Primary Market: 7 IPOs hitting Dalal Street with 2 listings this week

Major action will be seen in the SME segment, though the fundraising amount will be very less compared to the mainboard segment. Four public issues worth Rs 119 crore will be opening for subscription next week.

The primary market seems to have picked up pace as seven public issues will be hitting Dalal Street this week, with two listings. Around Rs 3,000-3,500 crore worth of funds will be raised by these seven companies.

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The main board segment, which was in a silent period for the last couple of weeks, will be in full action next week with Doms Industries and India Shelter Finance Corporation opening their IPOs for subscription on December 13. The closing date for both will be December 15.

Stationary and art products manufacturer Doms Industries, and housing finance company India Shelter are planning to raise Rs 1,200 crore each via initial public offerings.

Also See: Doms Industries to Launch IPO on Dec 13 to Raise Rs 1,200 Crore

Doms is a mix of a fresh issue of shares worth Rs 350 crore and an offer-for-sale (OFS) of Rs 850 crore by the existing shareholders, while Nexus and WestBridge-backed India Shelter IPO also comprises a fresh issuance of shares worth Rs 800 crore and an offer-for-sale of Rs 400 crore worth shares.

Doms has fixed its IPO price band at Rs 750-790 per share, while the price band of India Shelter is Rs 469-493 per share.

Cryogenic storage tanks manufacturer Inox India (INOXCVA) will also be opening its IPO next week on December 14, while the price band will be announced tomorrow. The offer will be closing on December 18.

The IPO consists of only an offer-for-sale of 2.21 crore shares by existing shareholders, including promoters. Siddharth Jain, Pavan Kumar Jain, Nayanatara Jain, Ishita Jain, and Manju Jain are amongst selling shareholders in the OFS.

SME

The major action will be seen in the small and medium enterprise (SME) segment, though the fundraising amount will be very less compared to the mainboard segment. Four public issues worth Rs 119 crore will be opening for subscription next week.

Rolling stock interior products maker Presstonic Engineering will be the first IPO amongst them, opening for subscription on December 11, with an issue price of Rs 72 per share. The fixed-price issue worth Rs 23.3 crore will close on December 13.

Logistics and supply chain solutions company S J Logistics (India) will be the second offer in the SME segment, opening during December 12-14, with a price band at Rs 121-125 per share. Its total fundraising stands at Rs 48 crore.

Further, the initial public offerings by employee transportation services provider Shree OSFM E-Mobility and Siyaram Recycling Industries will be opened on December 14. And the closing date for both will be December 18. Shree OSFM is a fixed-price issue with a price at Rs 65 per share, raising Rs 24.6 crore, while Siyaram, which makes brass billets and ingots, and plumbing components, is planning to mop up Rs 22.96 crore at the upper end of the price band of Rs 43-46 per share.

Microcrystalline cellulose maker Accent Microcell will be closing its Rs 78.4 crore IPO on December 12, with a price band at Rs 133-140 per share. It has seen a robust response from investors on December 8, the first day of bidding, as it was subscribed 28.77 times.

On the listings front, agricultural commodities supplier Sheetal Universal will be the first debut on the NSE Emerge in the coming week on December 11 after raising Rs 23.8 crore via a public issue which was subscribed 162.53 times during December 4-6.

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Advertising and communications agency Graphisads will also be listing its shares on the NSE Emerge, on December 13. The Rs 53.41-crore public issue was subscribed 3.62 times.

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