The IPOs in SME segment seem to be unstoppable as three public issues to hit Dalal Street in three days this week, though there is no IPO flood in the main board segment.
A total of seven IPOs hit the stock exchanges in the main board segment, while the SME segment saw 65 public issues in the calendar year so far. The fund raising in main board is always bigger than SMEs.
In the remaining days of current week, Cosmic CRF, the cold-rolled stainless section supplier, will be the first SME IPO to open for subscription on June 14, with a price band at Rs 314-330 per share.
The offer will close on June 16, 2023.
The company is planning to raise little more than Rs 60 crore via public issue of 18.22 lakh equity shares. The IPO money will be utilised for expansion of existing manufacturing unit, working capital requirement, and repaying debts, besides general corporate purposes.
Titagarh Wagons Limited, Hindusthan Engineering & Industries, Melbrow Engineering Works, Jindal Rail Infrastructure, Allied Construction Engineers are some of its clients.
Cell Point (India) is the second IPO getting launched for bidding on June 15, with a price of Rs 100 per share. It is a fixed price issue and will close on June 20.
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The amount of money to be raised via initial public offering would be over Rs 50 crore, which will be used for repaying debts, and working capital requirements.
With the IPO money, the company will also do repairs and renovation of existing retail outlets and setting of new retail outlets, besides general corporate expenses and issue expenses.
Cell Point (India) with 75 retail stores chain in Andhra Pradesh is engaged in multi-brand retail selling of smart phones, tablets, mobile accessories and mobile related products and allied accessories of various brands such as Apple, Samsung, Oppo, Realme, Nokia, Vivo, Xiaomi, Nokia, Redmi, Techno, One Plus, GIONEE, VIVO etc.
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It is also engaged in retail selling of some of the consumer durable electronics goods, specifically, smart televisions of various brands such as Xiaomi, Realme and One Plus.
Pharmaceutical products manufacturer Vilin Bio Med will also be coming out with IPO this week on June 16. It is also a fixed price issue closing on June 21.
The company plans to mobilise Rs 12 crore via public issue of 40 lakh shares at a price of Rs 30 per share. Majority of funds will be utilised for additional working capital requirements, besides general corporate purposes.
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Cosmic CRF will list its equity shares in BSE SME segment on June 26, while Cell Point (India) and Vilin Bio Med will debut on the NSE SME Emerge on June 29 and June 30 respectively.
In addition, three IPOs already opened for subscription this week.
Public issues by Urban Enviro Waste Management and Bizotic Commercial opened on June 12. The subscription for both will close on June 14 and June 15 respectively.
Spectrum Talent Management, the human resource and staffing services provider, launched its IPO on June 9, with a price band of Rs 169-173 per share. The Rs 105-crore offer will close on June 14.
Waste management solutions provider Urban Enviro Waste Management intends to raise Rs 11.42 crore at a issue price of Rs 100 per share. The repaying debts and working capital requirements are the main objectives of the public issue.
Readymade garments manufacturer Bizotic Commercial is also a fixed price issue, aiming to garner Rs 42.2 crore via IPO of 24.12 lakh shares at a price of Rs 175 per share.
Spectrum Talent Management, and Urban Enviro Waste Management will made a debut on the NSE SME Emerge, while Bizotic Commercial will be listing on BSE SME.
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