Northern Arc Capital, Arkade Developers Among 7 New IPOs This Week; Bajaj Housing Finance Among 13 To List
The week will also see 13 companies debuting on the exchanges with four in the mainboard space.
India's primary market enters the third week of September with the public issue of seven new companies and 13 listings. The companies set to launch their maiden share sale includes Northern Arc Capital Ltd. and Arkade Developers Ltd. in the mainboard space and five in the SME segment.
Non-banking financial services firm Northern Arc Capital has set a price band of Rs 249–263 per share for its initial public offering that will open on Monday. The IPO of the Chennai-based company is a combination of a fresh issue of equity shares valued at Rs 500 crore and an offer for sale of 1.05 crore shares worth Rs 276 crore, according to the red herring prospectus.
Mumbai-based realty player Arkade Developers Ltd. plans to raise up to Rs 410 crore. The IPO, set to open on Sept. 16, consists completely of a fresh issue of 32,031,250 shares aggregating Rs 410 crore. It has set a price band of Rs 121–128 per share.
The IPO of Western Carriers (India) Ltd. will continue for the second and third day this week. It was subscribed 85% on its first day on Friday.
The subscriptions for Osel Devices Ltd. and Pelatro Ltd. in the small and medium enterprise segment will begin on Sept. 16 and Paramount Speciality Forgings Ltd. on Sept. 17. The companies will look to raise Rs 71 crore, Rs 56 crore and Rs 32 crore, respectively.
On Sept. 18, the Rs 24-crore IPO of BikeWo GreenTech Ltd. and on Sept. 20, the Rs 65-crore public issue of SD Retail Ltd. will open for subscription.
Listings
The week will also see 13 companies debuting on the exchanges with four in the mainboard space.
Shares of Bajaj Housing Finance Ltd., Tolins Tyres Ltd. and Kross Ltd. will list on Sept. 16. PN Gadgil Jewellers Ltd. will hit the secondary market on Sept. 17.
Excellent Wires and Packaging Ltd., Sodhani Academy of Fintech Enablers, Innomet Advanced Materials Ltd., SPP Polymer Ltd., Trafiksol ITS Technologies Ltd., Aditya Ultra Steel Ltd., Shubhshree Biofuels Energy Ltd., Gajanand International Ltd. and Share Samadhan Ltd. will be the other companies to debut in the SME segment during the week.
