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19 Nov 2024
The IPOs of Aasan Loans (Akme Fintrade India) and DEE Piping Systems (DEE Development Engineers Limited) are now open for subscription and will close on Friday, June 21st.
Aasan Loans, with a price range of Rs 114-Rs 120, aims to raise Rs 132 crore by issuing 1.1 crore new shares. The company focuses on providing loans to rural and semi-urban areas, specializing in vehicle and business financing. However, experts advise caution due to the competitive Indian NBFC sector, significant non-performing assets (NPAs), and past compliance issues.
DEE Piping Systems plans to raise Rs 418 crore through a combination of fresh issues and offers for sale (OFS). Of this, Rs 325 crore will be raised via fresh issue and Rs 93.01 crore through OFS. The price band is set between Rs 193-Rs 203. DEE Piping Systems provides piping solutions for the oil, gas, chemical, and power industries.
In addition to these mainboard IPOs, three small and medium enterprises (SMEs)—Falcon Technoprojects India, Durlax Top Surface, and GEM Enviro—are also opening for subscription today. Falcon Technoprojects aims to raise Rs 13.69 crore, offering mechanical and plumbing services including air conditioner, water supply, and lighting system installations, with shares priced at Rs 92.
Durlax Top Surface, with brands LUXOR and ASPIRON, manufactures solid surface materials, including UV acrylic solid sheets. It plans to raise Rs 40.80 crore, with Rs 28.56 crore through fresh issues and the remainder via OFS. The price band is set between Rs 65-68.
GEM Enviro, specializing in plastic waste management and recycling, aims to raise Rs 44.93 crore. Stock analyst Dilip Dawda recommends investing in this IPO for medium to long-term gains, noting the company has paid dividends over the past two years.
IPOs for GPES Solar and United Cotfab are closing today. GPES Solar, which opened on June 14th, is in the solar inverter and panel business and aims to raise Rs 31 crore. The IPO was oversubscribed by 408.3 times, with retail investors subscribing 519.57 times. Dawda advises that only experienced investors with surplus long-term funds should consider this IPO.
United Cotfab, which opened on June 13th and manufactures open-end cotton yarn, aims to raise Rs 36.29 crore entirely through a fresh issue. Despite being oversubscribed 48.27 times by retail investors, experts have expressed concerns about the company's profitability and sustainability.
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