The primary market takes a breather in the mainboard segment with no new issues opening next week, while the SME segment keeps ticking as 2 companies set to launch their public offers.
In the last week, two mainboard IPOs of Popular Vehicles and Services and Krystal Integrated Services opened for subscription with an aim to raise Rs 901 crore.
Apart from two new SME IPOs, the Street will see as many as 9 listings including that of Popular Vehicles and Krystal Integrated Services.
Read More: Krystal Integrated Services IPO subscribed 48% on Day 2 so far; check latest GMP
While the public offer of Popular Vehicles received subscription of 1.23 at close, Krystal Integrated’s issue is still open for public to bid till March 18.
Analysts said the rise of the domestic capital, flourishing Indian entrepreneurship, improving governance, and diligent institutional investors are among reasons that are likely to keep the IPO market ticking in 2024.
Here’s all you need to know about primary market activity next week
Chatha Foods IPO
The SME IPO of Chatha Foods will open for subscription on March 19 and close on March 21. The issue is completely a fresh equity sale of 59.62 lakh shares, and through the public offer, the company plans to raise around Rs 34 crore.
The IPO is priced in the range of Rs 53-56, where investors can bid for 2,000 shares in one lot and in multiples thereafter.
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About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
Funds raised from the IPO will be used for setting up of a manufacturing facility and other general corporate purposes.
Chatha Foods is a frozen food processor, serving top QSRs, CDRs and other players in the HoReCa segment like Domino’s and Subway’s, Café Coffee Day, Wok Express, etc.
Its brands, which sell under “Chatha Foods” are distributed through a network of 29 distributors covering 32 cities across India and catering to the needs of 126 mid segment and standalone small QSR brands.
Indorient Financial Services is acting as the book running lead manager for the public offer, while Skyline Financial Services is the registrar.
Read More: SEBI amends regulations to ease IPO process for companies
Vishwas Agri Seeds IPO
Vishwas Agri Seeds is set to launch its initial public offer (IPO) in the SME segment on March 21. The issue, which closes on March 26, is entirely a fresh equity sale of 30 lakh shares.
The company has fixed a price band of Rs 86 per share for its IPO, which will raise around Rs 26 crore.
Investors can bid for a minimum of 1,600 shares in one lot in the IPO, where 50% is reserved for retail investors and the other 50% for non-institutional investors.
Vishwas Agri Seeds is in the business of processing quality seeds and supplying to farmers through the distribution network. The company sells its seeds under the brand name “Vishwas”. In July 2023, it started commercial operations of its own seed sorting and grading unit, warehouse and cold storage.
Isk Advisors is the sole book running lead manager for the IPO, while Bigshare Services is the registrar.
