IPO frenzy: 14 public issues set to open next week, 12 listings scheduled

IPO Market Week Ahead

The week ahead, starting from July 28, is set to be the busiest one for the IPO market in a long time, as a total of 14 public issues will hit Dalal Street, including five from the mainboard segment, along with 12 companies scheduled for market debut.

These 14 companies are aimed for fund raising more than Rs 7,300 crore, including Rs 7,008 crore by the mainboard IPOs.

Initial public offerings of MSME lender Laxmi India Finance and video security & surveillance products maker Aditya Infotech will be the first, from the mainboard segment, to open for subscription next week on July 29.

Non-banking finance company Laxmi India Finance has fixed a price band at Rs 150-158 per share for its Rs 254-crore initial share sale, while Aditya Infotech, which operates business under the brand CP Plus, plans to raise Rs 1,300 crore via IPO at the upper end of the price band of Rs 640-675 per share.

This follows the much-awaited National Securities Depository - NSDL IPO, and the Rs 792-crore public issue of Mumbai-based real estate firm Sri Lotus Developers & Realty, opening on July 30 with a price band of Rs 760-800 per share, and Rs 140-150 apiece, respectively.

IDBI Bank, National Stock Exchange, and UTI-promoted market infrastructure institution NSDL target to mobilise Rs 4,011.60 crore via IPO, which is entirely an offer-for-sale.

Ahmedabad-based pre-engineered buildings and self-supported roofing solutions provider M&B Engineering will also launch its Rs 650-crore IPO for public subscription on July 30, with a price band of Rs 366-385 per share.

In the SME segment, investors will see 9 public issues with Rajkot-based smartphones retailer Umiya Mobile, and warehousing & logistics company Repono being the first amongst them to hit Dalal Street next week on July 28. The former plans to raise Rs 24.88 crore via a fixed price issue, and the latter one Rs 26.68 crore via a book-building issue.

This follows the Rs 69.81-crore IPO of Punjab-based Kaytex Fabrics, the fabrics supplier, opening on July 29.

On July 30, three maiden public issues -- Takyon Networks' Rs 20.5-crore worth IPO, Mehul Colours' Rs 21.66-crore, and B D Industries Pune's Rs 45.36-crore -- will be available for public subscription.

Masterbatches and polymer solutions provider Renol Polychem, and OOH advertising firm Cash Ur Drive Marketing will be the next to launch IPOs, scheduled for opening on July 31. The former is raising Rs 25.77 crore, and the latter Rs 60.79 crore.

The last public issue in the SME segment next week will be from Flysbs Aviation, opening on August 1.

All the above-mentioned 14 IPOs will have a three-day subscription period.

Apart from this, IPOs like Brigade Hotel Ventures and Shanti Gold International, which launched last week, will close on July 28 and 29, respectively, while in the SME segment, Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries public issues launched on July 25 will remain open till July 29.

Next week, there will be a total of 12 companies scheduled for listing. As per the tentative schedule published by companies at the time of filing RHP, Indiqube Spaces, and GNG Electronics will be the first from the mainboard segment to debut on the bourses effective July 30, while Brigade Hotel Ventures and Shanti Gold International shares will be available for trading on the BSE and NSE effective July 31 and August 1, respectively.

Amongst them, GNG Electronics IPO shares traded at around 40 percent premium and Shanti Gold International shares at around 19 percent premium in the grey market, while Indiqube Spaces and Brigade Hotel Ventures shares saw a tepid response, trading with around 2 percent and 4-5 percent premium, respectively, the market observers told Moneycontrol.

Furthermore, the remainder 8 listings will be from the SME segment, including Savy Infra & Logistics, and Swastika Castal, which are scheduled for debut on July 28, followed by Monarch Surveyors & Engineering Consultants on July 29, and TSC India on July 30.

The trading in Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries shares will commence on the bourses, August 1.