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19 Nov 2024
The primary market is all set to be back in action after a break with opening of four new initial public offerings (IPOs), including one mainboard and three small and medium enterprise (SME) public issues.
The IPO market kickstarted the new financial year FY25 in slow, however, market experts are optimistic about the upcoming public issues.
“Despite a slow start at the beginning of the new financial year, we are exceedingly optimistic about the initial public offerings scheduled for the remainder of the year. This optimism is fueled by a confluence of factors, including the surge in domestic capital, enhanced governance practices, the vibrant spirit of Indian entrepreneurship, and favorable government policies bolstered by FDI support," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
Last week saw the opening of Vodafone Idea follow-on public offerings aiming to raise over ₹18,000 crore. The mainboard segment will witness the opening of JNK India IPO for subscription in the coming week to raise around ₹649 crore.
JNK India IPO opens for subscription on April 23, 2024 and closes on April 25, 2024. It is a book built issue of ₹649.47 crores and is a combination of fresh issue of 0.76 crore shares aggregating to ₹300 crores and offer for sale of 0.84 crore shares aggregating to ₹349.47 crores.
The price band of the IPO has been set at ₹395 to ₹415 per share. Iifl Securities Ltd and ICICI Securities Limited are the book running lead managers of the JNK India IPO, while Link Intime India Private Ltd is the registrar for the issue.
VI FPO bidding opened for subscription on April 18, 2024 and will close on April 22, 2024. The total offer size comprises of fresh issue of equity shares aggregating up to ₹18,000 crore.
The price band of VI FPO is ₹10 to ₹11 per share. Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the book running lead managers of the VI FPO, while Link Intime India Private Ltd is the registrar for the issue.
Varyaa Creations IPO opens for subscription on April 22, 2024 and closes on April 25, 2024. The SME IPO is a fixed price issue of ₹20.10 crores and is entirely a fresh issue of 13.4 lakh shares.
The price band of the SME IPO is ₹150 per share. Inventure Merchant Banker Services Pvt Ltd is the book running lead manager of the Varyaa Creations IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Varyaa Creations IPO is Svcm Securities.
Emmforce Autotech IPO opens for subscription on April 23, 2024 and closes on April 25, 2024. The SME IPO is a book built issue of ₹53.90 crores and is entirely a fresh issue of 55 lakh shares.
Emmforce Autotech IPO price band is set at ₹93 to ₹98 per share. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Emmforce Autotech IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Emmforce Autotech IPO is Spread X Securities.
Shivam Chemicals IPO opens for subscription on April 23, 2024 and closes on April 25, 2024. The SME IPO is a fixed price issue of ₹20.18 crores and is entirely a fresh issue of 45.87 lakh shares.
Shivam Chemicals IPO price is ₹44 per share. Aryaman Financial Services Limited is the book running lead manager of the Shivam Chemicals IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Shivam Chemicals IPO is Shreni Shares.
Faalcon Concepts IPO bidding opened for subscription on April 19, 2024 and will close on April 23, 2024. The SME IPO is a fixed price issue of ₹12.09 crore and is entirely a fresh issue of 19.5 lakh shares.
Faalcon Concepts IPO price is ₹62 per share. Navigant Corporate Advisors Ltd is the book running lead manager of the Faalcon Concepts IPO, while Beetal Financial & Computer Services (P) Limited is the registrar for the issue. The market maker for Faalcon Concepts IPO is Alacrity Securities.
The allotment for the VI FPO is expected to be finalized on Tuesday, April 23, 2024. It will list on BSE, NSE with tentative listing date fixed as Thursday, April 25, 2024.
The allotment for Greenhitech Ventures IPO was finalized on Thursday, April 18, 2024. The IPO will be listed on BSE SME on April 22, 2024.
The allotment for Ramdevbaba Solvent IPO was finalized on Friday, April 19, 2024. The SME IPO will list on NSE SME with tentative listing date fixed as Tuesday, April 23, 2024.
The allotment for Birdy's IPO was finalized on Friday, April 19, 2024. The IPO will list on NSE SME with tentative listing date fixed as Tuesday, April 23, 2024.
The allotment for the Faalcon Concepts IPO is expected to be finalized on Wednesday, April 24, 2024. The IPO will list on BSE SME with tentative listing date fixed as Friday, April 26, 2024.
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