Five IPOs gear up to debut on Dalal Street this week despite the bearish mood

IPOs Next Week

Investors are going to see five new initial public offerings opening for subscription this week starting from January 13. And this is despite the bears enjoying party at Dalal Street as the benchmark indices corrected more than 2 percent last week.

Laxmi Dental IPO

The first IPO opening on the first day of this week, i.e. January 13, will be Laxmi Dental. In fact, this is the only public issue from the mainboard segment. The dental products maker intends to raise Rs 698 crore via initial share sale which comprises of fresh issuance of equity shares worth Rs 138 crore, and an offer-for-sale of 1.3 crore shares worth Rs 560.06 crore.

The price band for the offer, which closes on January 15, has been fixed at Rs 407-428 per share. The company has already mobilised Rs 314.1 crore via anchor book on January 10, a day before the IPO opening.

Kabra Jewels IPO

The remainder four IPOs are from the SME segment and the first amongst them will be Ahmedabad-Kabra Jewels. The jewellery retailer will open its Rs 40-crore maiden public issue on January 15, with a price band of Rs 121-128 per share. The offer will close on January 17.

Rikhav Securities IPO

The Mumbai-based stock broker is also set to launch its Rs 89-crore IPO during the same period - January 15-17. The price band for the offer has been fixed at Rs 82-86 per share.

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The initial share sale is a combination of fresh issuance of shares worth Rs 71.62 crore, and an offer-for-sale of Rs 17.2 crore at the upper price band.

Landmark Immigration Consultants IPO

Landmark Immigration that offers global education consultancy for students to study overseas will be the third SME to open public issue this week on January 16 with a price band of Rs 70-72 per share. It plans to raise Rs 40.32 crore via entirely fresh issue. The offer will close on January 20.

EMA Partners India IPO

The last IPO this week will be from EMA Partners India, the executive search firm offering customized leadership hiring solutions. The company will hit Dalal Street with its Rs 76-crore maiden public issue on January 17 and will remain open till January 21.

The book built issue, which has a price band of Rs 117-124 per share, is a mix of fresh issuance of shares worth Rs 66.14 crore, and an offer-for-sale of 7.96 lakh shares worth Rs 9.87 crore.

IPOs Closing This Week

Ayurveda healthcare company Sat Kartar Shopping will close its Rs 34-crore IPO on January 14. It was subscribed 4.5 times on its first day of bidding.

Barflex Polyfilms, which manufactures COEX films, laminates, and labels, is also going to close subscription for its Rs 39-crore public issue on the same day. It was booked 1.19 times on January 10, the first day of bidding.

Both IPOs are from the SME segment.

Listings This Week

Meanwhile, a total of eight companies will make their debut on the bourses this week including three from the mainboard segment. Standard Glass Lining Technology that manufactures engineering equipment for pharmaceutical and chemical sectors will be the first listing from the mainboard segment scheduled on January 13, followed by Quadrant Future Tek, and Capital Infra Trust InvIT on January 14.

Standard Glass Lining Technology, as well as Quadrant Future Tek IPOs shares were available at around 50% premium over the upper price band in the grey market, the market observers.

Further, from the SME segment, Indobell Insulation will make a debut on January 13, while the trading in BR Goyal Infrastructure, Delta Autocorp, and Avax Apparels and Ornaments will commence effective January 14. Sat Kartar Shopping will be the last to list amongst them, on January 17.

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