The upcoming week (February 9-15) will see two mainboard IPOs and four SME IPOs opening for bidding. With a mix of mainboard and SME IPOs, the week is set to be action-packed, keeping investors busy with a variety of options. Additionally, six companies are set to debut on the stock exchanges.
Here’s a look at the key IPOs hitting the market:
Mainboard IPO
In the coming week, two mainboard companies – Hexaware Technologies and Ajax Engineering are set to launch their public issues, alongside four SME IPOs.
1. Ajax Engineering
Ajax Engineering is set to launch its Rs 1,269.35 crore IPO on February 10, with bidding open until February 12. This mainboard IPO is a complete OFS which means that the existing shareholders will sell 2.02 crore shares, and the company itself won’t receive any funds from the issue.
The price band for this mainboard issue is set between Rs 599 to 629 per share by the company, with a minimum lot size of 23 shares for investors. After the closure of the three-day bidding process, the allotment of the shares is expected on February 13, followed by a listing on Indian bourses on February 17.
2. Hexaware Technologies
Hexaware Technologies, backed by private equity giant Carlyle Group, is returning to the stock market after being delisted. With a price band set between the range of Rs 674 to Rs 708 per share, this mainboard issue is scheduled to open for subscription from February 12 to 14. The tentative date for the company’s stock market debut is scheduled on February 19.
The IPO is purely an OFS, which means that no new shares are being issued.
SME IPOs
Apart from the two mainboard issues, four more SME IPOs are set to open for bidding next week. These include –
1. Chandan Healthcare IPO
Chandan Healthcare, a Rs 107.36 crore SME issue will be open for subscription from February 10 to 12. The company has set the price band at Rs 151 to Rs 159 per share, and investors need to buy a minimum lot of 800 shares, which means an investment of at least Rs 1,27,200.
After the bidding and allotment process, the shares will be listed on the NSE Emerge platform on February 17.
2. Voler Car IPO
Voler Car, a car rental services company, is set to open its Rs 27 crore IPO for subscription from February 12 to 14. The company is offering 30 lakh fresh shares, with a price band of Rs 85 to 90 per share.
The Voler Car IPO is backed by GYR Capital Advisors, which is managing the issue as the lead book runner. Kfin Technologies is handling the share allotment and investor applications as the registrar. Meanwhile, Wiinance Financial Services is the market maker. The shares will be listed on the NSE Emerge platform on February 19.
3. PS Raj Steels IPO
PS Raj Steels IPO will be open for bidding from February 12 to 14. The company is offering a fresh issue of shares, with a price band of Rs 132 to 140 per share.
The issue aims to raise Rs 28.28 crore through a fresh issue of 20.20 lakh shares. The IPO is managed by Khambatta Securities as the lead book runner, with Bigshare Services handling investor applications as the registrar. Nikunj Stock Brokers will act as the market maker for the issue. The shares are expected to be listed on the NSE Emerge platform on February 19.
4. Maxvolt Energy Industries IPO
Maxvolt Energy Industries, a lithium-ion battery maker, plans to raise Rs 54 crore through its IPO from February 12 to February 14. The issue includes a fresh issue of Rs 43.2 crore and an OFS of Rs 10.8 crore. The price band is set at Rs 171 to Rs 180 per share, with a minimum investment of Rs 1.44 lakh (800 shares per lot). The listing is set for February 19 on NSE Emerge.
Ongoing IPOs
Several IPOs that opened last week will continue their bidding into this coming week including Readymix Construction IPO and Solarium Green IPO will close on February 10, while Eleganz Interiors IPO will close on February 11.
IPO Listings next week
Six IPOs are set to debut on the stock exchanges in the coming week. Chamunda Electrical will list on February 11, followed by Ken Enterprises Ltd and Amwill Healthcare on February 12.
Readymix Construction Machinery and Solarium Green Energy will be listed on February 13, while Eleganz Interiors will make its debut on February 14.