The pace of IPO launch in the primary market seems to be slowing down considerably in October as in the second week of this month starting on October 9, there will be only one IPO opening for subscription, while most of companies launched public issues towards end of last month are set to debut on the bourses.
Gujarat-based Arvind and Company Shipping Agency is the only initial public offering opening for subscription next week on October 12, with offer price of Rs 45 per share, in the SME segment, while there is no issue launch in the mainboard segment.
Arvind is planning to raise Rs 14.74-crore via public issue that will close on October 16. The offer comprises only a fresh issue component, which will be utilised by the company for capital expenditure, general corporate purposes, and public issue expenses.
Rs 25-crore IPO by Committed Cargo Care, which opened on October 6, will be closing on October 10. The offer price is Rs 77 per share.
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On the listing front, in the mainboard segment, Delhi-based wires manufacturing company Plaza Wires will make its debut on the bourses on October 13, as per IPO schedule. Its shares were available at a 44 percent premium over the upper price band (Rs 54 per share) in the grey market, which is an unofficial platform wherein IPO shares can be bought and sold till the listing, analysts on anonymity said.
The robust subscription numbers seem to be boosting the grey market premium, indicating healthy debut on the bourses. The Rs 71-crore IPO was booked 161 times during September 29-October 5, with retail investors' reserved portion subscribing 374.81 times, the highest ever by any IPO in the retail category, high net worth individuals 388.09 times, and qualified institutional buyers 42.84 times.
Also read: 28 IPOs worth Rs 38,000 crore to hit the street in second half of FY24
Further, the rest of listings taking place next week would be from the SME segment. Lubricants manufacturing company Arabian Petroleum and event management firm E Factor Experiences will debut on the NSE Emerge on October 9.
Among others, on October 10, agri products trader City Crops Agro will debut on the BSE SME, while raw salts refining company Goyal Salt and Kontor Space, which provides service of renting & managing commercial space, will list shares on the NSE Emerge.
Logistics services provider Oneclick Logistics India, and IT solutions company Canarys Automations are set to make a debut on the NSE Emerge on October 11.
Also read: IPO weekly wrap: JSW Infra sees big bang debut, SME companies show no signs of slowing down
Further, on October 12, there will be four listings with trading in clothes and garments manufacturing company Vivaa Tradecom taking place on the BSE SME. Rough stones mining company Vishnusurya Projects, forging and graded casting machined components maker Sharp Chucks and Machines, and BPO services company Plada Infotech Services will be listing on the NSE Emerge on same date.
Garments manufacturing company Karnika Industries is set to list its shares on the NSE Emerge, with effect from October 13, while mold base and machining parts manufacturer Sunita Tools is supposed to debut on the BSE SME on October 9 as per IPO schedule, but the exchange has not issued any circular yet.
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