The mainboard segment of the primary market seems to be losing euphoria as there will be no new initial public offering hitting Dalal Street next week starting from April 15. However, there will be a big follow-on public offer (FPO) by Vodafone Idea. In the coming week, the SME segment will remain busy with two IPOs opening for subscription and two companies listing shares.
Vodafone Idea, the third largest telecom operator which has been trying hard for a long time to stabilise financially, has decided to raise Rs 18,000 crore through a share sale, the biggest ever follow-on public offer to date in India. The FPO will open for subscription on April 18 and close on April 22.
The Vodafone Idea FPO comprises only a fresh issue component of over 1,636 crore equity shares by the company at the upper price band, with no offer-for-sale portion. The price band has been fixed at Rs 10-11 per share, while the participants in the issue can bid for a minimum of 1,298 equity shares and in multiples of 1,298 shares thereafter.
In the SME segment, the refined rice bran oil producer and distributor is going to launch its initial public offering (IPO) for subscription on April 15, with a price band at Rs 80-85 per share.
The company intends to raise Rs 50.27 crore through IPO of 59.13 lakh equity shares comprising only a fresh issue component. The last day for bidding the issue will be April 18.
The gourmet bakeries and patisseries chain that operates under the Birdy's brand will also open its IPO during the same period i.e. April 15-18, with a price at Rs 120 per share.
The company is going to raise Rs 16.47 crore via fixed price issue that consists of only a fresh issue portion.
Greenhitech Ventures which trades in petroleum-based products will close its Rs 6.3 crore public issue on April 16. It is also a fixed-price IPO with an issue price at Rs 50 per share. The offer was opened on April 12.
Listings
The market will see two listings both from the SME segment. DCG Wires and Cables, as well as Teerth Gopicon both will debut on the NSE Emerge on April 16, after raising Rs 49.99 crore and Rs 44.4 crore via IPOs last week.
The DCG Wires and Cables IPO was subscribed 15.82 times, and Teerth Gopicon public issue 67.2 times during April 8-10.
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