The primary market is going to remain busy even in the last week of year 2023 when the trading volumes in the secondary markets are generally lower due to holiday season. There would not be any new IPOs lined up in the mainboard segment, but all the action will be seen in the SME segment, while a total of 14 companies from both the segments will be making their debut on the bourses.
Amongst the IPOs and listings, all eyes will be on the eight listings scheduled in the coming truncated week in the mainboard segment, though the action will be more in the SME segment.
All the markets will remain shut on December 25 for Christmas holiday.
On the first working day of next week, i.e. December 26, there will be three listings - Motisons Jewellers, Muthoot Microfin, and Suraj Estate Developers - in the mainboard segment and one in the SME segment which will be Sahara Maritime.
Amongst them, Jaipur-based gold jewellery maker Motisons Jewellers seems to be the blockbuster listing. Analysts, on the condition of anonymity, told Moneycontrol that the company's IPO shares were available at more than 100 percent premium over the issue price of Rs 55 in the grey market given the 151 times subscription bagged by the IPO.
Meanwhile, the Kochi-headquartered microfinance institution Muthoot Microfin and Mumbai-based realty company Suraj Estate Developers may see the listing premium in single digits.
The Muthoot Microfin IPO was subscribed 11.52 times, and that of Suraj Estate Developers 15.65 times during December 18-20.
Also read: Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023
The following day, i.e. December 27 will also be a busy day as another three companies - Happy Forgings, RBZ Jewellers, and Credo Brands Marketing - will be making their debut on the bourses in the mainboard segment, while in the SME segment, there will be two listings - Shanti Spintex, and Electro Force (India).
Both, Happy Forgings, and Credo Brands Marketing (Mufti Menswear) are likely to be strong listings next week as the grey market investors are giving them around 45 percent premium over the issue price, but RBZ Jewellers is not getting any premium in the grey market, an unofficial platform wherein the IPO shares can be bought and sold till the listing.
During December 19-21, the Happy Forgings IPO was subscribed 82 times, Credo Brands Marketing 51.85 times and that of RBZ Jewellers 16.86 times.
Furthermore, Telangana-based engineered precision forged and machined components maker Azad Engineering will be listing on December 28, after closing the issue with 80.6 times subscription on December 22. The grey market investors traded its IPO shares with more than 75 percent premium over the issue price of Rs 524.
Pharmaceutical company Innova Captab, which will be closing its public issue on December 26, will also debut on the bourses next week on December 29. In fact, this will be the last IPO and listing in the mainboard segment. In the first two days, the issue was subscribed 3.54 times, while analysts said its shares were available at 20-30 percent premium in the grey market.
Also read: IPO rally stays the course with Rs 60,000-cr share sales lined up for new year
Trident Techlabs, Supreme Power Equipment, and Indifra from the SME segment will also be listing on December 29, while their IPOs' closing date will be December 26.
Meanwhile, amongst six IPOs worth Rs 105 crore scheduled for opening next week in the SME segment, AIK Pipes and Polymers will be the first to launch its Rs 15-crore public issue on December 26, with a price at Rs 89 per share. The fixed price issue will be closing on December 28.
Further, four companies namely Shri Balaji Valve Components, Manoj Ceramic, HRH Next Services and Akanksha Power will open their initial public offerings for subscription during December 27-29.
Shri Balaji Valve Components has fixed price band for its Rs 21.6-crore IPO at Rs 95-100 per share, and that of Akanksha Power and Infrastructure's Rs 27.5-crore issue is Rs 52-55 per share.
Manoj Ceramic and HRH Next Services are fixed price issues, raising Rs 14.47 crore at a price of Rs 62 per share, and Rs 9.57 crore at Rs 36 per share.
Kay Cee Energy & Infra will be the last IPO in the SME segment, for which the bidding will start on December 28 and close on January 2, with a price band at Rs 51-54 per share. Its fund raising will be Rs 15.93 crore.
The Sameera Agro and Infra IPO will be closing on December 27. The Rs 62.64-crore public issue was subscribed 90 percent during December 21-22. It is a fixed price issue with a price at Rs 180 per share.
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