Primary market schedule | 4 IPOs to be launched, 6 listings next week
Three public issues will be launched next week, keeping the SME (small and medium enterprise) segment just as busy as the mainboard section.
In the primary market segment for the upcoming week, four IPOs with a total value of over Rs 500 crore will be available for subscription, and six companies will be scheduled for listing on the bourses.
Rishabh Instruments, a manufacturer of testing and measuring instruments, will be the first company from the mainboard segment to initiate its initial public offering on August 30 and close it on September 1.
The company will raise Rs 490.78 crore at the upper end of the price band of Rs 418-441 per share, comprised of a fresh issuance of Rs 75 crore worth of shares and an offer for sale of Rs 415.78 crore by investor SACEF Holdings II and promoters.
The public offering of infrastructure company Vishnu Prakash R Punglia, which began on August 24 and will conclude on August 28 next week, will have begun on August 24. All types of investors have supported the offering to date, which has been subscribed 10.63 times.
In addition, the manufacturer of stainless steel completed sheets Ratnaveer Precision Engineering will launch its anchor book for a day on September 1, prior to its IPO. The company has reserved 50 percent of the offering for qualified institutional investors (with up to 60 percent reserved for the anchor book), 15 percent for high-net-worth individuals, and 35 percent for retail investors.
In addition, we'll have two listings in the mainboard segment. Pyramid Technoplast, a manufacturer of polymer-based molded products, will debut on August 30. Aeroflex Industries, a manufacturer of metallic flexible flow solution products, will list on August 31. Their IPOs were purchased at a rate of 18.29 and 97.11 times their respective sizes.
On the grey market, Aeroflex shares are fetching a 65 percent premium over the upper price band of Rs 108 per share, while the grey market premium for Pyramid shares was approximately 10 percent over the IPO price of Rs 166 per share, analysts said on the condition of anonymity.
SME Segment
Three public issues will be launched next week, keeping the SME (small and medium enterprise) segment just as busy as the mainboard section.
Subscriptions for Mono Pharmacare's Rs 14.84-crore initial public offering (IPO), in a price range of Rs 26-28 per share, will be open from August 28-30.
On August 29th, CPS Shapers, a manufacturer of shapewear, will open bidding for its initial public offering. The offer price for each share in this issuance is Rs 185, and it is a fixed price offering. The organization hopes to collect Rs 11.1 crore in funding.
Basilic Fly studio, a VFX firm situated in Chennai, will launch its initial public offering (IPO) on September 1. Company officials have not yet disclosed a price range.
How Finance Works
These three initial public offerings are all brand new issues.
In addition, Sahaj Fashions' Rs 13.96 crore IPO will end on August 29. The company produces fabric for clothing and home decor.
On the IPO front, diamond and jewelry company Shoora Designs will debut on August 29 as the first among SMEs.
On August 30, Crop Life Science, a manufacturer of agrochemical formulations, and Bondada Engineering, a provider of passive telecom infrastructure services, will begin trading on the stock market. On August 31, Sungarner Energies, a provider of power solutions, will do the same.
Also Read:-Sahaj Fashions IPO: Offer fully subscribed on Day 1