Primary market action: Mainboard segment remains silent, but action continues in SME with 4 IPOs launch next week

Primary market action

The activity in mainboard segment remains standstill with no new IPO launch for more than a month now. However, the relentless action continues in the SME segment as four new companies are set to hit Dalal Street next week starting from March 24.

These four companies plan to raise Rs 185 crore via initial public offerings (IPO).

Desco Infratech IPO

Infrastructure company Desco Infratech will be the first amongst them to open initial share sale for public subscription next week on March 24. It aims to raise Rs 30.75 crore via book-built issue comprising entirely fresh issue of 20.5 lakh shares, at the upper end of price band of Rs 147-150 per share.

The offer will close on March 26.

Shri Ahimsa Naturals IPO

The next public issue is from the Jaipur-based crude caffeine processing company which intends to mobilise Rs 73.81 crore at the upper price band. The IPO is a combination of fresh issuance of 42.03 lakh shares worth Rs 50.02 crore, and an offer-for-sale of 19.99 lakh shares worth Rs 23.79 crore by promoters

The price band for the issue, which opens on March 25 and closes on March 27, has been fixed at Rs 113-119 per share.

ATC Energies System IPO

The lithium ion batteries maker is also set to launch its Rs 63.76-crore IPO on March 25, with price band at Rs 112-118 per share. The 54.03 lakh shares IPO is a mix of fresh issue of 43.23 lakh shares worth Rs 51.02 crore, and an offer-for-sale of 10.8 lakh shares worth Rs 12.74 crore by promoter Sandeep Gangabishan Bajoria.

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The energy solutions company will close its offer on March 27.

Identixweb IPO

Identixweb that develops Shopify app will be the last amongst them to open maiden public issue next week on March 26. It has fixed price band at Rs 51-54 per share for its IPO which will close on March 28.

The technology company targets to raise Rs 16.66 crore via public issue of 30.8 lakh shares at the upper price band.

Listings

In the coming week, investors will see five new SME companies available for trading on the bourses. Logistics company Paradeep Parivahan, and gold jewellery retailer Divine Hira Jewellers will be the first amongst them to debut on the BSE SME and NSE Emerge, respectively, March 24.

Bengaluru-based hotel chain operator Grand Continent Hotels will also be available for trading on NSE Emerge, effective March 27.

And the remainder two - Rapid Fleet Management Services, and Active Infrastructures - are set to debut on the NSE Emerge, effective March 28.