 "6 SME IPOs to open this week; check size, issue price, GMP and more")
SME IPOs this week: Six small and medium enterprises (SMEs) are set to open for subscription (IPO) this week (June 17-21, 2024). These include Falcon Technoprojects India, Durlax Top Surface Limited, GEM Enviro Management Limited, Winny Immigration and Education Services Ltd, Dindigul Farm Product Limited, and Medicamen Organics Limited.
What is SME IPO?
An SME IPO stands for small and medium enterprise initial public offering (SME IPO). It allows privately held small and medium-sized enterprises (SMEs) to raise funds through public issues and become publicly traded companies.
SMEs opting for an IPO typically list on platforms like BSE SME or NSE Emerge. To qualify for an SME IPO, companies must meet certain criteria, which include the post-issue paid-up capital should be less than Rs 25 crore and the minimum post-issue capital should be Rs 1 crore.
Here are the SME IPOs details:
Falcon Technoprojects India Limited IPO
More From This Section
Falcon Technoprojects India IPO is a fixed price issue of Rs 13.69 crore. The issue is entirely a fresh issue of 14.88 lakh shares. The subscription period opens on June 19, 2024, closing on June 21, 2024, with allotments expected by June 24, 2024.
The IPO is priced at Rs 92 per share, requiring a minimum investment of Rs 110,400 for retail investors (minimum lot size: 1,200 shares) and Rs 220,800 for HNIs (minimum 2 lots, 2,400 shares).
The NSE SME listing is anticipated on June 26, 2024.
Durlax Top Surface Limited IPO
Durlax Top Surface IPO has a total issue size of Rs 40.80 crore. This includes a fresh issue of 42 lakh shares worth Rs 28.56 crore and an offer for sale (OFS) of 18 lakh shares of Rs 12.24 crore.
The subscription for Durlax Top Surface IPO opens on June 19, 2024, and closes on June 21, 2024, with allotments expected to be finalised by June 24, 2024.
The IPO is priced in the range of Rs 65 to Rs 68 per share, with a minimum application lot of 2,000 shares requiring an investment of Rs 136,000 for retail investors, and Rs 272,000 for HNIs (minimum 2 lots, 4,000 shares). The IPO is scheduled to list on the NSE SME on Wednesday, June 26, 2024.
GEM Enviro Management Limited IPO
GEM Enviro is set to launch its IPO valued at Rs 44.93 crore, combining a fresh issue of 14.98 lakh shares worth Rs 11.23 crore and an offer for sale of 44.93 lakh shares totaling Rs 33.70 crore.
The subscription for GEM Enviro IPO begins on June 19, 2024, and concludes on June 21, 2024, with allotments expected to be finalised by June 24, 2024.
The IPO is priced between Rs 71 to Rs 75 per share, with a minimum application lot of 1,600 shares requiring an investment of Rs 120,000 for retail investors and Rs 240,000 for HNIs (minimum 2 lots, 3,200 shares). The listing on BSE SME is anticipated on Wednesday, June 26, 2024.
Winny Immigration and Education Services Ltd IPO
Winny Immigration is launching its IPO valued at Rs 9.13 crore, consisting entirely of a fresh issue of 6.52 lakh shares.
The subscription for Winny Immigration IPO opens on June 20, 2024, and closes on June 24, 2024. Allotments are expected to be finalised by June 25, 2024, with the IPO scheduled to list on NSE SME on Thursday, June 27, 2024.
Priced at Rs 140 per share, the minimum application lot is 1000 shares, requiring a minimum investment of Rs 140,000 for retail investors and Rs 280,000 for HNIs (minimum 2 lots, 2,000 shares).
Dindigul Farm Product Limited IPO
Dindigul Farm Product Limited (EnNutrica) is set to debut with its IPO valued at Rs 34.83 crore, exclusively through a fresh issue of 64.5 lakh shares.
The subscription for EnNutrica IPO begins on June 20, 2024, and concludes on June 24, 2024, with allotments expected to be finalised by June 25, 2024.
The IPO price band is set between Rs 51 to Rs 54 per share, and the minimum application lot is 2000 shares, requiring an investment of Rs 108,000 for retail investors and Rs 216,000 for HNIs (minimum 2 lots, 4,000 shares). EnNutrica IPO is slated to list on BSE SME on Thursday, June 27, 2024.
Medicamen Organics Limited IPO
Medicamen Organics is set to launch its IPO valued at Rs 10.54 crore, consisting entirely of a fresh issue of 31 lakh shares.
The subscription for Medicamen Organics IPO opens on June 21, 2024, and closes on June 25, 2024. Allotments are expected to be finalised by June 26, 2024, with the IPO scheduled to list on NSE SME on Friday, June 28, 2024.
Priced between Rs 32 to Rs 34 per share, the minimum application lot is 4,000 shares, requiring a minimum investment of Rs 136,000 for retail investors and Rs 272,000 for HNIs (minimum 2 lots, 8,000 shares).