IPO rush continues with 18 public issues worth over Rs 4,000 cr set to open this week

The flow of initial public offers (IPOs) on Dalal Street will be strong in the week starting September 25, as Rs 4,095 crore worth of IPOs by 18 companies will be opening for subscription, including four in the mainboard segment. There are also five ongoing issues.

Mainboard segment

The IPO of port-related infra company JSW Infrastructure, the first IPO from the JSW Group since 2010, will be opening on September 25. The public issue aims to raise Rs 2,800 crore at the upper end of the price band of Rs 113-119 per share. The offer will close September 27.

Facility management services company Updater Services will also open its Rs 640-crore public issue during the same period, with a price band of Rs 280-300 per share.

JSW Infrastructure has already mopped up Rs 1,260 crore, and Updater Services Rs 288 crore from anchor investors on September 22, which was the last working day before the opening of the issue.

JSW Infrastructure has already mopped up Rs 1,260 crore and Updater Services Rs 288 crore from anchor investors on September 22, which was the last working day before the opening of the issue.

Pharma company Valiant Laboratories will be the third offer to open next week, on September 27, with a price band of Rs 133-140 per share. It is planning to raise Rs 152.46 crore at the upper price band. The closing date is October 3.

The bidding for the IPO by Delhi-based Plaza Wires will start from September 29 and end on October 4. The IPO has a price band of Rs 51-54 per share, and aims to raise Rs 71.28 crore.

Manoj Vaibhav Gems N Jewellers, which is largely known by its brand name Vaibhav Jewellers, will be closing its Rs 270 crore maiden public issue on September 26. The offer — with a price band of Rs 204-215 — has been subscribed 13 percent so far.

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SME Segment

The real action will be seen in the SME (small and medium enterprise) segment as 12 IPOs worth Rs 431-crore are ready to be launched next week, with five of them — Arabian Petroleum, Newjaisa Technologies, Inspire Films, Saakshi Medtech and Panels, and Digikore Studios — opening on September 25. The issues will close on September 27.

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Arabian Petroleum aims to raise Rs 20.24 crore at a price of Rs 70 per share, while Newjaisa Technologies has set a price band at Rs 44-47 per share, Inspire Films of Rs 56-59 per share, Saakshi Medtech and Panels has set a band of Rs 92-97 per share, and Digikore Studios of Rs 168-171 per share.

Newjaisa Technologies intends to mop up Rs 39.93 crore, Inspire Films Rs 21.23 crore, Saakshi Medtech and Panels Rs 45.16, and Digikore Studios Rs 30.48 crore at the upper band.

Sunita Tools will be opening its Rs 22.04 crore IPO during September 26-28, while the Rs 15 crore IPO by City Crops Agro will be launched during September 26-29, and the Rs 15.62 crore IPO by Kontor Space during September 27-29. These are fixed price issues, at Rs 145 per share, Rs 25, and Rs 93 per share, respectively.

Goyal Salt aims to mobilise Rs 18.63 crore through its public issue which will be open during September 26-29, with a price band of Rs 36-38 per share.

Further, the IPOs of three — E Factor Experiences, Vinyas Innovative Technologies, and Canarys Automations — will be open for subscription between September 27 and October 3.

E Factor Experiences is planning to raise Rs 25.92 crore, Vinyas Innovative Technologies Rs 54.66 crore, and Canarys Automations is aiming for Rs 47.03 crore, at the upper end of price band of Rs 71-75 per share, Rs 162-165 per share, and Rs 29-31 per share, respectively.

Vishnusurya Projects and Infra, and Karnika Industries will be the last of these 16 public issues, for which the bidding will start from September 29. Vishnusurya Projects plans to raise Rs 50 crore at a price of Rs 68 per share, and Karnika Industries Rs 25.07 crore at a price of Rs 76 per share.

In the case of ongoing IPOs, Marco Cables & Conductors, Mangalam Alloys, and Hi-Green Carbon will be closing their public offers on September 25. So far, they have been subscribed 3.3 times, 2.25 times, and 23.13 times, respectively.

Organic Recycling Systems will also be closing next week on September 26, which so far has been bought 99.95 percent.

Listings

Per the IPO schedule, Yatra Online, a leading corporate travel company, will be the only firm listing on the bourses next week, on September 29, while seven companies will be listed in the SME segment.

Chavda Infra and Holmarc Opto-Mechatronics will make their debut on NSE Emerge on September 25, while Kundan Edifice will list on the same platform on September 26.

Further, trading in Kody Technolab and Cellecor Gadgets stock on NSE Emerge will commence from September 28, and Master Components on September 29, while Techknowgreen Solutions will list shares on BSE SME on September 29.

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