The week starting from May 13 is going to be super busy for the primary market with more action in the SME segment than the mainboard despite negative sentiment in the secondary market. A total of seven IPOs will hit Dalal Street this week with 12 companies making their debut on the bourses.
These seven companies are planning to raise Rs 2,765.87 crore through their initial share sale, including 6 from the SME segment.
Meanwhile, the benchmark indices - BSE Sensex and Nifty 50 corrected 3.7 percent each from their record high levels, while the Nifty Midcap 100 and Smallcap 100 indices fell 4.6 percent and 6.6 percent respectively. The market seems to have turned cautious ahead of the general election results scheduled on June 4, and the valuation concerns may also be weighing down the market sentiment.
Go Digit General Insurance IPO
The insurance company is set to open its initial public offering for subscription on May 15, with a price band of Rs 258-272 per share. The offer will close on May 17.
The Bengaluru-based firm intends to raise Rs 2,614.65 crore via IPO, which comprises a fresh issuance of shares worth Rs 1,125 crore, and an offer-for-sale (OFS) of 5.47 crore equity shares worth Rs 1,489.65 crore by the existing shareholders including promoter Go Digit Infoworks Services.
The Rs 8.48-crore initial public offering of the advertising agency will hit Street on May 13, with a price band of Rs 109-114 per share.
Veritaas already mobilised Rs 1.98 crore through anchor book ahead of IPO opening, i.e. on May 10.
The closing date for the issue will be May 15.
The auto ancillary company is set to launch its Rs 25.25-crore maiden public issue for subscription on May 13, and the closing date will be May 15.
It is a fixed price issue, with an offer price of Rs 67 per share.
The specialty chemicals manufacturing company is also going to open its Rs 42.39-crore IPO on May 13, with a price band of Rs 125-132 per share.
The public issue, which comprises only a fresh issue component, will remain open for four days till May 16.
The maiden public issue of the pharmaceutical company will be the fourth company in the SME segment to open for subscription on May 15. The book-built public issue will close on May 17.
The price band for the IPO has been fixed at Rs 93-97 per share. The Madhya Pradesh-based company aims to garner Rs 43.16 crore via an initial share sale of 44.49 lakh equity shares at the upper price band.
HOAC Foods India IPO
The food products company with 10 exclusive brand outlets is set to hit the street with its Rs 5.54-crore public issue on May 16. Investors can participate in the fixed price issue till May 21.
The issue price has been fixed at Rs 48 per share.
With a manufacturing facility in Gurugram, the company markets and sells flour, herbs & spices, unpolished pulses, grains, and yellow mustard oil in and around Delhi-NCR.
Rulka Electricals IPO
The electrical and fire-fighting solutions company will also open its maiden public issue during the same period i.e. May 16-May 21. The price band for the book-built issue has been fixed at Rs 223-235 per share.
The Mumbai-based company is planning to raise Rs 26.4 crore through its IPO of 11.23 lakh equity shares, at the upper price band. The IPO is a mix of a fresh issue of 8.42 lakh equity shares by the company and an offer-for-sale of 2.8 lakh equity shares by Abhay Kantilal Shah HUF.
IPOs Closing Next Week
A total of five companies will be closing their IPOs this week. Energy-Mission Machineries (India) will close its initial public offering on May 13, while the final day for subscribing to Piotex Industries, Aztec Fluids & Machinery, and Premier Roadlines public issues will be May 14.
ABS Marine Services is going to close its initial share sale on May 15.
Listings
Indegene, which provides digital-led commercialisation services for the life sciences industry, will debut on the bourses on May 13, after getting overwhelming response for the public issue. The Rs 1,841.76-crore IPO was subscribed 69.91 times.
Also read: Indegene Listing: Stock expected to list at 40-65% premium over IPO price on May 13
Travel distribution platform TBO Tek and affordable housing finance company Aadhar Housing Finance will also list their equity shares on the bourses next week on May 15. The IPO by TBO was subscribed 86.70 times, and Aadhar Housing Finance 25.49 times during May 8-10.
Ahead of listing, the Indegene IPO shares traded at more than 60 percent premium over the issue price of Rs 452 per share in the grey market, while TBO Tek shares were available at over 50 percent premium over the IPO price of Rs 920 per share, and Aadhar Housing Finance at more than 20 percent premium over the offer price of Rs 315 per share, the market observers said.
The grey market is an unofficial market for trading in IPO shares till the listing.
Meanwhile, in the SME segment, there will be nine listings lined up this week. Winsol Engineers, and Refractory Shapes will debut on the NSE Emerge, and Finelistings Technologies on the BSE SME on May 14, while Silkflex Polymers (India) will list its equity shares on the NSE Emerge on May 15, and TGIF Agribusiness on the BSE SME on the same date.
The trading in Energy-Mission Machineries (India) will commence on the NSE Emerge on May 16, while Piotex Industries and Aztec Fluids & Machinery will make their debut on the BSE SME on May 17. Premier Roadlines will also list its shares on the NSE Emerge on May 17.
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