The IPO market is slowly finding its rhythm again as a new week is set to begin. While the flow of issues remain measured, there is a fair bit of action, nevertheless.
Starting February 9, three companies will open their IPOs for subscription across the mainboard and SME segments. At the same time, four companies that have already completed their offerings are set to make their stock market debut.
Let’s take a look at the IPOs opening for subscription in the coming week and the key details investors should keep in mind.
Mainboard IPOs
Fractal Analytics: Big-ticket mainboard issue opens first
Fractal Analytics will be one of the key names to watch in the coming week as it is a mainboard IPO. The issue opens for subscription between February 9-11. The issue size stands at Rs 2,833.90 crore. This includes a combination of fresh shares and an offer-for-sale by existing shareholders.
The price band for the issue has been fixed at Rs 857-900 per share, with shares offered in lots of 16.
The company has indicated that the funds raised through the fresh issue will be used for multiple business needs. These include investing in its US subsidiary, reducing debt, expanding office infrastructure, strengthening research and development, supporting sales and marketing activities, and exploring acquisitions, along with routine corporate expenses.
Aye Finance: NBFC focused on small enterprises
Another mainboard IPO opening on February 9 is Aye Finance. This will also close on February 11. The Rs 1,010 crore issue includes both fresh equity and an offer-for-sale by existing investors.
The IPO is priced in the range of Rs 122-129 per share, and one lot consists of 116 shares.
Aye Finance plans to use the fresh capital mainly to strengthen its capital base and support future business growth. The company operates as a non-banking financial company and focuses on lending to micro and small enterprises.
SME IPO
Marushika Technology: SME issue follows mid-week
In the SME segment, Marushika Technology will enter the primary market. The IPO will open on February 12 and close on February 16. The issue size is Rs 26.97 crore and consists entirely of fresh equity shares.
The IPO has a price band of Rs 111-117 per share. The issue is scheduled to list on the NSE SME platform, with the tentative listing date set for February 19.
Marushika Technology is engaged in distributing IT and telecom infrastructure products. The company plans to use the proceeds from the issue to repay borrowings, meet working capital needs, and handle general corporate requirements.
IPO listings lined up next week
Alongside new subscriptions, the secondary market will also see fresh listings. Four companies are scheduled to debut on the stock exchanges next week.
Brandman Retail and Grover Jewells are set to list on February 11.
Biopol Chemicals and PAN HR Solutions are expected to make their market entry on February 13.