Akash Jha
The momentum in the main market is set to pick up steam in the week beginning September 11. Six businesses are prepared to raise more than Rs. 4,000 crore from the public, and five listings are queuing up for their debut within this time period.
The mainboard IPOs
On September 13, the first initial public offering (IPO) in the mainboard segment will begin trading for a price range of Rs 983 to Rs 1,035 per share from wire and cable products business RR Kabel. Fresh issues of Rs 180 crore and an OFS of 1.72 crore equity shares amounting to Rs 1,784.01 crore by six selling shareholders, including promoter Mahendrakumar Rameshwarlal Kabra and private equity firm TPG Asia VII SF Pte Ltd (the company’s largest public shareholder), are expected to raise a total of Rs 1,964.01 crore for the company. The closing date for bids is September 15, and the first day the anchor book is available is September 12.
On September 14th, privately held SAMHI Hotels will release an initial public offering. The last day to order this issue is September 18. This includes an additional Rs 1,200 crore in shares and an offer for sale of 1.35 crore equity shares by three shareholders: Blue Chandra Pte Ltd (a Singaporean investment entity), Goldman Sachs, and GTI Capital Alpha.
Samhi Hotels has not yet disclosed the price range for the offering, but a rough estimate using the price at which Blue Chandra sold its 8.4 percent ownership in the company last week yields a figure of Rs 1,370.1 crore.
From September 14-18, investors can participate in the public offering of fintech-SaaS firm Zaggle Prepaid Ocean Services. There would be new issues of Rs 392 crore, and an open market sale of 1.04 crore. Although the price range has not yet been announced, the total issue size is estimated to be Rs 563.38 crore if the offer price is regarded to be Rs 164 per share, the price at which the pre-IPO placement had been completed by the firm in August. The company provides spend management solutions to corporations.
EMS, a provider of wastewater management services, will end its initial public offering (IPO) on September 12. The IPO is valued at Rs 321.24 crore. On the first day of bidding, September 8, the offer was subscribed 3.71 times at a price range of Rs 200–211 per share. The corporation was established in 2012, and its primary activity is the provision of water and wastewater collection, treatment, and disposal services.
The foundation for allotting Jupiter Life Line Hospitals initial public offering (IPO) shares will be finalized between NSE and the hospital network on September 13.
The small and medium enterprise segment
Next week, on September 12, the first IPO in the SME segment will start, with a price band of Rs 60-65 per share for Chavda Infra, a provider of construction and allied services to residential and commercial developments in Gujarat. The public issue will end on September 14 and will solely consist of a new issue of 66.56 lakh equity shares, which the business hopes would bring in Rs 43.26 crore.
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Kundan Edifice, a provider of electronic manufacturing services, will open its initial public offering on September 12 and conclude it on September 15. At a price of Rs 91 per share, the company hopes to raise a total of Rs 25.22 crore from the market.
The third public issuance in the SME section will be Cellecor Gadgets, which is supported by the Tano Investment Opportunities Fund, which is managed by the California-based alternative investment firm Tano Capital LLC. The range of Rs 87–92 per share will be the opening price on September 15. The IPO is an attempt by the Delhi-based electronics firm to raise 50.77 crore Indian rupees.
Meson Valves India, Jiwanram Sheoduttrai Industries, and Unihealth Consultancy are the next three public issues that will end trading on September 12. On the first day of bidding on September 8th, each was oversubscribed by a factor of 7.9, 5.59, and 1.19, respectively.
Listings
Rishabh Instruments, a manufacturer of test and measuring instruments, will go public on September 11 after finishing its initial public offering (IPO) last week with a subscription rate of 31.65 times. On the same day, Ratnaveer Precision Engineering, a manufacturer of stainless steel goods, will also go public. Originally scheduled for September 14, Ratnaveer’s listing date has been moved up. Last week, 94 people subscribed to its public issue.
According to anonymous analysts, the grey market price for Ratnaveer IPO shares was almost 50% more than the issue price of Rs 98 per share, and the grey market pricing for Rishabh Instruments was roughly 15% higher than the offer price of Rs 441.
IPO shares can be bought and sold prior to their formal listing on the grey market.
Basilic Fly company, a visual effects company based in Chennai, will be among the small and medium-sized enterprises (SMEs) whose shares will be listed on the NSE Emerge on September 11 (preceded from September 13). There were 286 and 61 takes on the offer.
Also read :- Yatra Online sets price band at Rs 135-142 for its Rs 775 crore IPO
On September 13, in accordance with their respective IPO schedules, promotional marketing agency Pramara Promotions and specialty chemicals and API trader Saroja Pharma Industries India will also make their debut on the NSE Emerge. Their initial public offerings were bought around 9 and 26 times over.
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