Primary Market Action: Five IPOs to hit Dalal Street, three companies set to debut this week

SME segment steals the spotlight as five companies launch IPOs this week; no new mainboard issues.

Investors will not see any new public issue from the mainboard segment, but all the action will be in the SME segment as five companies are set to launch their IPOs this week, starting from November 24.

These five companies are raising more than Rs 171 crore through their initial public offerings (IPOs).

SSMD Agrotech India, which is involved in the manufacturing, trading, and repacking of agro-food products, will be the first amongst them, opening its Rs 34-crore IPO on November 25 with a price band of Rs 114-121 per share. It has revised its opening date and price band for the IPO from November 24 and Rs 114-120 per share, respectively.

Gujarat-based B2B peanut butter manufacturer Mother Nutri Foods will open its Rs 39.6-crore public issue on November 26. It has a fixed price band for the offer at Rs 111-117 per share.

Garments and fabrics manufacturer K K Silk Mills is also set to launch its Rs 28.5-crore IPO on the same date, i.e., November 26, with a price band of Rs 36-38 per share.

Purple Wave Infocom and Exato Technologies will be the last IPOs amongst them in the SME segment, opening both on November 28.

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Digital enablement solutions provider Purple is raising Rs 31.45 crore at the upper end of the price band of Rs 120-126 per share, while Exato, a customer transformation partner, targets to mobilise Rs 37.45 crore via IPO, and set the price band at Rs 133-140 per share.

Meanwhile, Sudeep Pharma, which has opened its Rs 895-crore IPO on November 21, is set to close the same for subscription next week on November 25. The offer was subscribed 1.42 times on its day 1, i.e., November 21.

Listing

In the mainboard segment, Excelsoft Technologies, the global vertical SaaS company specialising in the learning and assessment market, will make its market debut on the BSE and NSE on November 26, followed by Sudeep Pharma on November 28. The Excelsoft IPO saw more than 43 times the subscription.

Gallard Steel will be the only company from the SME segment listing this week on November 26, after closing the IPO with over 349 times subscription last week.

Excelsoft Technologies IPO shares attracted more than 6 percent premium in the grey market, and Sudeep Pharma shares over 15 percent, while Gallard Steel shares garnered solid interest, trading at over 45 percent premium, the market observers said.

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