Upcoming IPOs: Vikram Solar, Patel Retail, Shreeji Shipping among 8 new issues lined up this week - check GMPs

Upcoming IPOs: Vikram Solar, Patel Retail, Shreeji Shipping among 8 new issues lined up this week.

The primary market is set for a busy week with eight initial public offerings (IPOs) worth over Rs 3,700 crore scheduled to open for subscription starting August 19.

Out of these, five companies will tap the mainboard segment to raise about Rs 3,584 crore, while three others will launch issues in the SME segment.

Four mainboard IPOs — Vikram Solar, Gem Aromatics, Patel Retail and Shreeji Shipping Global — will open on August 19 and close on August 21.

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Solar module maker Vikram Solar will be the largest among them, looking to mobilise Rs 2,079.37 crore. The issue comprises a fresh issue of shares worth Rs 1,500 crore and an offer-for-sale (OFS) of 1.74 crore shares worth Rs 579 crore. The price band has been set at Rs 315-332 per share.

Shipping and logistics solutions provider Shreeji Shipping Global will raise Rs Rs 411-crore through a fresh issue of 1.6 crore shares. Its price band is Rs 240-252 per share.

Patel Retail, which operates supermarket chains, has lined up a Rs 243-crore IPO, comprising a fresh issue of 85.18 lakh shares and an OFS of 10.02 lakh shares. The price band is Rs 237-255 per share.

Specialty ingredients maker Gem Aromatics will seek to raise Rs 451 crore. The issue includes a fresh issuance of shares worth Rs 175 crore and an OFS of 85 lakh shares by promoters. The price band has been fixed at Rs 309-325 per share.

Mangal Electrical Industries will be the fifth mainboard IPO, opening on August 20. The company, which manufactures transformer components, will raise Rs 400 crore through a fresh issue at a price band of Rs 533-561 per share.

In the SME segment, Studio LSD, LGT Business Connextions and Classic Electrodes (India) will hit the market this week.

Studio LSD, a multimedia production house, opened its issue on August 18 to raise a little over Rs 70 crore with a price band of Rs 51-54 per share.

Travel service aggregator LGT Business Connextions will launch its IPO on August 19 to mop up Rs 28.09 crore at a fixed price of Rs 107 per share.

Kolkata-based Classic Electrodes (India), engaged in welding consumables, will open its Rs 41.5-crore issue on August 22 with a price band of Rs 82-87 per share.

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