IPOs This Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week sees strong market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription.
‘’There was decline in IPO activities in 2022 and expected to have a jump of 30 per cent in IPO issuance in 2023. A strong pipeline of over $9 billion, which has been approved by capital markets regulator SEBI, and another $6 billion filed with the capital markets watchdog, of which $10 billion should fructify. Remaining fiscal 2023 looks promising for primary markets,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd, a mid-market investment bank.
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‘’Next week looks promising with IPOs like EMS Limited, RR Kabel among others on the horizon, targeting to raise cumulative fund amounting to ₹3,200+ crore. Further, it is encouraging to note that as IPO market is sizzling, FPI’s have poured over ₹21,000 crore into IPOs in April-August’23,” added Lunawat.
In the primary market during the period September 2 – September 9, one mainboard IPO i.e., Vishnu Prakash R. Punglia Limited listed, raising a total of ₹309 crore and at a premium of 67 per cent.
Among the ongoing issues, EMS IPO from the mainboard segment closes on Tuesday, September 12. From the SME segment, Unihealth Consultancy IPO, Jiwanram Sheoduttrai Industries IPO, and Meson Valves India IPO close on Monday, September 12.
Let’s take a look at some of the companies that are opening for subscription this week, along with few that are getting listed on the bourses.
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RR Kabel IPO:
The public issue of consumer electrical product maker RR Kabel is set to open for public subscription on Wednesday, September 13. The IPO will close on Friday, September 15, while the anchor book will be opened for a day on September 12. The IPO comprises fresh issue of equity shares worth ₹180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth ₹1,784 crore by the promoters and investors.
RR Kabel IPO price band has been fixed at ₹983- ₹1,035 per share. At the upper end of the price band, RR Kabel aims to raise ₹1,964 crore from the IPO. RR Kabel IPO IPO is a mainboard IPO its shares will get listed on stock exchanges BSE and NSE, with the tentative listing date set as September 26.
Samhi Hotels IPO:
The public issue of Goldman Sachs-backed Samhi Hotels will open for subscription on Thursday, September 14. The three-day IPO will conclude on September 18 and the bidding for the anchor investors will open on September 13.
Samhi Hotels proposed an IPO comprising a fresh issue of equity shares worth ₹1,200 crore and an OFS of 1.35 crore equity shares by existing shareholders. The Gurguram-based company will utilise net proceeds of the fresh issue to the tune of ₹750 crore towards payment of debt and for general corporate purposes. Samhi Hotels IPO is a mainboard IPO its shares will get listed on stock exchanges BSE and NSE, with the tentative listing date set as September 27.
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Zaggle Prepaid Ocean Services IPO:
The public issue of the software-as-a-service (SaaS) fintech will open on Thursday, September 14, with a likely fund raising plan of around ₹563 crore. The IPO comprises a fresh issue of shares worth ₹392 crory, and an OFS of 1,04,49,816 equity shares by eight selling shareholders including promoters Raj P Narayanam, and Avinash Ramesh Godkhindi.
The IPO will close on September 18 and the basis of allotment will be done on September 22. Zaggle Prepaid Ocean Services IPO is a mainboard IPO its shares will get listed on stock exchanges BSE and NSE, with the tentative listing date set as September 27.
Chavda Infra IPO:
Chavda Infra IPO opens for subscription on Tuesday, September 12, and closes on Thursday, September 14. The price band has been fixed in the range between ₹60 to ₹65 per equity share of face value of ₹10 each. Chavda Infra IPO, which is worth ₹43.26 crore, is completely a fresh issue of 6,656,000 equity share; there is no OFS component.
Chavda Infra Limited offers construction and related services within the residential, commercial, and institutional projects in Gujarat. Chavda Infra IPO is SME IPO and its shares will get listed on NSE SME, with the tentative listing date set as September 25.
Kundan Edifice IPO:
Kundan Edifice IPO will be the second new public issue in the SME segment opening this week on Tuesday, September 12. The fund raising would be ₹25.22 crore at a price of ₹91 per share. The IPO of 27.72 lakh equity shares, which will constitute 26.99 per cent of the post-issue paid-up equity, will be concluding on Friday, September 15.
Kundan Edifice Limited is engaged in the business of manufacturing, assembly, and sale of light-emitting diode (LED) strip lights. As Kundan Edifice IPO is an SME IPO, it shares will get listed on NSE SME, with the tentative listing date set as September 26.
Cellecor Gadgets IPO:
The public issue of Cellecor Gadgets is all set to hit primary markets this week, opening on Friday, September 15. The SME company has announced price band of the book build issue at ₹87 to ₹92 per equity share. Cellecor Gadgets aims to raise 50.77 crore from its initial offer,, according to its draft red herring prospectus (DRHP).
Cellecor Gadgets Limited is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. Cellecor Gadgets IPO is an SME IPO and it shares will get listed on NSE SME, with the tentative listing date set as September 28.
New Listings:
Rishabh Instruments: Shares of the mainboard IPO will get listed on stock exchanges BSE and NSE on September 11.
Ratnaveer Precision Engineering: Shares of the mainboard IPO will get listed on stock exchanges BSE and NSE on September 11.
Saroja Pharma Industries: Shares of the SME IPO will get listed on NSE SME on Wednesday, September 13. The refunds will be initiated on September 11 and shares will be credited to demat accounts on Tuesday, September 12.
Basilic Fly Studio: Shares of the SME IPO will get listed on NSE SME on Wednesday, September 13. The refunds will be initiated on September 11 and shares will be credited to demat accounts on Tuesday, September 12.
Pramara Promotions: Shares of the SME IPO will get listed on NSE SME on Wednesday, September 13. The refunds will be initiated on September 11 and shares will be credited to demat accounts on Tuesday, September 12.
