The current week will be a busy one for Dalal Street. Given the optimistic sentiment with benchmark indices touching fresh record highs day after day, the primary market is also providing several investment opportunities for investors.
A total of seven companies will be opening their initial public offerings (IPOs) this week along with eight new listings.
Of the 7 IPOs, Popular Vehicles and Krystal Integrated are mainboard issues, while the four SME IPOs are Pratham EPC, Signoria Creation, Royal Sense Limited and AVP Infracon Limited IPO.
Mainboard IPOs
Krystal Integrated Services IPO
Facilities management services company Krystal Integrated Services' public issue will open for subscription on March 14. This would be the second public issue hitting Dalal Street this week, after Popular Vehicles & Services.
The IPO comprises a fresh issuance of equity shares worth Rs 175 crore, and an offer-for-sale (OFS) of 17.5 lakh equity shares by promoter Krystal Family Holdings. The anchor book, which is up to 60 percent of qualified institutional buyers, will be opened for a day on March 13, a day before the issue opening.
Also Read | KP Green Engineering, the biggest ever SME IPO, to hit Dalal Street on March 15
Popular Vehicles and Services IPO
The Kerala-based automobile dealer Popular Vehicles and Services' IPO will open for subscription on March 12. The company has set the price band at Rs 280-295 per share. The anchor bidding will open on March 11 and the issue will close on March 14. The finalisation of the basis of allotment will be on March 15.
The stock will be listed on exchanges on March 19. The IPO comprises a fresh issue of Rs 250 crore, and an offer-for-sale (OFS) of 11.92 million shares by private equity fund BanyanTree Growth Capital II LLC.
SME IPOs
KP Green Engineering IPO
The issue will open for subscription on March 15, 2024, and will close on March 19, 2024. The price band for the issue has been fixed at Rs 137 to Rs 144 per share. The minimum lot size for an application is 1,000 shares.
The company aims to raise Rs 189.50 crores through this IPO. The allotment for the KP Green Engineering IPO is expected to be finalized on March 20, 2024, with a tentative listing date fixed as March 22, 2024.
AVP Infracon IPO
Infrastructure construction company AVP Infracon will launch its initial public offering (IPO) on March 13. For the SME IPO which closes on March 16, the company has fixed the price band for the issue at Rs71 to Rs 75 per share.
The company plans to raise Rs 52.34 crore at the upper end of the price band from the book-built issue which is entirely a fresh issue of 69.79 lakh equity shares. The IPO allotment is expected to be finalized on March 18, 2024. The equity shares of AVP Infracon will be listed on the NSE Emerge platform with a tentative listing date fixed as March 20.
Also Read | SME Action: Sona Machinery IPO subscribed 254 times on final day
Pratham EPC Projects IPO
Pratham EPC Projects will launch its initial public offering (IPO) on March 11. The SME IPO will conclude on March 13. The integrated engineering, procurement, construction, and commissioning services provider has fixed the price band for the issue at Rs 71 to 75 per share. At the upper end of the price band, the company plans to raise Rs 36 crore from the offer which is entirely a fresh issue of 48 lakh equity shares.
Pratham EPC Projects IPO allotment is expected to be finalized on March 14, while the equity shares of Pratham EPC Projects will list on NSE SME with a tentative listing date fixed as March 18, 2024. The company plans to use the fresh issue proceeds for the purchase of machinery, meeting working capital requirements, and for general corporate purposes.
Signoria Creation IPO
Signoria Creation IPO will open for subscription on March 12 and will conclude on March 14. It is a book-built issue of Rs 9.28 crores and is entirely a fresh issue of 14.28 lakh shares. The issue is priced at Rs 61 to Rs 65 per share. The shares are proposed to be listed on NSE SME.
Founded in 2019, Signoria Creation Limited manufactures and sells women's clothing such as kurtis, pants, tops, co-ord sets, dupattas and gowns. The company has two manufacturing units, Unit I and Unit II, located in Mansarovar and Sanganer, Jaipur, Rajasthan.
Royal Sense IPO
Royal Sense IPO will open for subscription on March 12 and will close on March 14, 2024. It is a fixed price issue of Rs 9.86 crore comprising entirely a fresh issue of 14.5 lakh shares. The issue is priced at Rs 68 per share. The finalization of basis of allotment will be done on March 15, 2024, and the tentative date of listing is March 19, 2024.
Founded in 2023, Royal Sense offers Medical Equipment, Surgical Instruments, Surgical Consumables, Laboratory Equipment, Laboratory Reagents, Medical Disposables and Diagnostic Kits.
Also Read | Gopal Snacks IPO fully subscribed on second day of bidding, with retail, HNIs support
Listings
In the mainboard segment, Zinc oxide manufacturer JG Chemicals, Rajkot-based ethnic and western snacks maker Gopal Snacks, and RK Swamy are set to list on the bourses on March 13, March 14, and March 12, respectively.
On the SME segment front, there will be five listings including Pune E-Stock Broking, Shree Karni Fabcom, Koura Fine Diamond Jewelry, Sona Machinery, and V R Infraspace.
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