The week ahead starting from August 26 will be action-packed for the primary market as total nine IPOs will be opening for subscription and eight new companies will debut on the bourses, with positive sentiments in the secondary market.
The total fund raising by companies launching IPOs next week will be more than Rs 4,000 crore excluding the Baazar Style Retail's offer-for-sale portion as its price band has not announced.
The South Asia Growth Fund-backed solar cell and solar module manufacturer will be the first IPO from the mainboard segment to hit Dalal Street next week on August 27, with a price band at Rs 427-450 per share. The Rs 2,830.40-crore IPO is a combination of fresh issuance of equity shares worth Rs 1,291.4 crore and an offer-for-sale (OFS) of shares worth Rs 1,539 crore by promoter Chiranjeev Singh Saluja, and investors South Asia Growth Fund II Holdings LLC and South Asia EBT Trust. The issue will close on August 29.
ECOS India Mobility & Hospitality IPO
The chauffeur driven car rental service provider will launch its Rs 601.2-crore IPO on August 28, with a price band at Rs 318-334 per share. The issue comprises of only an OFS of 1.8 crore shares worth Rs 601.2 crore by promoters Rajesh Loomba, and Aditya Loomba, with no fresh issue component. The public issue will close on August 30.
The much-awaited initial public offering of Baazar Style Retail, which is backed by Rekha Rakesh Jhunjhunwala, will open for subscription on August 30. The company will announce its price band on Monday.
The IPO is a combination of fresh issue of up to Rs 148 crore, and an OFS of 1,76,52,320 equity shares by the existing shareholders including Rekha Rakesh Jhunjhunwala, and Intensive Softshare. The last day for bidding the issue will be September 3.
This will be the first maiden public issue from the SME segment in the coming week, opening on August 26 and closing on August 29, with a price band at Rs 94-99 per share. The company that produces Linear Alkylbenzene Sulphonic Acid LABSA 90% which is used in the formulation of all types of detergent powders, cakes, toilet cleaners and liquid detergents, intends to raise Rs 67.36 crore via public issue of 68.04 lakh shares at the upper price band.
The company that manufactures electrical laminations, slit coils, and assembled cores made of cold rolled grain oriented silicon steel and cold-rolled non-grain oriented steel for applications in transformers, UPS, and inverters is set to open its Rs 89-crore maiden public issue on August 27. The price band for the issue, which closes on August 29, has been fixed at Rs 138-146 per share. The book built IPO is a mix of fresh issue of 45.7 lakh shares worth Rs 66.72 crore, and an OFS of 15.23 lakh shares worth Rs 22.24 crore.
The electrical and automation solution provider targets to raise Rs 18.08 crore via public issue of 16.14 lakh equity shares, at a price of Rs 112 per share. The fixed price issue will open on August 27 and close on August 29.
The company that offers software applications and technology solutions will launch its Rs 33.84-crore initial public offering on August 27. It intends to mobilise Rs 30.35 crore via fresh issue of 27.58 lakh shares and Rs 3.5 crore through an offer-for-sale of 3.18 lakh shares, at a price of Rs 110 per share.
The Ahmedabad-based glass fibre reinforced polymer products manufacturer will open its maiden public issue for subscription on August 28, with a price band at Rs 121-125 per share. It targets to raise Rs 56.10 crore via solely fresh issue of 44.88 lakh shares at the upper price band. The issue will close on August 30.
The Rs 168.5-crore public issue of the MDF and HDF boards as well as pre-laminated boards maker will be opening on August 30, with a price band of Rs 257-270 per share. The book built issue comprises of solely fresh issue of 62.4 lakh equity shares, closing on September 3. This is one of the largest IPOs in the SME segment.
Listings
In the mainboard segment, Interarch Building Products will list its equity shares on the BSE and NSE on August 26, while the trading in Orient Technologies shares will commence effective August 28.
Interarch Building Products as well as Orient Technologies' IPOs shares were available at around 35-40 percent premium over the upper price band, in the grey market, the market observers said.
Further, from the SME segment, Forcas Studio, and Brace Port Logistics will make their debut on the NSE Emerge on August 26, while Ideal Technoplast Industries, and QVC Exports will list their shares on the NSE Emerge on August 28.
The trading in Resourceful Automobile, and Rapid Multimodal Logistics shares will commence on the BSE SME effective August 29, and August 30, respectively.
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