The primary market is going to be a bit quiet with no major action in the mainboard segment, though the SME section will remain active in the coming week starting from April 8.
Three IPOs, mainly from the SME segment will hit Dalal Street next week, but there will be no new public issues in the mainboard segment.
DCG Wires and Cables IPO
Copper cables and wires manufacturer will open its maiden public issue for subscription on April 8, with a target to raise Rs 49.99 crore. The price for the offer, which closes on April 10, has been fixed at Rs 100 per share. It is a fixed price issue comprising only a fresh issue of 49.99 lakh equity shares.
The Ahmedabad-based company that supplies copper cables and wires for transformer manufacturers will utilise net IPO funds (excluding issue expense purposes building construction, working capital requirements, and general corporate purpose.)
The construction company will also be opening its initial share sale during the same period, i.e. April 8-10, 2024, with issue price of Rs 111 per share. It is also a fixed price issue.
Also read: Bajaj Finance arm Bajaj Housing Finance picks Kotak, Axis, BofA, JM Fin and SBI Caps for mega IPO
The Rs 44.4-crore of funds raising via solely fresh issue of 39.99 lakh equity shares will be used for working capital requirements of the company and general corporate purpose, besides IPO expenses.
Uttar Pradesh-based Greenhitech will be the last public issue from the SME segment, opening next week on April 12 and closing on April 16. In fact, this is the smallest issue in size amongst these three IPOs.
It is a fixed price issue having a price of Rs 50 per share.
The petroleum-based products trader intends to mobilise Rs 6.3 crore through public issue, which will be utilised for working capital requirements, general corporate purposes, and IPO expenses.
Also read: Blackstone-backed Aadhar HF gets Sebi nod for Rs 5,000-cr IPO post re-filing of draft papers
Listings
Bharti Hexacom, the subsidiary of Bharti Airtel, will be the only listing next week on April 12, in the mainboard segment, while there will be total five listings in the SME segment.
The company that provides mobile, fixed-line telephone and broadband services in Rajasthan and North East telecom circles in India closed its Rs 4,275-crore public issue with 29.88 times subscription on April 5. The positive market conditions, strong parentage support, and healthy IPO subscription numbers may be supportive factors for the listing price.
The Bharti Hexacom IPO shares traded at around 11-12 percent premium over the upper price band (Rs 570 per share), the market observers said.
Meanwhile, in the SME segment, Yash Optics & Lens, and K2 Infragen will make their debut on the NSE Emerge on April 8, while Jay Kailash Namkeen will be listing shares on the BSE SME on the same date.
The trading in Creative Graphics Solutions India, and Aluwind Architectural equity shares will commence on the NSE Emerge, with effect from April 9.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
