IPO action next week: Four IPOs worth Rs 2,081-crore set to hit Dalal Street, 9 companies scheduled for their market debut

IPO News

• Four IPOs worth Rs 2,081-crore set to hit Dalal Street next week
• Nine companies to debut on bourses
• Shadowfax Technologies’ Rs 1,907-crore IPO to open on January 20
• Three SMEs- Digilogic Systems, KRM Ayurveda, Shayona Engineering to launch IPO next week
• Bharat Coking Coal, Amagi Media Labs to debut next week

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The primary market is unlikely to get disturbed by the current equity market volatility as four companies are set to launch their initial public offerings next week starting from January 19 including one from the mainboard segment.

The benchmark indices remained rangebound after recent correction, while the broader markets underperformed equity benchmarks with subdued performance this month.

Logistics solution provider Shadowfax Technologies is the only company from the mainboard segment, launching its Rs 1,907-crore initial public offering (IPO) on January 20 and closing on January 22 with price band of Rs 118-124 per share.

The technology-led third-party logistics company is raising Rs 1,000 crore by issuing fresh shares, while seven investors including Flipkart, NewQuest Asia, Qualcomm, and Mirae Asset will be selling Rs 907.2 crore worth shares via offer-for-sale.

Other three companies - Digilogic Systems, KRM Ayurveda, and Shayona Engineering - will be from the SME segment. Digilogic Systems that provides automated test and measurement solutions for defence, aerospace, and automotive industries is the first amongst them, aiming for Rs 81-crore fundraise via maiden public issue at the upper end of price band of Rs 98-104 per share.

Its IPO, which will open for public subscription during January 20-22, is a combination of fresh issuance of shares worth Rs 69.67 crore, and offer-for-sale of 10.89 lakh shares by promoter Madhusudhan Varma Jetty.

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KRM Ayurveda that operates network of hospitals and clinics aims to mobilise Rs 77.5 crore via IPO of 57.4 lakh shares during January 21-23. The price band for the offer has been fixed at Rs 128-135 per share.

Precision castings solutions provider Shayona Engineering will be the last company from the SME segment, launching public issue next week on January 22 with price band of Rs 140-144 per share. The offer will remain open till January 27. It targets to raise nearly Rs 15 crore via IPO of 10.32 lakh shares.

All the above four companies are targeting Rs 2,081-crore fundraise via IPOs.

Further, technical textile manufacturer Aritas Vinyl will close its Rs 38-crore public issue for subscription on January 20. It was opened on January 16 with price band of Rs 40-47 per share, subscribing 44 percent so far.

Security services provider Armour Security India's IPO will remain open till January 19. The offer was subscribed 52 percent since the opening on January 14.

Meanwhile, total nine new companies will be available for trading on the bourses next week including two - Bharat Coking Coal and Amagi Media Labs from the mainboard segment.

Bharat Coking Coal, the subsidiary of Coal India, closed its Rs 1,071-crore maiden public issue with 147 times subscription on January 13, and SaaS company Amagi Media Labs' IPO was subscribed 30.22 times.

Bharat Coking Coal IPO shares traded at a 57 percent premium, and Amagi Media Labs shares at around 5 percent premium in the grey market, the market observers said.

In the SME segment, Defrail Technologies, and Avana Electrosystems will list their shares on the BSE SME and NSE Emerge, respectively, on January 19, while the trading in Narmadesh Brass Industries, Indo SMC, and GRE Renew Enertech shares will commence on the BSE SME effective January 21.

Armour Security India shares will be available for trading on the NSE Emerge effective January 22, and Aritas Vinyl shares on the BSE SME effective January 23.