The final week of Samvat 2079 will be a busy one for the primary market, with four initial public offerings (IPOs) worth Rs 1,390 crore opening for subscription and nine firms making their debut on the bourses.
Citizen-centric and population scale e-governance solutions developer Protean eGov Technologies will be the first IPO of the mainboard segment, which will open on November 6 in a price band of Rs 752-792 a per share.
Also read: Protean eGov Technologies IPO | Investors pick Rs 143.5 crore shares in anchor book
The Rs 490.33-crore offer, which closes November 8, is only an offer-for-sale (OFS) by the investors, including 360 One Special Opportunities Fund, HDFC Bank, Axis Bank, Deutsche Bank A G, Union Bank of India, and NSE Investments.
ASK Automotive, which specialises in advanced braking systems for two-wheelers, will be the second public issue in the mainboard segment The bidding will take place during November 7-9 in a price band of Rs 268-282.
Also read: Cello World to debut on November 6: Stock may list at 22-25% premium over IPO price
The Rs 834-crore IPO is again an OFS by promoters Kuldip Singh Rathee and Vijay Rathee. The entire proceeds will go to the promoters.
One of the two SME IPOs to open this week, Ahmedabad-based Sunrest Lifescience's offer will open on November 7 at a price of Rs 84 a share. The last day for bidding for the fixed price issue is November 9.
The Rs 10.85-crore IPO is purely a fresh issue. The health and personal care products firm will use, the funds mainly for meeting working capital requirements and general corporate purposes.
IT solutions provider ROX Hi-Tech's IPO open, too, will have the same schedule as the one for Sunrise LIfescience. The price band for the book- built issue has been fixed at Rs 80-83 a share.
The Chennai-based company is looking to raise Rs 54.49 crore through the IPO with a fresh issuance of shares worth Rs 49.95 crore, and an offer-for-sale of Rs 4.54 crore by promoter Sukanya Rakesh and Janet Rekha.
The firm will spend the fresh issue proceeds to set up a network operations centre (NOC) and security operations centre (SOC) in Chennai and global software delivery centre in Noida. Working capital requirements and general corporate expenses will also be funded by fresh issue proceeds.
IPOs which close this week
Also read: ESAF Small Finance Bank IPO: Should you subscribe to Rs 463 crore issue?
The small finance bank will close its Rs 463-crore public issue on November 7. The offer, with a price band of Rs 57-60 a share, was subscribed 1.74 times on November 3 when it opened for subscription.
Also read: IPO Weekly Wrap: Mamaearth, ESAF, Cello, Blue Jet, 12 SME public issues steer the market ship
Micropro Software Solutions IPO
Two other public issues, both from the SME segment, will also close this week. IT service company Micropro Software Solutions will close its fixed- price issue on November 7. The Rs 30.7-crore IPO, with a share priced at Rs 81, was fully subscribed on its debut on November 3, getting subscribed 1.88 times.
Baba Food Processing India IPO
Baba Food Processing India IPO too will close on will close on November 7. The price band for the agro-food manufacturing company's IPO has been fixed at Rs 72-76 a share.
The Rs 33-crore fresh issue was subscribed 2.82 times on November 3, the first day of bidding.
Listings this week
Cello World, Honasa Consumer, the parent firm of personal care products firm Mamaearth, and ESAF Small Finance Bank are three mainboard segment stocks among the nine companies to make their market debut this week.
All three mainboard companies have opted for the T+3 timeline instead of the earlier T+6 timeline.
Consumer products company Cello World debuts November 6 after raising Rs 1,900 crore via public issue that was subscribed 39 times during October 30-November 1 period. The final issue price has been fixed at Rs 648 a share.
Honasa Consumer lists on November 7 and ESAF Small Finance Bank may possibly be on November 10, sources told Moneycontrol.
The Rs 1,701-crore public issue of Honasa Consumer was subscribed 7.61 times
Cello World was traded at a 25 percent premium in the grey market over the issue price of Rs 648 a share, Honasa at around 5 percent premium over the issue price of Rs 324 and ESAF at 33 percent premium over the upper price band, analysts said on condition of anonymity. The grey market is an unofficial platform where IPO shares can be bought and sold till the listing day.
In the SME segment, KK Shah Hospitals and SAR Televenture will debut on the BSE SME and NSE Emerge on November 8, while Maitreya Medicare and Transteel Seating Technologies will list shares on the NSE Emerge on November 9.
Vrundavan Plantation will also debut on November 9 on the BSE SME, and Mish Designs on November 10.
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