The final week of September will be another busy week for India's booming primary market as 10 new IPOs will hit the streets between Sept. 23 and 27. The new IPOs will include two mainboard and eight in the small and medium enterprises segment. Five SME IPOs from the previous week are also set to continue.
KRN Heat Exchanger and Refrigeration Ltd. will be the big issue next week, aiming to raise Rs 342 crore in an entirely fresh issue of 1.55 crore shares. The price band has been fixed at Rs 209–220 per share. The company will will use Rs 340 crore from the net proceeds to invest in its subsidiary KRN HVAC Products Pvt.
Manba Finance Ltd., a non-banking financial company, is scheduled to open for subscription on Sept. 23 and close on Sept. 25. The mainboard IPO is an entirely fresh issue of 1.26 crore shares worth Rs 150.84 crore. The NBFC's IPO price band has been fixed between Rs 114 and Rs 120.
Below is a table which captures all the IPOs for week starting September 23, 2024.
In the SME segment, IPOs of Unilex Colours Ltd., TechEra Ltd., Rappid Valves Ltd., WOL 3D India Ltd., Forge Auto Ltd., Thinking Hats Ltd., Sahasra Electronics Ltd. and Divyadhan Recycling Ltd. will open for subscription next week.
The issue of Sahasra Electronics is one of the biggest in the SME segment this year as the company plans to raise around Rs 186 crore. The IPO will be open for bidding between Sept. 26 and 30. The price band is set at Rs 269 to Rs 883.
September is set to be the busiest month for initial public offerings in both mainboard and SME segments in the last 14 years, according to the Reserve Bank of India's latest bulletin.
Listings
Apart from the IPOs, the street will see 14 listings including that of Arkade Developers Ltd., Northern Arc Capital Ltd. and Western Carriers Ltd. All three companies will debut in the secondary market on Sept. 24.
In the SME space, shares of Osel Devices Ltd., Pelatro Ltd., Envirotech Systems Ltd., Deccan Transcon Leasing Ltd. and Popular Foundations Ltd. will list on Sept. 24, while Paramount Speciality Forgings Ltd. will list on Sept. 25.
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