The IPO market is set to be abuzz with several new issues. Seven companies are opening their IPOs between March 23-27. From a rice exporter to a pharma firm, and a power solutions provider, investors will have plenty to follow. This week’s calendar features three mainboard IPOs and four small and medium enterprise (SME) issues
In addition, four companies are set to make their stock exchange debut.
Lets ‘s take a look –
Mainboard IPO
In the mainboard space, three IPO will open for bidding. This includes –
Sai Parenteral’s IPO
Sai Parenteral’s, a company focused on pharmaceutical formulations, will open its IPO from March 24-27. The price band is set between Rs 372-392 per share.
The company aims to raise Rs 408.79 crore in total, with Rs 285 crore coming from fresh shares and Rs 123.79 crore from an offer-for-sale by existing shareholders.
The funds from the IPO are placed for several purposes, including expanding and upgrading manufacturing facilities, paying down debt, setting up a new R&D centre, meeting working capital needs, and general corporate use.
Amir Chand Jagdish Kumar IPO
Investors with an interest in the food sector will find Amir Chand Jagdish Kumar (Exports) IPO on their radar. Scheduled from March 24-27, this offering is purely a fresh issue of 2.08 crore shares, amounting to roughly Rs 440 crore. The price band is Rs 201-212 per share, with a lot size of 70 shares.
The proceeds are primarily aimed at funding working capital requirements and other general corporate expenses.
Powerica IPO
Power solutions provider Powerica will also open its IPO from March 24-27. The company is looking to raise Rs 1,100 crore, divided into a Rs 700 crore fresh issue and a Rs 400 crore offer-for-sale by promoter trusts.
The price per share is set at Rs 375–395.
Of the fresh issue proceeds, around Rs 525 crore will go toward reducing the company’s debt, while the remaining will support general corporate activities.
SME IPO
Four SME IPOs are scheduled alongside the mainboard issues. These includes –
Tipco Engineering India will open its Rs 60.55 crore issue from March 23-25, with a lot size of 3,200 shares.
Highness Microelectronics will be available from March 24-27 with 2,400 shares per lot.
Vivid Electromech plans its subscription from March 25 -30.
Emiac Technologies will open its fresh issue on March 27, closing April 8, though the final price band and lot size are yet to be announced.
Upcoming listings
In addition to the IPOs, several companies are set to debut on the stock exchanges next week.
Innovision will list on March 23, GSP Crop Science on March 24, and both Raajmarg Infra Investment Trust and Novus Loyalty are expected to list on March 25.