The mainboard segment of the primary market will remain quiet as there will be no listing taking place in the week starting April 22. However, JNK India will hit the Street as it opens subscription to its Rs 649.5-crore initial public offer this week.
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The big follow-on public offer (FPO) by Vodafone Idea will also close this week. Regardless, it will be the SME segment that will be seeing major action this week as three public offers will open for subscription while another four will be lined up to make their market debut this week.
Vodafone Idea FPO
Vodafone Idea, the third-largest telecom operator in India, has been striving to achieve financial stability for some time. To support this effort, the company has decided to raise Rs 18,000 crore through a share sale, marking the largest follow-on public offer (FPO) in India to date. The FPO opened for subscription on April 18 and will close on April 22.
The Vodafone Idea FPO comprises solely a fresh issue component, involving over 1,636 crore equity shares offered by the company at the upper price band, without any offer-for-sale portion. The price band for the FPO has been set at Rs 10-11 per share. Investors participating in the issue can bid for a minimum of 1,298 equity shares, with subsequent bids to be made in multiples of 1,298 shares.
JNK India IPO
Maharashtra-based JNK India has set a price band of Rs 395-415 per share for its upcoming public issue, which is set to open for subscription on April 23 and close on April 25. Anchor investors will have the opportunity to place their bids on April 22.
The IPO comprises fresh shares worth Rs 300 crore and an offer-for-sale of up to 8.42 million shares by its existing shareholders and promoters. At the upper price band, the issue size is estimated to be Rs 650 crore, with a post-issue market capitalization expected to reach Rs 2,300 crore.
Varyaa Creations IPO
In the SME segment, Varyaa Creations will open its IPO for subscription on April 22, which will close on April 25. The Varyaa Creations IPO is a fixed price issue valued at Rs 20.10 crores. The entire issue consists of fresh shares amounting to 13.4 lakh shares.
Shivam Chemicals IPO
Shivam Chemicals, poised to list on the SME segment, will open the subscription to its initial public offering from April 22-25. It is a fixed price issue of Rs 20.18 crores. The issue is entirely a fresh issue of 45.87 lakh shares, with an IPO price of Rs 44 per share.
Emmforce Autotech IPO
The Emmforce Autotech IPO is valued at Rs 53.90 crores and comprises entirely of a fresh issue of 55 lakh shares. It will open for subscription on April 23, 2024, and close on April 25, 2024. The allotment for the IPO is expected to be finalized on Friday, April 26, 2024. The price band for the Emmforce Autotech IPO is set at Rs 93 to Rs 98 per share.
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Listings
The market will see four listings from the SME segment this week. The Faalcon Concepts IPO, which was opened on April 19, and close on April 23, will make its debut on the BSE SME on April 26. Further, Green Hi-tech Ventures will list its equity shares on the BSE SME on April 23, while the trading in Grill Splendour Services, and Ramdevbaba Solvent will commence on the NSE Emerge on April 23.
