With the secondary market at record high zone, the primary market is expected to be in full swing with the start of December month next week. Total 15 IPOs (initial public offering) are set to hit Dalal Street along with six companies scheduled for their market debut.
As per the offer details available in the public domain, the total fund raising by these 15 companies is more than Rs 7,000 crore including Rs 6,643 crore worth three offers in the mainboard segment.
In the mainboard segment, all three IPOs - Meesho, Aequs, and Vidya Wires - will have same schedule, opening for subscription on December 3 and closing on December 5.
SoftBank, and Elevation Capital-backed e-commerce platform Meesho is the largest IPO amongst these three companies, raising Rs 5,421 crore which is a combination of fresh issuance of shares worth Rs 4,250 crore, and an offer-for-sale of 10.55 crore shares by existing shareholders. The price band for the offer has been fixed at Rs 105-111 per share.
Aerospace parts maker Aequs aims to mobilise Rs 921.8 crore via public issue at the upper end of price band of Rs 118-124 per share. It is raising Rs 670 crore via fresh shares, while promoters and investors will be selling 2.03 crore equity shares worth Rs 251.8 crore via offer-for-sale.
Gujarat-based winding and conductivity products manufacturing company Vidya Wires is set to raise Rs 300 crore via maiden public issue which is a mix of fresh issue of Rs 274 crore, and an offer-for-sale (OFS) of 50.01 lakh shares amounting to Rs 26 crore. The price band is Rs 48-52 per share.
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Meanwhile, the SME segment will be busier than the mainboard section throughout the week with 12 IPOs worth more than Rs 400 crore scheduled for opening. The first day of December will have five public issues - Clear Secured Services, Speb Adhesives, Invicta Diagnostic, Ravelcare, and Astron Multigrain. All these offers will remain open till December 3.
Mumbai-based facility management services provider Clear Secured Services intends to raise Rs 85.6 crore with price band of Rs 125-132 per share, while solvent-based synthetic rubber adhesives maker Speb Adhesives targets to mop up Rs 33.7 crore via public issue with price band of Rs 52-56 per share.
Radiology and pathology services provider Invicta Diagnostic approached capital markets to raise Rs 28.1 crore, beauty and personal care products distributor Ravelcare Rs 24.1 crore, and noodles maker Astron Multigrain Rs 18.4 crore.
Invicta Diagnostic has fixed price band at Rs 80-85 per share, and Ravelcare Rs 123-130 per share, while the offer price for Astron Multigrain is Rs 63 per share.
This follows textile and garment washing auxiliaries maker Neochem Bio Solutions, and travel solutions provider Helloji Holidays IPOs worth Rs 45 crore, and 11 crore, which both will be launched on December 2 with price band of Rs 93-98 per share, and Rs 110-118 per share, respectively.
Precision stainless steel cold rolled strips manufacturer Shri Kanha Stainless will open its Rs 46.3-crore worth IPO with offer price of Rs 90 per share on December 3, followed by Luxury Time, and Western Overseas Study Abroad public issues on December 4, and Methodhub Software IPO on December 5.
Swiss luxury watches distributor Luxury Time aims to Rs 18.74 crore via initial share sale at the upper end of price band of Rs 78-82 per share, and educational and immigration advisory services provider Western Overseas Study Abroad to mop up over Rs 10 crore at Rs 56 per share.
Methodhub Software is raising Rs 87.5 crore by issuing fresh shares, while investor will be offloading 8 lakh shares via OFS. Encompass Design India will also open its Rs 40-crore IPO on December 5 with price band of Rs 101-107 per share.
Apart from 15 public issues, total six companies are scheduled for listing on the BSE SME next week with SSMD Agrotech India being the first on December 2, followed by Mother Nutri Foods, and K K Silk Mills on December 3.
After closing IPOs on December 2, Exato Technologies, Logiciel Solutions, and Purple Wave Infocom will list their shares in the same week on December 5.
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