The flow of IPOs seems to be unstoppable given the healthy equity market conditions and consistently increasing domestic inflow as well as the amount pumped in by foreign institutional investors in the primary market. In the week ahead starting from September 2, investors will get the opportunity to invest in six IPOs including one from the mainboard segment.
Gala Precision Engineering IPO
The Maharashtra-based precision components manufacturer will open its Rs 168-crore initial public offering on September 2, with a price band of Rs 503-529 per share. The IPO comprises fresh issuance of equity shares worth Rs 135.34 crore and an offer-for-sale of 6.16 lakh shares worth Rs 32.59 crore by existing shareholders including promoters. The final day of subscription would be September 4.
The remainder five public issues are from the SME segment with Jeyyam Global Foods being the first to hit Dalal Street on September 2. The food company targets to raise Rs 81.94 crore through IPO at the upper end of the price band of Rs 59-61 per share, during three days till September 4. The IPO is a combination of a fresh issue of 1.2 crore equity shares worth Rs 73.74 crore and an offer-for-sale of 13.43 lakh shares worth Rs 8.19 crore.
Naturewings Holidays IPO
The Kolkata-based company that offers holiday packages will be the second IPO from the SME section, opening for subscription for three days from September 3 till September 5. It is a fixed-price issue. The company aims to raise Rs 7.03 crore via public issue of 9.5 lakh equity shares at a price of Rs 74 per share.
Mach Conferences and Events IPO
The company that specialises in conference management, exhibition management and global event planning will launch its Rs 125.3-crore maiden public issue on September 4, with a price band at Rs 214-225 per share. It targets to mobilise Rs 50.15 crore via the fresh issue of 22.29 lakh equity shares, and Rs 75.13 crore through the offer-for-sale route. The offer will close on September 6.
New Delhi-based Namo eWaste, which offers collection, disposal, and recycling of e-waste services will come out with its Rs 51.2-crore initial public offering on September 4. The price band for the book-built issue, which closes on September 6, has been fixed at Rs 80-85 per share. It is a sole fresh issue by the company.
My Mudra Fincorp IPO
This will be the last public issue from the SME segment this week. The IPO of New Delhi-based My Mudra Fincorp that specialises in the distribution and sales of financial products as channel partner will open on September 5, with price band at Rs 104-110 per share. It targets to mop up Rs 33.26 crore at the upper price band.
In addition, Travels & Rentals will close its public issue on September 2, and Boss Packaging Solutions on September 3, while the bidding for fashion retailer Baazar Style Retail's IPO will continue till September 3.
Listing
Solar cell and solar panel manufacturer Premier Energies will be the first to debut on the BSE and NSE this week on September 3. The participants will get shares in their demat accounts by September 2, while the final issue price has been fixed at Rs 450 per share.
Chauffeur-driven car rental service provider Ecos India Mobility and Hospitality will finalise the basis of allotment of IPO shares by September 2 and its shares will list on the bourses on September 4.
In addition, trading in Baazar Style Retail shares will also commence on the bourses this week, effective September 6.
In the grey market, an unofficial market for trading in IPO shares till the listing, Premier Energies shares traded at double the issue price of Rs 450 per share, while Ecos India Mobility shares were available at around 45 percent premium over the upper price band and Style Baazar shares attracted around 25-30 percent premium, the market observers said.
From the SME segment, Indian Phosphate, Vdeal System, and Jay Bee Laminations will be listed on the NSE Emerge on September 3, while the trading in Paramatrix Technologies, and Aeron Composite shares will commence on the NSE Emerge, effective September 4. Travels & Rentals will debut on the BSE SME on September 5, followed by Boss Packaging Solutions shares on the NSE Emerge on September 6.
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