The primary market is gearing up for a resurgence with the introduction of four new initial public offerings (IPOs). Among these offerings, one belongs to the mainboard category while the other three are small and medium enterprise (SME) public issues.
While the IPO market saw a sluggish start to the new financial year FY25, there is optimism among market experts regarding the potential of the upcoming public issues.
Here’s a list of IPOs which will be open for subscription this week:
Varyaa Creations IPO
The IPO of Varyaa Creations will be available for subscription from April 22, 2024, until April 25, 2024. This SME IPO involves a fixed-price issue of Rs 20.10 crores, comprising entirely fresh shares totaling 13.4 lakh.
The price band for each share is set at Rs 150. Handling the IPO’s management is Inventure Merchant Banker Services Pvt Ltd, with Bigshare Services Pvt Ltd serving as the registrar. Svcm Securities has been appointed as the market maker for the Varyaa Creations IPO.
Emmforce Autotech IPO
The subscription period for the Emmforce Autotech IPO will commence on April 23, 2024, and conclude on April 25, 2024. This SME IPO entails a book-built issue valued at Rs 53.90 crores, with 55 lakh fresh shares being offered.
The price band for the Emmforce Autotech IPO ranges from Rs 93 to Rs 98 per share. Managing the IPO is Beeline Capital Advisors Pvt Ltd, with Link Intime India Private Ltd serving as the registrar. Spread X Securities has been designated as the market maker for the Emmforce Autotech IPO.
JNK India IPO
The subscription for the JNK India IPO will open on April 23, 2024, and will close on April 25, 2024. This IPO comprises a book-built issue totaling Rs 649.47 crores. It consists of a fresh issue of 0.76 crore shares, amounting to Rs 300 crores, and an offer for sale of 0.84 crore shares, totaling Rs 349.47 crores.
The price band for the IPO has been established at Rs 395 to Rs 415 per share. Managing the IPO are IIFL Securities Ltd and ICICI Securities Limited, while Link Intime India Private Ltd has been appointed as the registrar.
Shivam Chemicals IPO
The subscription period for the Shivam Chemicals IPO will commence on April 23, 2024, and will conclude on April 25, 2024. This SME IPO entails a fixed-price issue valued at Rs 20.18 crores, comprising entirely fresh shares totaling 45.87 lakh.
Each share in the Shivam Chemicals IPO is priced at Rs 44. Aryaman Financial Services Limited has been appointed as the book running lead manager, while Cameo Corporate Services Limited will serve as the registrar. Shreni Shares has been designated as the market maker for the Shivam Chemicals IPO.
Faalcon Concepts IPO
The bidding for the Faalcon Concepts IPO commenced on April 19, 2024, and will continue until April 23, 2024. This SME IPO involves a fixed-price issue valued at Rs 12.09 crore, consisting entirely of fresh shares totaling 19.5 lakh.
Each share in the Faalcon Concepts IPO is priced at Rs 62. Navigant Corporate Advisors Ltd has been appointed as the book running lead manager, while Beetal Financial & Computer Services (P) Limited will serve as the registrar. Alacrity Securities has been designated as the market maker for the Faalcon Concepts IPO.
New Listings This Week
Vodafone Idea Limited FPO
The allotment for the VI FPO is anticipated to be finalized on Tuesday, April 23, 2024. Following this, it is scheduled to be listed on both BSE and NSE, with a tentative listing date set for Thursday, April 25, 2024.
Greenhitech Ventures IPO
The allotment for the Greenhitech Ventures IPO was concluded on Thursday, April 18, 2024. Subsequently, the IPO is set to be listed on the BSE SME platform on April 22, 2024.
Ramdevbaba Solvent IPO
The allotment for the Ramdevbaba Solvent IPO was confirmed on Friday, April 19, 2024. As per plans, the SME IPO is scheduled to be listed on the NSE SME platform, tentatively on Tuesday, April 23, 2024.
Grill Splendour Services Limited (Birdy) IPO
The allotment for Birdy’s IPO was completed on Friday, April 19, 2024. Subsequently, the IPO is slated to be listed on the NSE SME platform, with a tentative listing date set for Tuesday, April 23, 2024.
Faalcon Concepts IPO
The allotment for the Faalcon Concepts IPO is anticipated to be finalized on Wednesday, April 24, 2024. Following this, the IPO is scheduled to be listed on the BSE SME platform, with a tentative listing date set for Friday, April 26, 2024.