The grey market is an unofficial market where shares are bought and sold till the listing day. It is normally tracked to get an idea of the listing price.
Kolkata-based jewellery retailer Senco Gold lists on July 14. In the grey market, it was trading at 35 percent premium to the expected final issue price of Rs 317 a share.
In the SME segment, there will be four listings. PET stretch blow moulding machines maker Global Pet Industries will be the first to make the market debut, on July 10.
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Technology companies Synoptics Technologies and Tridhya Tech will list on July 13, while industrial and institutional storage systems maker Alphalogic Industries will debut a day later.
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