Primary market action: 10 IPOs to hit Dalal Street, 3 listings lined up next week

IPO Market Update for Next Week

The primary market is back to its busy schedule again as a total of 10 IPOs will hit Dalal Street, along with three companies scheduled for debut on the bourses next week, starting from July 21.

Both segments - mainboard and SME - will have an equal number of public issues, i.e., 5 each opening next week, including one REIT issue.

PropShare Titania, the second scheme of the Property Share Investment Trust REIT (real estate investment trust), will launch its Rs 473-crore initial public offering (IPO) for subscription on July 21. The price band for the offer, which closes on July 25, has been fixed at Rs 10-10.6 lakh crore.

The other four book-building issues in the mainboard section are from the equity segment. Workspace solutions provider Indiqube Spaces, and laptops & desktops refurbisher GNG Electronics will open their maiden public issues on July 23 and close on July 25.

Indiqube plans to raise Rs 700 crore and GNG Rs 460.4 crore at the upper price band. Coincidentally, both companies have fixed a similar price band of Rs 225-237 per share for their IPOs.

This follows hotel chain operator Brigade Hotel Ventures' Rs 759.6-crore initial share sale which will be launched on July 24. Gold jewellery maker Shanti Gold International's IPO, which consists solely of a fresh issue of 1.8 crore shares, will open for subscription on July 25. The price band for both offers is likely to be announced on Monday.

A similar kind of action will also be seen in the SME segment. EPC company Savy Infra & Logistics, and aluminum casting maker Swastika Castal will be the top two public issues amongst five, opening on July 21. Savy Infra aims to raise Rs 69.98 crore at the upper end of the price band of Rs 114-120 per share, and Swastika Castal Rs 14.07 crore at a price of Rs 65 per share.

Monarch Surveyors & Engineering Consultants, which provides consultancy services across infrastructure projects, is set to open its Rs 93.75-crore initial share sale on July 22, followed by TSC India's Rs 25.9-crore public issue launching on July 23. The former company has a fixed price band for its book-building issue at Rs 237-250 per share and later one at Rs 68-70 per share.

Patel Chem Specialities, which manufactures pharmaceutical excipients and specialty chemicals, will be the last SME company amongst five to launch Rs 58.8-crore IPO next week on July 25. The price band for the offer has been fixed at Rs 82-84 per share. Auto components maker Sellowrap will also open its IPO on the same day.

All these IPOs mentioned above, barring PropShare Titania, will have a three-day period for subscription.

Listings

The market participants will see only three companies listing their shares on the bourses, including one from the mainboard segment, which is Anthem Biosciences on July 21. Analysts expect the listing premium to be around 20-25 percent over the final issue price of Rs 570 per share, given the strong subscription of 63.86 times garnered by its IPO last week.

In the SME segment, Spunweb Nonwoven will also debut on the NSE Emerge effective July 21, followed by Monika Alcobev on the BSE SME on July 23. Their maiden public issues closed with 3.78 times and 233.35 times subscription, respectively.

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