The primary market is likely to be less active in the first week of the new financial year FY25 starting from April 1 as there will be one major IPO opening for subscription and 10 companies are scheduled for listing on the bourses.
The fixed-line telephone and broadband services provider will open its Rs 4,275-crore IPO on April 3, with a price band at Rs 542-570 per share, which comprises only an offer-for-sale of 7.5 crore equity shares by public shareholder Telecommunications Consultants India.
The offer by the Bharti Airtel subsidiary will close on April 5. Airtel owns 70 percent shares in Bharti Hexacom and the rest of 30 percent stake is held by Telecommunications Consultants India.
Next week, there are no new SME IPOs scheduled. However, seven SME companies will close their initial public offerings.
Also read: Vasuki Global Industries plans to raise funds via IPO, files draft papers with SEBI
Radiowalla Network, and TAC Infosec will close their public issues on April 2, while the last day for bidding in Yash Optics & Lens, Jay Kailash Namkeen, and K2 Infragen IPOs will be April 3.
Further, the Aluwind Architectural, and Creative Graphics Solutions India IPOs subscription will close on April 4.
Total 10 companies are scheduled for making debut on the bourses including nine from the SME segment. Jammu & Kashmir-based EPC contractor SRM Contractors is the only company from the mainboard segment to list shares next week on April 3. The Rs 130-crore SRM IPO was subscribed 86.57 times during March 26-28.
Also read: Ecos India Mobility & Hospitality files IPO papers with only OFS component
The trading premium for SRM Contractors IPO shares in the grey market has increased further to over 50 percent, from 42 percent earlier over the issue price of Rs 210 per share, the market observers said. The grey market is an unofficial platform for trading in IPO shares till the listing.
From the SME segment, Vishwas Agri Seeds will be the first to debut next week on April 1 and Naman In-Store (India) on April 2, on the NSE Emerge.
The trading in Blue Pebble, and Aspire & Innovative Advertising shares will commence on the NSE Emerge with effect from April 3. Vruddhi Engineering Works, and GConnect Logitech and Supply Chain will also be listing on April 3, on the BSE SME.
Also read: Shapoorji Pallonji Group firm Afcons Infra files draft papers to raise Rs 7,000 crore via IPO
Further, Trust Fintech will make its debut on the NSE Emerge on April 4, while investors can start trading in Radiowalla Network, and TAC Infosec shares on the same exchange, with effect from April 5.
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