The IPO market is buzzing with action once again. Starting Monday, May 26, investors are in for a busy week with four mainboard IPOs and five SME IPOs opening for public subscription. With several listings also lined up, the primary market is poised for an action-packed run.
Let’s take a look at these buffet of choices spread across industries as varied as energy storage, hospitality, logistics, and textiles.
Mainboard offerings
Aegis Vopak Terminals
With a Rs 2,800 crore fresh issue, Aegis Vopak Terminals leads the mainboard queue. Priced between the range of Rs 223to Rs 235 a share, the book-building will run from 26 May to 28 May. Retail investors must apply for at least 63 shares, translating to roughly Rs 14,805 at the top end. The allotment of shares is likely to be finalised on May 29 and trading will start on June 2. It is backed by heavyweight book-runners such as ICICI Securities and BNP Paribas.
Aegis Vopak Terminals is commanding a grey market premium (GMP) of Rs 15, which implies an estimated listing price of Rs 250. This marks a 6.38% premium over its upper price band of Rs 235 per share. However, it is important to note that GMP is unofficial and purely indicative. It can fluctuate significantly based on overall market sentiment.
Leela Hotels
Hot on its heels comes Leela Hotels with a jumbo Rs 3,500 crore issue. About Rs 2,500 crore is earmarked for fresh capital, while promoters will pare stake through a Rs 1,000 crore offer-for-sale. The Rs 413 to Rs 435 price band opens on 26 May alongside Aegis and closes on 28 May. A minimum retail application of 34 shares costs Rs 14,790 at the ceiling price. The allotment is likely to be on May 29 and listing on June 2.
Leela Hotels is also seeing traction in the unofficial market, with a premium of Rs 20. This suggests a possible listing price of Rs 455, around 4.6% higher than its upper band of Rs 435.
Prostarm Info Systems
Tech makes an appearance mid-week with Prostarm Info Systems. The power-supply specialist seeks Rs 168 crore via a fresh float of 1.60 crore shares. Priced at Rs 95 to Rs 105, the issue opens on 27 May and closes on 29 May. The shares should debut on June 3 on both the Indian exchanges NSE and BSE.
Meanwhile, Prostarm Info Systems is currently trading at zero GMP. This implies that the listing may happen close to its upper price band of Rs 105, as per the grey market trends.
Scoda Tubes
Rounding out the quartet is stainless-steel pipe maker Scoda Tubes. The company is raising Rs 220 crore, entirely through new equity. The Rs 130 to Rs 140 range will be open for bids from 28 May to 30 May, with listing pencilled in for June 4. The base retail ticket of 100 shares demands Rs 14,000 at the higher price.
On the other hand, Scoda Tubes ahead of its official opening on May 28, it is trading at a premium of Rs 16. This points to a potential listing price of Rs 156, translating to an 11.43% gain over its upper issue price of Rs 140.
SME corner: Five fresh faces
Blue Water Logistics
Beginning May 27, Blue Water Logistics will float a Rs 40.5 crore issue on NSE SME. The price band of the issue is ranged between Rs 132 to Rs 135 band. Allotment is expected on 30 May and listing on 3 June.
Astonea Labs
Diagnostic-kit maker Astonea Labs is tapping BSE SME for Rs 37.67 crore in fresh funds. The Rs 128 to Rs 135 offer shares the same subscription window, that is, from May 27 to May 29 and a likely June 3 debut. The company plans to ramp up R&D as preventive healthcare gains traction.
Nikita Papers
Paper-product supplier Nikita Papers eyes Rs 67.54 crore via NSE SME. Bids at Rs 95 to Rs 104 can be entered from May 27 through May 29, with trading expected to start June 3. Proceeds will go toward capacity additions in recycled paper.
NR Vandana Textile
From May 28, textile-processor NR Vandana offers a Rs 27.89 crore slice to the public in the Rs 42 to Rs 45 bracket. Listing is slated for June 4 on NSE SME.
Neptune Petrochemicals
Also opening 28 May, Neptune Petrochemicals seeks Rs 73.20 crore at Rs 115 to Rs 122 per share. The lubricants distributor plans to hit the boards on June 4, using fresh capital.
Listings to watch
While the new issues soak up bids, several recently closed IPOs will make their market debut. These include – Borana Weaves on May 27, Belrise Industries on May 28, and a double feature Dar Credit and Capital alongside Unified Data Tech on May 29.