The stock market feels a little shaky due to the India-Pakistan tension. As geopolitical tension simmer and market volatility keeps large corporations cautious, the mainboard IPO segment has gone silent. This week again, there is no new mainboard IPO opening. But the SME market is not hitting pause. Two new SME IPOs are opening for subscription, and two fresh listings are lined up.
Here is a look at what is brewing on the IPO street this week–
IPOs to watch this week
Integrity Infrabuild Developers IPO
Kicking off on May 13, this fixed-price issue by Mumbai-based Integrity Infrabuild Developers is looking to raise Rs 12 crore. The company is offering 12 lakh equity shares at Rs 100 apiece, and the entire issue is a fresh offer. The issue will close on May 15, with allotment likely by May 16. The shares are scheduled to list on NSE SME on May 20. Aryaman Financial Services is managing the issue, and Aryaman Capital Markets is acting as the market maker.
Accretion Pharmaceuticals IPO
Another SME IPO entering the market this week is Accretion Pharmaceuticals. This book-built issue opens on May 14 and aims to raise Rs 29.75 crore through a fresh issue of 29.46 lakh shares. The price band is set at Rs 96 to Rs 101 per share. The IPO will close on May 16, with allotment expected on May 19 and a tentative listing on May 21. Jawa Capital Services is managing the issue, while Gretex Share Broking is the market maker.
Ongoing IPO
Virtual Galaxy Infotech IPO
While the new issues are creating a buzz, there is also an ongoing IPO from last week that is still open for investors. Virtual Galaxy Infotech, a tech-focused company, launched its book-built issue worth Rs 93.29 crore on May 9. The price band is between Rs 135 and Rs 142 per share. The IPO will close on May 14, with listing expected on May 19 on NSE SME. Smart Horizon Capital is the lead manager, and Alacrity Securities is the market maker.
IPO listings to watch this week
Apart from new issues, this week also sees two SME companies making their stock market debut on May 12. Manoj Jewellers and Srigee DLM are set to list on the BSE SME platform.