The upcoming week is expected to be lively on Dalal Street, with seven companies preparing to launch their initial public offerings (IPOs) alongside eight new listings. With benchmark indices consistently reaching new record highs, there is an optimistic sentiment prevailing, and the primary market is abounding with numerous investment prospects for investors.
Out of the seven upcoming IPOs, Popular Vehicles and Krystal Integrated are mainboard issues, while the four SME IPOs consist of Pratham EPC, Signoria Creation, Royal Sense Limited, and AVP Infracon Limited IPO.
IPOs Next Week
Popular Vehicles and Services IPO
The IPO of Popular Vehicles and Services, an automobile dealer based in Kerala, is scheduled to commence subscription on March 12. The company has established a price range of Rs 280-295 per share.
The IPO consists of a primary issuance of Rs 250 crore alongside an offer-for-sale (OFS) of 11.92 million shares by the private equity fund BanyanTree Growth Capital II LLC.
Anchor bidding will kick off on March 11, with the issue concluding on March 14. The basis of allotment will be finalised by March 15.
Krystal Integrated Services IPO
Krystal Integrated Services, a company specialising in facilities management services, will launch its public issue for subscription on March 14. This marks the second public issue to debut on Dalal Street next week, following Popular Vehicles & Services.
The anchor book, allocated to qualified institutional buyers, will open for a single day on March 13, just before the issue’s opening.
The IPO consists of a primary offering of equity shares valued at Rs 175 crore, along with an offer-for-sale (OFS) of 17.5 lakh equity shares by the promoter Krystal Family Holdings.
KP Green Engineering IPO
The subscription for the issue will commence on March 15, 2024, and conclude on March 19, 2024. The price range for the issue is set between Rs 137 and Rs 144 per share, with the minimum lot size for an application being 1,000 shares.
AVP Infracon IPO
AVP Infracon, an infrastructure construction company, is set to commence its initial public offering (IPO) on March 13. The SME IPO, concluding on March 16, has established a price band for the issue ranging from Rs 71 to Rs 75 per share. The company aims to raise Rs 52.34 crore at the upper end of the price band through a fully fresh issue of 69.79 lakh equity shares.
Pratham EPC Projects IPO
Pratham EPC Projects is scheduled to initiate its initial public offering (IPO) on March 11, with the SME IPO closing on March 13. The company has set the price band for the issue at Rs 71 to Rs 75 per share. At the upper end of this range, the company aims to raise Rs 36 crore from the offering, which comprises entirely a fresh issue of 48 lakh equity shares.
Signoria Creation IPO
The Signoria Creation IPO will commence subscription on March 12 and end on March 14. This book-built issue amounts to Rs 9.28 crores and comprises solely a fresh issue of 14.28 lakh shares. Priced between Rs 61 and Rs 65 per share, the shares are intended for listing on NSE SME.
Royal Sense IPO
The Royal Sense IPO will open for subscription on March 12 and conclude on March 14, 2024. This fixed price issue amounts to Rs 9.86 crore and consists entirely of a fresh issue of 14.5 lakh shares priced at Rs 68 per share. The basis of allotment will be finalized on March 15, 2024, with the tentative listing date set for March 19, 2024.
What Is IPO?
IPO stands for Initial Public Offering. An IPO is the process through which a privately-held company offers its shares to the public for the first time, allowing it to raise capital from public investors.
When a company decides to go public through an IPO, it hires investment banks or underwriters to facilitate the process. These underwriters help the company determine the IPO price, draft the necessary regulatory documents, and manage the offering process.
Once the IPO is launched, interested investors can purchase shares of the company through the stock exchanges where the company’s shares are listed. This influx of capital allows the company to expand its operations, invest in new projects, pay off debts, or achieve other financial objectives.
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