The primary market is back in action after a slow start to the new financial year FY25 with nine new initial public offerings (IPO) to hit Dalal Street next week, despite being general elections month. Other than public issues, around four new listings are also scheduled for the upcoming week.
The primary market will witness opening of three new IPOs in the mainboard segment and six new IPOs in the small and medium enterprise (SME) segment.
Since 2004, there hasn’t been a single IPO launch during the month of May in the last four General Election cycles. Typically, the period from April to June during these years has been slow for the primary markets due to election uncertainty. However, this trend is expected to change now as, 3 mainboard IPOs of Indegene Limited, TBO Tek Limited and Aadhar Housing Finance are set to be launched next week to raise 6,392 crores,” said Experts
Here’s the list of IPOs which will remain open for subscription in the coming week –
Indegene IPO
Indegene IPO opens for subscription on May 6, 2024 and closes on May 8, 2024. It is a book-built issue, aiming to raise ₹1,841.76 crores. The IPO comprises a combination of a fresh issue of 1.68 crore shares, valued at ₹760.00 crores, and an offer for sale of 2.39 crore shares, totaling ₹1,081.76 crores.
The price band of Indegene IPO has been set at ₹430 to ₹452 per share. Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory And Securities (India) Pvt Ltd serve as the book running lead managers for the Indegene IPO, with Link Intime India Private Ltd appointed as the registrar for the issue.
TBO Tek IPO
TBO Tek IPO will open for subscription on May 8, 2024 and will close on May 10, 2024. The is a book-built issue of ₹1,550.81 crore. This offering comprises a fresh issue of 0.43 crore shares, totaling ₹400 crores, alongside an offer for sale of 1.25 crore shares, amounting to ₹1,150.81 crore.
The price band of the upcoming IPO has been fixed at ₹875 to ₹920 per share. Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited serve as the book running lead managers for the TBO Tek IPO, with Kfin Technologies Limited appointed as the registrar for the issue.
Aadhar Housing Finance IPO
Aadhar Housing Finance IPO will open for bidding on May 8, 2024 and close on May 10, 2024. It is a book built issue of ₹3,000 crore. The upcoming IPO is a combination of fresh issue of 3.17 crore shares aggregating to ₹1,000.00 crore and offer for sale of 6.35 crore shares aggregating to ₹2,000 crore.
The price band has been fixed at ₹300 to ₹315 per share. ICICI Securities Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, and SBI Capital Markets Limited have been appointed as the book running lead managers for the Aadhar Housing Finance IPO, with Kfin Technologies Limited serving as the registrar for the issue.
Refractory Shapes IPO
Refractory Shapes IPO opens for subscription on May 6, 2024 and closes on May 9, 2024. The IPO is a book built issue of ₹18.60 crores, comprising entirely of a fresh offering of 60 lakh shares.
The SME IPO price band is set at ₹27 to ₹31 per share. Shreni Shares Limited serves as the book running lead manager for the Refractory Shapes IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Additionally, Shreni Shares acts as the market maker for the Refractory Shapes IPO.
Winsol Engineers IPO
Winsol Engineers IPO opens for subscription on May 6, 2024 and closes on May 9, 2024. The SME IPO is a book built issue of ₹23.36 crores and is entirely a fresh issue of 31.15 lakh shares.
The SME IPO price band is set at ₹71 to ₹75 per share. Beeline Capital Advisors Pvt Ltd acts as the book running lead manager for the Winsol Engineers IPO, with Kfin Technologies Limited serving as the registrar for the issue. Spread X Securities has been appointed as the market maker for the Winsol Engineers IPO.
Finelistings Technologies IPO
Finelistings Technologies IPO opens for subscription on May 7, 2024 and closes on May 9, 2024. The IPO is a fixed price issue of ₹13.53 crores and is entirely a fresh issue of 11 lakh shares.
The SME IPO price band is set at ₹123 per share. Fedex Securities Pvt Ltd serves as the book running lead manager for the Finelistings Technologies IPO, with Skyline Financial Services Private Ltd appointed as the registrar for the offering.
Silkflex Polymers IPO
Silkflex Polymers IPO opens for subscription on May 7, 2024 and closes on May 10, 2024. The SME IPO is a fixed price issue of ₹18.11 crores and is entirely a fresh issue of 34.82 lakh shares.
The price band is ₹52 per share. Shreni Shares Limited serves as the book running lead manager for the Silkflex Polymers IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the offering. Additionally, Shreni Shares acts as the market maker for the Silkflex Polymers IPO.
TGIF Agribusiness IPO
TGIF Agribusiness IPO opens for subscription on May 8, 2024 and closes on May 10, 2024. This IPO constitutes a fixed-price offering of ₹6.39 crores and is entirely a fresh issue of 6.88 lakh shares.
The IPO price band is fixed at ₹93 per share. Hem Securities Limited serves as the book running lead manager for the TGIF Agribusiness IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Hem Finlease acts as the market maker for the TGIF Agribusiness IPO.
Energy Mission Machineries IPO
Energy Mission Machineries IPO opens for subscription on May 9, 2024 and closes on May 13, 2024. The SME IPO is a book built issue of ₹41.15 crores. The issue is entirely a fresh issue of 29.82 lakh shares.
The SME IPO price band has been fixed at ₹131 to ₹138 per share. Hem Securities Limited serves as the book running lead manager for the Energy Mission Machineries IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the offering.
New Listings –
Storage Technologies Racks and Rollers IPO: The allotment for the Storage Technologies Racks and Rollers IPO is expected to be finalized on Monday, May 6, 2024. The IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 8, 2024.
Sai Swami Metals and Alloys IPO: The allotment for the Sai Swami Metals and Alloys IPO is expected to be finalized on Monday, May 6, 2024. The SME IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 8, 2024.
Amkay Products IPO: The allotment for the Amkay Products IPO is expected to be finalized on Monday, May 6, 2024. The SME IPO will list on BSE SME with tentative listing date fixed as Wednesday, May 8, 2024.
Slone Infosystems IPO: The allotment for the Slone Infosystems IPO is expected to be finalized on Wednesday, May 8, 2024. The IPO will list on NSE SME with tentative listing date fixed as Friday, May 10, 2024.
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