Upcoming IPO: The IPO market has been sluggish for quite some time. No new issue has been launched in the Mainboard segment for the last one month. But there is constant activity in the SME segment. This week (starting March 24), four new SME companies are going to knock on Dalal Street, which are planning to raise a total of ₹ 185 crore.
Desco Infratech is a company in the infrastructure sector. Its IPO can be subscribed from March 24 to March 26. The company is going to raise ₹ 30.75 crore through IPO. This will be an issue of 20.5 lakh new shares altogether. The company has fixed the price band of its shares at ₹ 147-₹ 150 per share.
This Jaipur based company does the work of crude caffeine processing and is aiming to raise ₹73.81 crore. In this IPO, 42.03 lakh new shares worth ₹50.02 crore will be issued. At the same time, the promoters will sell 19.99 lakh shares worth ₹23.79 crore. The price band has been fixed at ₹113-₹119 per share. Its opening will be on March 25 and closing on March 27.
Lithium ion battery maker ATC Energies System is also bringing its IPO this week. It can be subscribed from 25 to 27 March. The company intends to raise ₹ 63.76 crores. This IPO will be of 54.03 lakh shares. It will have 43.23 lakh new shares (₹ 51.02 crores), while the promoters will sell 10.8 lakh shares (₹ 12.74 crores). The price band of this issue has been fixed at ₹ 112-₹ 118 per share.
It will open on March 26 and can be subscribed till March 28. Shopify app developer company Identixweb is going to raise ₹ 16.66 crore from SME IPO this week. 30.8 lakh shares will be issued under this issue, the price band of which has been kept at ₹ 51-₹ 54 per share.
New listings in the SME market this week
- Apart from the new IPO, five SME companies are going to be listed in the stock market this week:
- Paradeep Parivahan (Logistics Company) – March 24 (BSE SME)
- Divine Hira Jewelers (Gold Jewelery Retailer) – 24 March (NSE Emerge)
- Grand Continent Hotels (Bengaluru-based hotel chain) – March 27 (NSE Emerge)
- Rapid Fleet Management Services – 28 March (NSE Emerge)
- Active Infrastructures – 28 March (NSE Emerge)
