 "IPO market heats up: Vishal Mega Mart, Mobikwik; 6 more to open next week")
Upcoming IPOs: Indian primary markets are gearing up for a dynamic week ahead, with three mainline initial public offerings (IPOs), including Vishal Mega Mart and Mobikwik, set to open for public subscription alongside five SME IPOs.
This surge in activity underscores a bustling year for the primary markets, as 138 companies have gone public so far, according to BSE data. Of these, 76 companies have launched on the mainboard, presenting ample investment opportunities.
Here’s a rundown of the IPO activity investors can expect next week:
Vishal Mega Mart IPO
The initial public offering of Vishal Mega Mart will open on Wednesday, December 11, 2024, and comprises a complete offer for sale (OFS) of 1,025,641,025 shares.
Priced in the range of Rs 74-78 per share, the IPO has a lot size of 190 shares, allowing investors to bid for a minimum of 190 shares or in multiples thereof. The subscription period for the IPO will close on Friday, December 13, 2024.
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The basis of allotment is expected to be finalised on Monday, December 16, 2024, with shares credited to investors' demat accounts by Tuesday, December 17, 2024.
Vishal Mega Mart is set to debut on the BSE and NSE on Wednesday, December 18, 2024.
KFin Technologies is the registrar, while Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India, JP Morgan India, and Morgan Stanley India are the book-running lead managers for this IPO.
Sai Life Sciences IPO
Sai Life Sciences is also launching its IPO next week, with the subscription window opening on Wednesday, December 11, 2024, and closing on Friday, December 13, 2024. The company aims to raise Rs 3,042.62 crore at the upper end of the price band through a fresh issue of 17,304,189 shares and an offer for sale of 38,116,934 shares, each with a face value of Rs 1.
The IPO is priced between Rs 522 -549 per share, with a minimum lot size of 27 shares. The basis of allotment will be finalised on Monday, December 16, 2024, with shares credited to demat accounts by Tuesday, December 17, 2024. Sai Life Sciences shares are expected to list on the BSE and NSE on Wednesday, December 18, 2024.
KFin Technologies is serving as the registrar, while Kotak Mahindra Capital Company, Jefferies India, Morgan Stanley India Company, and IIFL Securities are the book-running lead managers for this issue.
Mobikwik IPO
Mobikwik will open its IPO for public subscription on Wednesday, December 11, 2024. This offering comprises a fully fresh issue of 20,501,792 shares, priced between Rs 265-279 per share, with a minimum lot size of 53 shares. Investors can bid for a minimum of 53 shares and in multiples thereof.
The subscription window closes on Friday, December 13, 2024. The basis of allotment is expected to be finalised on Monday, December 16, 2024, with shares credited to demat accounts by Tuesday, December 17, 2024. Mobikwik shares will debut on the BSE and NSE on Wednesday, December 18, 2024.
Link Intime India is the registrar, while SBI Capital Markets and DAM Capital Advisors (formerly IDFC Securities) are the book-running lead managers for this issue.
SME IPOs to watch next week
In the SME segment, Supreme Facility Management, Purple United Sales, Toss The Coin, Jungle Camps India, and Dhanlaxmi Crop Science will open for initial public offerings. Additionally, Emerald Tyre Manufacturers and Nisus Finance Services are scheduled to list on the NSE SME, and BSE SME platforms respectively, on Thursday, December 12, 2024, and Wednesday, December 11, 2024.