IPO Action: Four IPOs worth over Rs 6,600 crore to open for subscription; four stocks to debut next week

Stainless-steel products maker Rajputana Stainless will be the first IPO worth Rs 255 crore from the mainboard segment opening on March 9, with a price band at Rs 116-122 per share

• Four IPOs worth over Rs 6,600 crore to open for subscription next week
• Four new stocks to make market debut next week
• Raajmarg Infra Investment Trust's Rs 6,000-crore IPO to open on March 11

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The persistent flow of IPOs indicated that the geopolitical tensions in the Middle East and rising oil prices has not been impacting the primary market though severely hurting the secondary markets. Four public issues will be opened next week starting from March 9, along with four new companies available for trading on the bourses.

The total fund raising by these four new initial public offerings (IPO) will be more than Rs 6,600 crore including three from the mainboard segment.

Stainless-steel products maker Rajputana Stainless will be the first IPO worth Rs 255 crore from the mainboard segment opening on March 9, with a price band at Rs 116-122 per share. The public issue consisting fresh issue of 1.46 crore shares worth Rs 178.7 crore and an offer-for-sale of 62.5 lakh shares worth Rs 76.25 crore will close on March 11.

This follows Innovision - the manpower services and toll plaza management provider, which will open its Rs 323-crore maiden public issue on March 10 with price band of Rs 521-548 per share. The offer will close on March 12, comprising fresh issuance of shares amounting to Rs 255 crore, and an offer-for-sale of 12.38 lakh shares worth Rs 67.84 crore by existing shareholders.

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Infrastructure investment trust Raajmarg Infra Investment Trust's Rs 6,000-crore IPO will also be available for public subscription next week on March 11. The price band for the offer, which closes on March 13, has been fixed at Rs 99-100 per unit.

In the SME segment, Apsis Aerocom, the precision engineering components maker catering to the aerospace, defence, and healthcare industries, will open its Rs 35.77-crore maiden public issue on March 11 and close on March 13, with price band of Rs 104-110 per share.

Elfin Agro India closed its IPO on March 9, followed by Srinibas Pradhan Constructions on March 10, which were subscribed 1.02 times and 8 percent so far, respectively.

On the listing front, four new companies will be available for trading on the bourses including Sedemac Mechatronics from the mainboard segment scheduled for listing on March 11. The Rs 1,087-crore offer was subscribed 2.68 times last week, while the market observers told Moneycontrol that its IPO shares traded at a moderate premium in the grey market.

In the SME segment, Acetech E-Commerce will make its market debut on the NSE Emerge on March 9, followed by Elfin Agro India on the BSE SME on March 12, and Srinibas Pradhan Constructions on March 13 on the NSE Emerge.