The mainboard issues include that of Manba Finance and KRN Heat Exchanger, which will cumulatively raise around Rs 482 crore.
Apart from the IPOs, the Street will see 14 listings including that of Arkade Developers, Northern Arc Capital and Western Carriers, whose IPOs received strong response in the week gone by.
The outlook for the Indian IPO market remains promising, with Pantomath Capital projecting that domestic companies could raise over Rs 1.5 lakh crore through IPOs in the next 12 months, signaling continued activity and strong investor interest ahead.
Here’s what’s on the IPO table next week:
Manba Finance IPO
Mumbai-based Non Banking Financial Company (NBFC) Manba Finance’s initial public offering (IPO) for Rs 151 crore will open for subscription September 23 and close on September 25. The company has fixed a price band of Rs 114-120 per share.The IPO is entirely a fresh issue of up to 1,25,70,000 shares with no offer of sale component and the total size of the Rs 151 crore issue has been arrived at by considering the price of the upper band.The company intends to use the proceeds from its fresh issuance for augmenting the capital base to meet the company’s future capital requirements.
Based in Mumbai, the company provides financial solutions to salaried and self-employed individuals with a quick turnaround time (TAT) for loan sanction and disbursement.
KRN Heat Exchanger IPO
The IPO of KRN Heat Exchanger will open for subscription on September 25 and will be available for investors to bid till September 27.
The price band for the issue, which is completely a fresh equity sale of 1.55 crore shares, is fixed at Rs 209-220 per share.
In the public offer, about 50% is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
The company proposes to use the net proceeds from the IPO for investment in wholly-owned subsidiary KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Alwar, in Rajasthan. The remaining amount will be used for other general corporate purposes.
KRN Heat Exchanger and Refrigeration manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry.
SME segment
In the SME segment, 8 IPOs of Rappid Valves, WOL 3D India, Unilex Colours, TechEra, Forge Auto, Sahasra Electronics, Divyadhan Recycling and Thinking Hats will open for subscription next week.
The issue of Sahasra Electronics is one of the biggest in the SME segment this year as the company plans to raise around Rs 186 crore. The IPO opens on September 26 and closes on September 30.
Two other IPOs of Divyadhan Recycling and Forge Auto International will also open for public on September 26. About three IPOs of TechEra, Unilex and Thinking Hats will kick-off from September 25.
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