Primary Market Update: Five new IPOs to hit Dalal Street this week

The mainboard segment is set to see action after a quiet period of couple of weeks, as two new IPOs will hit Dalal Street this week, starting from May 19, along with three public issues in the SME segment.

Surat-based textiles company Borana Weaves will be the first IPO amongst two in the mainboard segment, opening for public subscription on May 20 with a price band of Rs 205-216 per share. It plans to raise Rs 144.89 crore via a public issue of 67.08 lakh shares, which consists of an entirely fresh issue. The offer will close on May 22.

The second IPO will be Belrise Industries, opening on May 21. The Pune-based automotive components manufacturer intends to mop up Rs 2,150 crore via maiden public issue at the upper end of price band of Rs 85-90 per share. It is also solely fresh issue, which will close on May 23.

Meanwhile, the relentless action will continue in the SME segment as electric vehicle maker Victory Electric Vehicles International being the first amongst three IPOs will be launched on May 20. It aims to raise Rs 40.66 crore via initial public offering of 56.47 lakh shares at a price of Rs 72 per share. The issue will remain open for four days till May 23.