Primary market action: Investors to see 10 new IPOs with 7 listings lined up this week

IPO Market Action this week

The primary market has seen persistent flow of IPOs despite consolidation in the secondary market. In the current week starting September 8, investors will see 10 new public issues for subscription along with seven stocks scheduled for their market debut.

Of the 10 IPOs, three offers worth Rs 2,444 crore will be from the mainboard segment including Urban Company. All these three initial public offerings will open in September 10 and close on September 12.

Urban Company, the home and beauty services provider platform, is raising Rs 1,900 crore through its initial share sale, consisting fresh issuance of shares worth Rs 472 crore, and an offer-for-sale of Rs 1,428 crore worth shares by Accel India, Bessemer India Capital Holdings, Elevation Capital, Internet Fund, and VY Capital. The price band for the offer has been fixed at Rs 98-103 per share.

Shringar House of Mangalsutra, which manufactures and designs Mangalsutra for several brands, aims to mobilise Rs 401 crore via public issue comprising entirely fresh issue of 2.43 crore shares. The price band range is Rs 155 to Rs 165 per share.

Flexible office spaces provider Dev Accelerator (DevX) will be the third IPO from the mainboard segment, raising Rs 143.35 crore via maiden public issue of 2.35 crore shares at the upper end of price band of Rs 56-61 per share. The IPO consists of only fresh issue.

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The remainder seven public issues will be launched in the SME segment including Krupalu Metals, and Nilachal Carbo Metalicks being the first amongst them opening on September 8. Both are fixed price issues.

Krupalu Metals, the brass and copper products maker, is raising Rs 13.48 crore at Rs 72 per share, while Nilachal Carbo Metalicks, the specialises in producing ferro alloy grade coke, intends to mop up Rs 56.10 crore at Rs 85 per share.

This follows Karbonsteel Engineering and Taurian MPS IPOs, both of which are set to open for subscription on September 9 with price band of Rs 151-159 per share, and Rs 162-171 per share, respectively. The former targets to mobilise Rs 59.3 crore, while the proposed fund raising by later one is Rs 42.53 crore.

Jay Ambe Supermarkets, the retail chain operating under the City Square Mart brand, will be the next IPO worth Rs 18.45-crore in the SME segment, opening on September 10 with price band of Rs 74-78 per share, followed by Airfloa Rail Technology.

Airfloa, which manufactures components for rolling stock of Indian Railways, is raising Rs 91.1 crore via IPO during September 11-15. The price band for the offer is Rs 133-140 per share.

LT Elevator will be the last SME IPO in the current week, scheduled for opening on September 12, with fresh issue of 50.48 lakh shares.

Apart from these 10 IPOs, Austere Systems, Vigor Plast India, and Sharvaya Metals public issues will close on September 9, followed by Vashishtha Luxury Fashion offer closing on September 10.

Listings

Further, total seven companies are set for debut on the bourses this week including one from the mainboard segment which is Amanta Healthcare on September 9.

In the SME segment, Rachit Prints will list on the BSE SME on September 8. This follows Goel Construction Company, Optivalue Tek Consulting, Austere Systems, Vigor Plast India, and Sharvaya Metals which are scheduled for their market debut during the week.