The recent consolidation in the equity market seems to have dampened the primary market mood as the mainboard segment will remain silent for the second consecutive week starting from May 12, though the action continues in the SME part.
Civil contractor Integrity Infrabuild Developers will open its Rs 12-crore IPO for public subscription on May 13. The issue price has been fixed at Rs 100 per share.
The Gujarat-based company intends to utilise IPO proceeds for purchase of machinery and equipment, working capital requirements, and general corporate purpose. The offer will close on May 15.
The second SME public issue will be Accretion Pharmaceuticals which is scheduled to be launched on May 14 and closing on May 16. It plans to raise Rs 29.75 crore via IPO at the upper end of price band of Rs 96-101 per share.
The pharmaceutical company is going to utilise fresh issue proceeds for purchase of new equipment/ machineries, upgradation of existing manufacturing facility, and working capital requirements. Further, the funds will also be used for repaying debt, and general corporate purpose.
Software solutions provider Virtual Galaxy Infotech will close its Rs 93.29-crore IPO on May 14. The issue was subscribed 63 percent on its first day of opening.
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Meanwhile, the trading in Manoj Jewellers, and Srigee DLM shares will commence on the BSE SME effective May 12.
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