Market participants to see 5 IPOs on Dalal Street next week, with 2 listings lined up

The coming week starting from May 27 will be muted for the mainboard segment as there won’t be any new public issue opening, but the activity will remain strong in the SME segment with five IPOs scheduled for launch.

Mainboard Segment

Awfis Space Solutions will close its Rs 599-crore initial share sale on May 27. In the last three days starting from May 22, the public issue was subscribed 11.4 times with participation from across categories of investors.

The workspace solutions provider will also make its debut on the bourses next week on May 30. In the grey market, its IPO shares were available at around 25-30 percent premium over the upper price band (Rs 383 per share), the market observers said. The grey market is an unofficial platform wherein the IPO shares trade till the listing.

SME Segment

The Small and Medium Enterprise (SME) segment will remain busy next week as there will be a launch of one IPO everyday.

Vilas Transcore IPO

The power distribution and transmission components maker will open its Rs 95.26-crore maiden public issue on May 27, with a price band at Rs 139-147 per share. The IPO comprises only a fresh issue of 64.8 lakh equity shares by the company.

The biggest IPO amongst these five companies will close for subscription on May 29.

The Gujarat-based company will utilise IPO proceeds for strategic investment and acquisitions, construction of factory building, acquiring and installing additional plant and machinery, general corporate purpose, and issue expenses.

Beacon Trusteeship IPO

The debenture trustee will launch its Rs 32.52-crore initial share sale on May 28. The price band for the book-built issue, which closes on May 30, has been fixed at Rs 57-60 per share.

The IPO is a mix of fresh issue of 38.72 lakh equity shares worth Rs 23.23 crore, and an offer-for-sale (OFS) of 15.48 lakh shares worth Rs 9.29 crore at the upper price band. Promoter Prasana Analytics, and Kaustubh Kiran Kulkarni will be selling shareholders in the OFS.

Established in 2015, Beacon, a SEBI registered debenture trustee, providing wide range of trusteeship service across various sectors, will spend fresh issue proceeds for building up technology infrastructure for existing business, acquisition of Beacon RTA Services, purchase of new office premises, and general corporate purpose.

Ztech India IPO

The Rs 37.30-crore IPO of the civil engineering products designer will open for subscription on May 29, with a price band at Rs 104-110 per share. The book-built issue will close on May 31.

The IPO consists of solely a fresh issue of 33.91 lakh equity shares by the company.

Ztech, which specialises in the geo-technical specialised solutions in the field of infrastructure and civil construction projects, will use fresh issue money for its working capital requirements, general corporate purposes; and IPO expenses.

Aimtron Electronics IPO

Aimtron that provides products and solutions for electronics system design and manufacturing (ESDM) services will launch its book-built issue on May 30. It has fixed price band at Rs 153-161 per share for its Rs 87.02-crore initial share sale comprising only a fresh issue of 54.04 lakh equity shares.

The last day for subscription to the issue will be June 3.

The Gujarat-based company will utilise IPO funds for repaying borrowings, installation of additional plant and machinery, working capital requirements, and general corporate purpose.

TBI Corn IPO

This will be the fifth initial public offering opening next week on May 31. The book-built issue, with a price band at Rs 90-94 per share, will close on June 4.

The corn meal grits manufacturer and exporter is planning to raise Rs 44.94 crore through its IPO comprising a fresh issue of 47.8 lakh equity shares.

The Sangli-based firm will spend the fresh issue money for expansion of its existing unit; working capital requirement; and general corporate purpose.

SME Listing

GSM Foils will close its Rs 11.01-crore maiden public issue on May 28. The IPO was opened on May 24 and has already received strong response from investors, subscribing 16.63 times on the first day.

The trading in its equity shares will commence on the NSE Emerge from May 31. This will be the only listing from the SME segment.

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