IPO fever hits D-Street: 10 opening, 13 listing to lure investors next week

IPOs next week: It was a blockbuster for investors, with D-Street witnessing the triumphant market debut of Bajaj Housing Finance, and three other mainline IPOs – PN Gadgil Jewellers, Kross, and Tolins Tyres – on the BSE and NSE. The cherry on top was the benchmark equity indices, BSE Sensex and NSE Nifty50, scaling unprecedented heights.

Maintaining its momentum, the Indian primary market is poised to captivate investors in the next week, with the launch of two mainline, and as many as eight SME initial public offerings (IPOs).

Meanwhile, shares of Northern Arc Capital, Arkade Developers, and Western Carriers (India) will make their debut on the bourses next week as their listing is scheduled for Tuesday, September 24, 2024, on the BSE and NSE.

 

Mainline IPOs next week

Manba Finance IPO
Manba Finance seeks to raise Rs 150.84 crore from the IPO, offering an entirely fresh issue of 12,570,000 shares. The IPO of Manba Finance, which opens for subscription on Monday, September 23, 2024, will be available at a price band of Rs 114-120, with a lot size of 125 shares. Accordingly, investors can bid for a minimum of 125 shares and in multiples thereof.

The three-day subscription window to bid for the Manba Finance IPO closes on Wednesday, September 25, 2024. Following that, the basis of allotment of Manba Finance shares is expected to be finalised on Thursday, September 26, 2024, and consequently, the company’s shares will be credited into demat accounts on Friday, September 27, 2024.

Shares of Manba Finance are scheduled to make their debut on bourses on Monday, September 30, 2024, by listing at BSE and NSE.

KRN Heat Exchanger and Refrigeration IPO

The three-day subscription window to bid for the initial public offering of KRN Heat Exchanger and Refrigeration opens for subscription on Wednesday, September 25, 2024. KRN Heat Exchanger IPO consists of an entirely fresh issue of 15,543,000 shares. The company seeks to raise around Rs 341.95 crore from the public issue.

KRN Heat Exchanger is available at a price band of Rs 200-220, with a lot size of 65 shares. Thus, investors can bid for a minimum of 65 shares and in multiples thereof.

The subscription window of KRN Heat Exchanger IPO will conclude on Friday, September 27, 2024. The basis of allotment of KRN Heat Exchanger shares is likely to take place on Monday, September 30, 2024. The company’s shares will be credited into demat accounts on Tuesday, October 1, 2024.

Shares of KRN Heat Exchanger are expected to list on the BSE and NSE on Thursday, October 3, 2024.

SME IPOs next week

From the SME space, investors will see the listing of as many as 10 IPOs, which include Avi Ansh Textile, Phoenix Overseas, SD Retail, BikeWo GreenTech, Kalana Ispat, Paramount Speciality Forgings, Pelatro, Osel Devices, Popular Foundations, and Deccan Transcon Leasing.

Whereas eight companies, including Forge Auto International, Sahasra Electronics Solutions, Divyadhan Recycling Industries, Thinking Hats Entertainment Solutions, Unilex Colours and Chemicals, TechEra Engineering, Rappid Valves (India), and WOL 3D, will be opening for public subscription next week.