Business
Surge in SME IPOs: A week of promising new listings
The Indian IPO market has experienced remarkable growth recently, marked by a significant increase in companies seeking to list their shares on the stock exchange and a corresponding rise in capital raised.
This week, eight companies are poised to raise a total of Rs 410 crore through public issues. Among these, SAR Televenture stands out as a promising pick, with a Rs 150-crore follow-on public offer (FPO). The mainboard segment, however, remains relatively quiet, while the SME IPOs are bustling with activity.
Here’s a closer look at some of the exciting IPOs opening for subscription this week:
The RNFI Services IPO is open for subscription from July 22, 2024, to July 24, 2024. This book-built issue aims to raise ₹70.81 crores through a fresh issue of 67.44 lakh shares. The price band for the IPO is set between ₹98 and ₹105 per share. Choice Capital Advisors Pvt Ltd is the book-running lead manager, with Skyline Financial Services Private Ltd acting as the registrar.
The SAR Televenture FPO is open for subscription from July 22, 2024, to July 24, 2024. This book-built issue seeks to raise ₹150 crore through a fresh issue of 71.43 lakh shares. The price band is set between ₹200 and ₹210 per share. Pantomath Capital Advisors Pvt Ltd is the book-running lead manager, and Link Intime India Private Ltd is the registrar for this issue.
V.L. Infraprojects’ IPO will be open for subscription from July 23, 2024, to July 25, 2024. This book-built issue aims to raise ₹18.52 crores through a fresh issue of 44.1 lakh shares. The price band is set between ₹39 and ₹42 per share. Beeline Capital Advisors Pvt Ltd is the book-running lead manager, with Skyline Financial Services Private Ltd serving as the registrar.
The Manglam Infra and Engineering IPO opens for subscription on July 24, 2024, and closes on July 26, 2024. This book-built issue is valued at ₹27.62 crores, consisting of a fresh issue of 49.32 lakh shares. The price band is set between ₹53 and ₹56 per share. Unistone Capital Pvt Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd acts as the registrar.
VVIP Infratech
The VVIP Infratech IPO is open for subscription from July 23, 2024, to July 25, 2024. This book-built issue aims to raise ₹61.21 crores through a fresh issue of 65.82 lakh shares. The price band is set between ₹91 and ₹93 per share. Share India Capital Services Private Limited is the book-running lead manager, with Maashitla Securities Private Limited serving as the registrar.
