The primary market continues to be abuzz with activity. This week, two companies from the SME segment – Nukleus Office Solutions and Shreenath Paper Products will launch their public offerings.
Adding to the action, shares of five companies are set to be listed on the stock exchanges this week.
Among them, Quality Power Electrical IPO from the mainboard segment will also make its debut, which was expected to be listed last week.
Let’s take a look at the two new SME IPOs opening for subscription, issue’s continuing their bids from last week, listing and other key details-
Nukleus Office Solutions IPO
Nukleus Office Solutions IPO will open for subscription on Monday, February 24, with a fixed issue price of Rs 234 per share.
This public issue consists entirely of a fresh equity sale of 13.54 lakh shares, with no Offer for Sale component. Through this offering, the company aims to raise Rs 31.7 crore.
After the three days bidding process, the allotment is likely to be on February 28, and the listing is scheduled on March 4 on the NSE SME platform.
Sundae Capital Advisors is the lead manager of the issue. On the other hand Bigshare Services will act as the registrar of the IPO.
Based in Uttar Pradesh, the company specialises in co-working and managed office spaces across Delhi NCR. It provides businesses with fully furnished workspaces, including dedicated desks, private cabins, meeting rooms, startup zones, and virtual offices. Furthermore, it caters to a diverse range of clients such as startups, SMEs, corporates, and entrepreneurs offering office setups.
Shreenath Paper Products IPO
Shreenath Paper Products IPO will open for bidding on Tuesday, February 25, and close on Friday, February 28.
With a price of Rs 44 per share, this SME issue consists entirely of a fresh equity issue of 53.1 lakh shares, with an aim to raise Rs 23 crore.
The lead manager of the issue Galactico Corporate Services and the registrar is Bigshare Services.
The allotment of shares is likely to be finalised on March 3. After these processes, the company is set to make its debut on BSE SME platform on March 5.
Looking at the company profile, it operates in the paper-based supply chain sector, helping industries procure specialised paper products. It works with businesses that require coating-based paper, food-grade paper, machine-glazed paper, and pressure-sensitive adhesive paper.
Ongoing SME IPOs: Final days for subscription
Apart from the new IPOs launch, three ongoing issues are set to close their subscriptions this week.
HP Telecom India, which opened its IPO on February 20, will wrap up bidding on February 24. Similarly, Swasth Foodtech India, which also launched on February 20, will close on the same day.
Meanwhile, Beezaasan Explotech, with a price range of Rs 165 to Rs 175 per share, began its subscription on February 21 and will remain open until February 25.
IPO allotment: Key dates for investors
HP Telecom India (NSE SME) and Swasth Foodtech (BSE SME) will finalise their allotments on February 25. Meanwhile, Beezaasan Explotech (BSE SME) will complete its allotment process on February 27, followed by Nukleus Office Solutions (BSE SME) on February 28.
Beyond the IPOs: Listings to watch
Apart from these SME IPOs, next week will also see the stock market debut of five companies.
Quality Power IPO (mainboard), along with Tejas Cargo and Royalarc Electrodes (both NSE SME), is set to be listed on February 24.
Meanwhile, HP Telecom India and Swasth Foodtech, listed on the NSE SME and BSE SME platforms respectively, will make their market debut on February 28.