 "Four SME IPOs to hit capital markets this week")
As many as four companies will come out with their initial share sale this week to raise a total of close to Rs 15 crore and eventually get listed on small and medium enterprises platform of the exchanges.
Vaksons Automobiles, Bella Casa Fashion & Retail and Vishal Bearings will launch their respective initial public offerings (IPO) tomorrow, while Cawasji Behramji Catering Services' public issue will open for subscription on Tuesday.
Shares of all these companies would get listed on BSE's dedicated SME platform, as per the prospectus of the companies filed with capital market regulator Sebi.
The public issue of Vishal Bearings and Bella Casa would close on September 30, while IPO of Vaksons Automobiles and Cawasji Behramji would close on October 1 and October 5 respectively.
As per the draft papers, Vaksons Automobiles plans to raise Rs 6.24 crore, Bella Casa would mop up Rs 3.43 crore, Vishal Bearings would rake in Rs 3.24 crore and Cawasji Behramji intends to garner Rs 1.86 crore.
Ahimsa Industries' IPO, which is already open for subscription, will close on October 1. The company is aiming to mobilise Rs 3.79 crore.
The proceed of the issues would be utilised for working capital requirements and other general corporate purposes.
During April-July period of the current fiscal, 14 SMEs got listed on capital markets with public issues worth Rs 113 crore. In comparison, nine SMEs had launched their IPOs and raised a total of Rs 90 crore during the April-July period of 2014-15.
BSE and the National Stock Exchange (NSE) had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country.
The platforms provide opportunity to SME entrepreneurs to raise equity capital for growth and expansion.
