Dalal Street is in for a busy week with seven IPOs opening for subscription. Five of them will debut on the mainboard, while two will be listed on the SME platform. Alongside these launches, several companies are also lined up for listing on the exchanges.
From a supermarket chain and a solar panel maker to a shipping company, the line-up this week covers a wide mix of sectors. Here’s a look at the public issues making their way this week.
Mainboard IPOs
Patel Retail IPO
Patel Retail, a supermarket chain that began with a small store in Ambernath back in 2008 is opening its IPO this week. Currently, it runs 43 outlets across suburban Maharashtra under the brand Patel’s R Mart.
The company is coming to the market with a Rs 243 crore IPO, priced between Rs 237 to Rs 255. The money raised will mainly go toward reducing debt and funding day-to-day operations. The IPO opens on August 19 and closes on August 21, with listing expected on August 26.
Vikram Solar IPO
If size is the metric, Vikram Solar is the heavyweight this week. Its Rs 2,079 crore IPO, opening on August 19. It is among the largest from the renewable energy space. The price band has been fixed at Rs 315 to Rs 332 per share.
Headquartered in Kolkata, the company is already a big name in the solar panel business with a production capacity of 4.5 GW. The funds will be used to expand capacity further under its Phase I and Phase II projects.
Gem Aromatics IPO
Another interesting name is Gem Aromatics, a Mumbai-based manufacturer of essential oils, aroma chemicals, and other speciality ingredients. With a price band of Rs 309 to Rs 325, the IPO includes both fresh shares and an offer for sale. The IPO opens for bidding on August 19 and will close its subscription window on August 21.
The company plans to raise about Rs 175 crore to repay borrowings and strengthen operations.
Shreeji Shipping Global IPO
Shreeji Shipping Global, part of the Jamnagar-based Shreeji Group, is preparing a Rs 411 crore IPO. This is a 100% fresh issue with no promoter sale involved. This issue will also open for bidding on August 19. The price band has been fixed at Rs 240 to Rs 252, with listing slated for August 26.
The company operates on the west coast of India, focusing on non-major ports and coastal trade. A large chunk of the IPO proceeds will go toward buying dry bulk carriers in the supramax category.
Mangal Electrical Industries
Mangal Electrical Industries will open its Rs 400 crore IPO for subscription on August 20. The issue, which closes on August 22, is entirely a fresh issue of 71 lakh equity shares. The company has fixed a price band of Rs 533 to Rs 561 per share.
The basis of allotment is expected on August 25, while the shares are scheduled to list on both the BSE and NSE on August 28.
SME segment IPOs
Studio LSD IPO
Breaking away from the industrial and retail stories is Studio LSD, a multimedia production house. It will raise about Rs 70 crore through the NSE Emerge platform.
Priced between Rs 48 to Rs 51, the funds will be used for expansion, working capital, and general purposes. The IPO opens on August 18 and closes on August 20.
LGT Business Connextions IPO
LGT Business Connextions is preparing to open its IPO on August 19. The Rs 28.09 crore issue is being brought to the market at a fixed price of Rs 107 per share. It includes a fresh issue of 24 lakh equity shares worth Rs 25.28 crore and an offer for sale of 3 lakh shares amounting to Rs 2.81 crore. The subscription window will remain open till August 21.
The basis of share allotment is expected on August 22, while the company’s stock is scheduled to debut on the BSE SME platform on August 26.
IPO listings to watch
This week will also see several IPOs making their market debut. In the mainboard space, Bluestone Jewellery is scheduled to list on August 19, while Regaal Resources will make its debut a day later on August 20.
The SME segment will be busier, with Medistep Healthcare, ANB Medical Cast, and Star Imaging & Path Lab all set to list on August 18.
The following day, August 19, Icodex Publishing Solutions will make its debut on the BSE SME platform.
Later in the week, Mahendra Realtors & Infrastructure is scheduled to list on August 20 on NSE SME, while Spunweb Nonwoven will debut on August 22 on the NSE SME platform.
Wrapping up the week, Monica Alcobev is likely to be listed on the BSE SME platform on August 23.