The month of May for the primary market started off on a strong note as total nine IPOs are set to hit Dalal Street in the next week beginning from May 6, including three from the mainboard segment.
These nine companies are going to raise more than Rs 6,500 crore through their initial share sale.
Mainboard Segment
Indegene, which provides digital-led commercialisation of services for the life sciences industry, will be the first IPO in the current month, opening on May 6 with a price band of Rs 430-452 per share.
Also read: Indegene IPO: 10 things to know before subscribing to the Rs 1,841-crore issue
It intends to raise Rs 1,841.76 crore through its initial public offering which is a mix of a fresh issuance of shares worth Rs 760 crore, and an offer-for-sale (OFS) of 2.39 crore equity shares worth Rs 1,081.76 crore (at the upper price band) by individual selling shareholders and investors.
The issue will close on May 8.
Also read: Indegene IPO: Institutional investors invest Rs 549 crore via anchor book
The much-awaited IPO by the travel distribution platform will hit Dalal Street on May 8, with a fundraising size of Rs 1,551 crore at the upper price band. The subscription will close on May 10.
The IPO comprises a fresh issue of Rs 400 crore worth of shares and an OFS of 1.25 crore equity shares worth Rs 1,150.81 crore by promoters and investors. The price band for the issue has been fixed at Rs 875-920 per share.
Finally, the affordable housing finance company is going to come out with its initial public offering on May 8 and closing on May 10, as it was a long-awaited IPO.
Bengaluru-based Aadhar Housing Finance has revised its public issue size to Rs 3,000 crore at the time of filing its red herring prospectus, from Rs 5,000 crore mentioned in the DRHP. It is a mix of fresh issues of Rs 1,000 crore, and OFS of Rs 2,000 crore by promoter BCP Topco VII Pte, an affiliate of Blackstone Group.
The price band for the IPO is Rs 300-315 per share.
SME Segment
The company, providing engineering, procurement, construction, and commissioning services for balance of plant solutions for both solar and wind power generation firms, will open its Rs 23.36-crore IPO on May 6 till May 9. The price band for the offer has been fixed at Rs 71-75 per share.
The bricks, castables, high alumina catalysts, and ceramic balls manufacturing company will also open its maiden public issue on May 6 and close on May 9, with a price band of Rs 27-31 per share.
It aims to raise Rs 18.6 crore via IPO at the upper price band, comprising only a fresh issue of 60 lakh equity shares.
The Rs 13.53-crore public issue by Finelistings, the retailer of used luxury cars and provider of software development services, will open for subscription on May 7, with a price of Rs 123 per share.
The fixed price issue, consisting of only a fresh issue component, will close on May 9.
The textile printing inks and water-based wood coating polymers trader is also set to open its Rs 18.11-crore IPO on May 7. This fixed price issue will remain open for four days till May 10.
The issue price has been fixed at Rs 52 per share.
TGIF, which is engaged in open field cultivation of fruit and vegetables, is also ready to hit Dalal Street with its Rs 6.39-crore initial share sale on May 8. It is also a fixed-price issue, closing on May 10.
The price for the public issue is Rs 93 per share.
Energy-Mission Machineries India IPO
The Ahmedabad-based company that manufactures metal forming machines for industrial metal fabrication will also open its Rs 41.15-crore IPO in the coming week on May 9, with a price band at Rs 131-138 per share.
The public issue, which comprises only a fresh issue of 29.82 lakh shares, will close on May 13.
Listings
All four listings, taking place in the coming week, will be from the SME segment only. Storage Technologies and Automation, Sai Swami Metals & Alloys, and Amkay Products will debut on the BSE SME on May 8, while the trading in Slone Infosystems IPO shares will commence on the NSE Emerge with effect from May 10.
In the grey market, all of them attracted great interest with Storage Technologies and Automation IPO shares trading at more than 50 percent premium over the issue price of Rs 78 per share, Sai Swami Metals & Alloys IPO shares at 80 percent premium over the offer price of Rs 60 per share, the market observers said.
Further, according to them, Amkay Products shares were available at around 105 percent premium over the IPO price of Rs 55 per share, and Slone Infosystems IPO shares traded at nearly 70 percent premium over the issue price of Rs 79 per share.
The grey market is an unofficial platform for trading in IPO shares till the listing.
In fact, all these IPOs had a strong subscription with Storage Technologies and Automation public issue subscribing 258.61 times, Sai Swami Metals & Alloys 515.93 times, and Amkay Products 693.44 times on the final day, i.e. May 3.
The Slone Infosystems IPO recorded 19.07 times subscription on May 3, the first day of bidding.
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