Primary market action: 10 IPOs set to debut on Dalal Street; 8 new listings to trade next week

In the mainboard segment, a total of five companies will be listing on the bourses next week.

The primary market will have a busy schedule next week despite being a holiday-shortened week starting from August 25, as a total of 10 public issues worth Rs 1,240 crore will hit Dalal Street with eight new companies available for trading on the bourses.

Of the total 10 IPOs, two initial public offerings (IPO) - Vikran Engineering and Anlon Healthcare, worth Rs 893 crore, will be from the mainboard segment. Both will open for public subscription on August 26 and close on August 29.

Vikran Engineering, the power transmission and water infrastructure services provider, aims to raise Rs 772 crore through its IPO, and Anlon Healthcare, the pharma intermediates and active pharmaceutical ingredients manufacturer, plans to mobilise Rs 121 crore via public issue. The price band for the former offer has been fixed at Rs 92-97 per share, and later at Rs 86-91 per share.

The major action will be seen in the SME segment, with a total of eight IPOs being launched. Notably, NIS Management and Globtier Infotech will be the first to open on August 25 and close on August 28.

Security and facility management services provider NIS Management is raising Rs 60 crore at the upper end of the price band of Rs 105-111 per share, while IT solutions company Globtier Infotech intends to mobilise Rs 31 crore at Rs 72 per share as it is a fixed price issue.

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Furthermore, water infrastructure and wastewater management solutions provider Sattva Engineering Construction, along with EPC company Current Infraprojects, will be the next IPOs in the SME segment, launching on August 26 with a price band of Rs 70-75 per share and Rs 76-80 per share.

Sattva Engineering targets to raise Rs 35.4 crore via IPO, and Current Infraprojects targets Rs 41.8 crore.

Oval Projects Engineering, which focusses on upstream, midstream, and downstream facility development activities in the oil & gas sectors plans to mop up Rs 46.74 crore via initial share sale of 54.99 lakh shares during August 28-September 1. The price band for the offer has been fixed at Rs 80-85 per share.

On the final day of next week, i.e., August 29, there will be three IPOs - Sugs Lloyd, Abril Paper Tech, and Snehaa Organics opening for subscription.

Power infrastructure services provider Sugs Lloyd is raising Rs 85.66 crore at the upper end of the price band of Rs 117-123 per share. Abril Paper Tech intends to mobilise Rs 13.42 crore at Rs 61 per share, while Snehaa Organics, which operates in the solvent recovery and recycling sector, is set to mop up Rs 32.68 crore and has fixed the price band at Rs 115-122 per share.

Indian equity markets will remain shut on August 27 for Ganesh Chaturthi.

Meanwhile, ARC Insulation & Insulators will close its IPO on August 25. This follows Classic Electrodes (India), Shivashrit Foods, and Anondita Medicare, for which the subscription will close on August 26.

Listings

In the mainboard segment, a total of five companies will be listing on the bourses next week. Amongst them, Patel Retail, Vikram Solar, Gem Aromatics, and Shreeji Shipping Global will debut on August 26, followed by Mangal Electrical Industries on August 28.

Patel Retail, Vikram Solar, Shreeji Shipping Global, and Gem Aromatics shares traded in the 9-20 percent range in the grey market, while Mangal Electrical attracted a muted premium, the market observers said. The grey market is an unofficial market for trading in IPO shares till the listing on the bourses.

Studio LSD, from the SME segment, is scheduled for listing on August 25, followed by LGT Business Connextions on August 26, and ARC Insulation & Insulators on August 29.

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