Dalal Street gears up for a busy primary market week as 5 IPOs, 5 listings line up

Primary Market Action this week

• Shadowfax Technologies to list on January 28
• Kasturi Metal Composite IPO to open on January 27
• Kanishk Aluminium India, Msafe Equipments, Accretion Nutraveda IPOs to hit Dalal Street on January 28

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The primary market action will remain slightly healthy in the current truncated week starting from January 27 with five initial public offerings (IPO) and five listings lined up on Dalal Street, though there is no new public issue scheduled in the mainboard segment.

All the five new SME IPOs worth little over Rs 226 crore are from the SME segment. Amongst them, steel fiber products maker Kasturi Metal Composite will be the first public issue to hit Dalal Street, opening on January 27 with price band of Rs 61-64 per share. The company is raising Rs 17.6 crore via offer of 27.52 lakh shares.

This follows Kanishk Aluminium India, Msafe Equipments, and Accretion Nutraveda IPOs which all are opening for public subscription on January 28.

Aluminium extrusion products manufacturer Kanishk Aluminium India aims to mobilise Rs 29.2 crore via public issue of 40 lakh shares at Rs 73 per share, while Msafe Equipments, the aluminium scaffolding manufacturer, targets for Rs 66.42 crore fund-raise vis initial share sale of 54 lakh shares at the upper end of price band of Rs 116-123 per share.

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Ayurvedic and nutraceutical products maker Accretion Nutraveda approached capital markets to raise Rs 24.8 crore via IPO of 19.2 lakh shares. The price band for the offer has been fixed at Rs 122-129 per share.

CKK Retail Mart, the distributor of agro-commodities and carbonated soft drinks, will open its Rs 88-crore public issue for subscription on January 30, with price band of Rs 155-163 per share.

Further, Hannah Joseph Hospital, and Shayona Engineering IPOs will remain open for subscription till January 27. Their subscription stood at 55 percent, and 1.34 times, respectively, in last two days since opening on January 22.

Meanwhile, five new companies will be available for trading on the bourses this week including Shadowfax Technologies - the only company from the mainboard segment.

Logistics solutions provider Shadowfax Technologies will list its shares on the BSE and NSE on January 28. The Rs 1,907-crore IPO was subscribed 2.72 times during January 20-22, while the market observers said it is not getting any premium in the grey market.

In the SME segment, Digilogic Systems will debut on the BSE SME and KRM Ayurveda on the NSE Emerge, effective January 28 and 29, respectively, while Hannah Joseph Hospital, and Shayona Engineering shares will be available for trading on the BSE SME effective January 30.