Planning your IPO calendar for the week ahead? With six new public issues lined up including one major mainboard IPO and five SME offerings, investors have a lot to explore. From airport food chains to pharma and power solution companies, this week’s IPO line-up brings a mix of sectors to the market.
So which ones are worth tracking? What is the GMP buzz and the listing scheduled this week? Let’s take a look at all the key details you need to know.
The Mainboard contender
Travel Food Services
Travel Food Services, the Mumbai-based operator of quick-service restaurants and lounges across India and Malaysia airports, will open its Rs 2,000 crore offering on July 7. The company plans to sell 1.82 crore existing shares at Rs 1,045 to Rs 1,100 per share, with investors required to apply for a minimum of 13 shares.
The issue closes on July 9, with allotment expected on July 10 and listing scheduled for July 14 on both NSE and BSE.
Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets (India), and Batlivala & Karani Securities India serve as book-running lead managers.
Shares of Travel Food Services are trading at a premium of Rs 71 in the grey market ahead of its opening. This suggests a potential listing price of Rs 1,171, which is about 6.45% higher than the issue’s upper price band of Rs 1,100. However, this is not the official listing price and may change based on market dynamics.
The SME offerings
GLEN Industries
GLEN Industries will open its BSE SME issue on July 8, seeking Rs 63.02 crore through a fresh issue of 64.97 lakh shares. The company manufactures thin-wall food containers and biodegradable straws for the hospitality and food packaging sectors.
The share price is set at Rs 92 to Rs 97, with a minimum application of 4,800 shares across two lots. The issue closes on July 10, with GYR Capital Advisors as the lead manager.
GLEN Industries is trading at a grey market premium of Rs 25, indicating a possible listing at Rs 122, which is approximately 25.77% above its issue upper price of Rs 97.
Chemkart India
Chemkart India will open its booking from July 7 to July 9, raising Rs 80.08 crore through a combination of fresh issue (Rs 64.48 crore) and offer for sale (Rs 15.60 crore). The nutritional supplements manufacturer has priced shares at Rs 236 to Rs 248, requiring a minimum investment of 2,400 shares.
The company plans to use funds for establishing manufacturing capabilities through its subsidiary Easy Raw Materials, debt repayment, and corporate purposes.
Currently, Chemkart India’s IPO is trading at par, meaning there is no premium or discount in the grey market. The estimated listing is expected around the issue’s upper band of Rs 248.
Smarten Power Systems
The power sector company will open its Rs 50.01 crore issue on July 7, comprising a fresh issue of Rs 40.01 crore and OFS of Rs 10 crore. Shares are priced at Rs 100 each, with investors needing to purchase a minimum of 2,400 shares. The subscription period runs until July 9.
Smarten Power Systems is also trading flat in the grey market, with an expected listing around its issue price of Rs 100.
CFF Fluid Control
CFF Fluid Control schedules its Rs 87.75 crore fresh issue from July 9 to July 11. The company has fixed the share price at Rs 585, with a minimum lot size of 400 shares for individual investors.
CFF Fluid Control is seeing no current premium in the unofficial market. As a result, the listing is estimated around the upper price band of Rs 585.
Asston Pharmaceuticals
The pharmaceutical company will open its Rs 27.41 crore fresh issue on July 9, running until July 11. Shares are priced between Rs 115 to Rs 123, with investors required to purchase at least 2,000 shares.
Asston Pharmaceuticals shares trading at a Rs 10 premium. This implies a potential listing price of Rs 133, or 8.13% higher than the issue’s upper price band of Rs 123.
Market listings schedule
Apart from these new openings, several IPO listings are also happening this week. This include-
Pushpa Jewellers, Silky Overseas, Vandan Foods, Cedaar Textile, and Marc Loire – All listing on July 7
Crizac IPO – Listing on July 9
Cryogenic OGS IPO – Listing on July 10
White Force IPO – Listing on July 10
Meta Infotech IPO – Listing on July 11
