After a brief lull, the primary market is warming up again. While there may not be any mainboard IPOs opening this week with five trading days from May 5 to May 9, the action has not dried up entirely. Investors can still look forward to two new SME IPOs and a flurry of listings including one anticipated mainboard debut. The buzz is back on Dalal Street, and if you are tracking new listings, this week offers plenty to unpack.
Let’s take a look at what is in store this week-
Upcoming SME IPOs to open this week
Manoj Jewellers IPO
Manoj Jewellers, an SME issue, is set to open its public offering from May 5 to May 7. The price band of the issue set by the company is at Rs 54 per share. The company is offering a fixed price issue worth Rs 16.2 crore, with a total of 30 lakh shares up for grabs. Looking at the key players of the company, Jawa Capital Services is managing the IPO, while Skyline Financial Services is the registrar. Shreni Shares has been appointed as the market maker for this issue.
After the three day subscription process, the allotment of shares is scheduled to be finalised on May 8, and the listing is expected on May 12, on the BSE SME platform.
Srigee DLM IPO
Srigee DLM, another SME issue opening this week, will open its bidding on May 5 and close the subscription window on May 7. Through this issue, the company is aiming to raise Rs 16.98 crore. The price band for this book built issue is set between Rs 94 and Rs 99 per share. The allotment of shares is expected to be finalised on May 8, with the listing scheduled for May 12.
The book running lead manager of this IPO is GYR Capital Advisors, while Bigshare Services Pvt Ltd is the registrar. The market maker for the Srigee DLM IPO is Globalworth Securities.
Ongoing SME IPOs – Closing this week
Wagons Learning IPO (Closes May 6)
Wagons Learning, a learning and development company, is raising Rs 38.38 crore through its IPO, which includes both fresh shares and an OFS. The price band is set at Rs 78 to Rs 82 per share, with a minimum investment of Rs 1,24,800 for retail investors.
The IPO opened on May 2 and will close on May 6, with the company expected to list on the BSE SME platform on May 9. Khandwala Securities is the lead manager, while Cameo Corporate Services is the registrar and Rikhav Securities is the market maker.
Kenrik Industries IPO (Closes May 6)
Kenrik Industries IPO, which opened on April 29, is set to close on May 6, with the listing expected on May 9, on the BSE SME platform. The price band for the IPO is Rs 25 per share, offering a fresh issue of nearly 35 lakh shares, aiming to raise Rs 8.75 crore.
Key players involved in the IPO include Turnaround Corporate Advisors as the lead manager, Skyline Financial Services as the registrar, and MNM Stock Broking as the market maker.
Retail investors need to invest a minimum of Rs 1,50,000 for a lot size of 6,000 shares. The allotment for the IPO will be finalized shortly after the issue closes, and shares will be credited to successful applicants’ demat accounts ahead of the listing.
Mainboard and SME listings to watch this week
Ather Energy (Mainboard listing)
EV major Ather Energy is expected to debut on the bourses on Tuesday, May 6. The share allotment is likely to be finalised by May 5.
SME listings on radar
Iware Supplychain Services: NSE SME listing scheduled on May 6
Arunaya Organics: Listing on NSE SME platform on May 7
Wagons Learning: BSE SME listing on May 9
Kenrik Industries: BSE SME listing also scheduled for May 9