The primary market will see five companies launching their public offers next week including the mainboard IPO of Saraswati Saree Depot. In the SME segment, four issues will be open for subscription.
Apart from the new issues, the Street will also see three listings. FirstCry and Unicommerce, which opened for subscription last week, will also see their shares get listed last week.
Post the Budget, the IPO activity has gained momentum, driven by strong economic fundamentals and a growing interest from domestic investors.
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Here’s what to expect on the IPO table
Saraswati Saree Depot IPO
Saraswati Saree Depot announced a price band of Rs 152-160 for its IPO, which will open for bidding on August 12 and close on August 14. Minimum bids can be made for 90 shares and in multiples of 90 thereafter.
The IPO consists of a fresh Issue of up to 65 lakh equity shares and an offer for sale (OFS) of up to 35 lakh equity shares by the promoter group selling shareholders. Under the OFS, Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani and Nikhil Dulhani will be offloading their part stakes.
About 50% of the IPO is reserved for QIB (qualified institutional buyers), 15% for non-institutional investors and the rest 35% for retail investors.
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The company intends to utilise the net proceeds from the fresh issue towards funding working capital requirements and general corporate purposes.
The Kolhapur based company whose origin into the sarees business dates back to the year 1966 is also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms.
The company sources sarees from different manufacturers across India and has developed relationships in hubs like Surat, Varanasi, Mau, Madurai, Dharmavaram, Kolkata, and Bengaluru. Saraswati Saree Depot Limited which operates from two stores located in Maharashtra (Kolhapur and Ulhasnagar) lists more than 300,000 different SKUs in its product catalogue.
Unistone Capital Private Limited is the book running lead manager to the issue, while Bigshare Services Private Limited is the registrar to the offer.
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SME segment
In the SME segment, five companies — Sunlite Recycling, Positron Energy, Solve Plastic Products, Broach Lifecare Hospital — will launch their IPOs next week.
The issues of Positron Energy and Sunlite Recycling Industries will open for subscription on August 12 and close on August 14. While Positron Energy is offering its shares at Rs 238-250 apiece, Sunlite has priced the IPO in the range of 100-105 per share.
The public offers of Solve Plastic — which is priced at Rs 91, and Broach Lifecare, offered at Rs 25 — will open for subscription on August 13. Both the issues close on August 16.
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