The IPO market has grown steadily and done well overall so far in 2024. As of now in May, the mainboard segment has had 30 IPOs. There is a lot of enthusiasm about the small and medium-sized firm (SME) IPO. By May 2024, there were about 100 SME IPOs listed.
Analysts surmise that the surge in IPOs may be attributed to India’s robust economic growth, rising stock prices, and a constant outperformance of profit estimates by corporations, all of which serve as catalysts for more companies to go public. As a result, the IPO market has prospered tremendously, and cutting-edge businesses like Tata Capital, Hexaware, Ola Electric, and Swiggy are getting ready to make their public market debuts in 2024 and 2025.
Also Read: India set to record bumper IPO deals as 2024 Lok Sabha election uncertainty ends
Three IPOs are slated to open for subscription in the first week of June, The issue of Kronox Lab Sciences’ offer of ₹130 crore will open in the mainboard segment, while Sattrix Information Security and Magenta Lifecare IPO will open in the SME section next week.
Along with the three new IPOs, six SME IPO companies will list at the bourses the following week.
“Amidst general elections, the primary market continues to remain vibrant, with amazing responses to certain IPOs such as Awfis Space Solutions. Confidence can be gauged by these offerings that have been launched amidst general elections, defying the earlier trend. As we speak, Kronox Lab Sciences’ IPO will be launched from June 3rd to 5th.
Looking ahead, get ready for a wave of IPOs from both new-age businesses and traditional sectors. We’re optimistic about the IPO post-election results. There are several factors why we believe this. First, there’s been an increase in domestic capital. Then, there are improved governance practices and a thriving Indian entrepreneurship spirit, as well as supportive government policies, especially when it comes to FDI. All of these things come together to give us confidence in the market,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.
Also Read: 10 stocks listed in 2024 trade below their issue prices; will they suffer more? Here’s what experts say
Here’s what the IPO table for the first week of June looks like:
Mainboard IPO
Kronox Lab Sciences IPO
The subscription period for the Kronox Lab Sciences IPO is set for Monday, June 3, and it will end on Wednesday, June 5. The price band for Kronox Lab IPO is set at ₹129 to ₹136 per equity share, with a face value of ₹10. On Friday, May 31, anchor investors contributed ₹39.04 crore to the Kronox Lab Sciences IPO. The estimated value of the IPO at the upper end of the price band is ₹130.15 crore.
The Kronox Lab IPO basis for share allocation is expected to be finalised on Thursday, June 6. The company will then start processing refunds on Friday, June 7, and the shares will be deposited to the allottees’ demat accounts the same day as the refund. Kronox Lab Sciences share price is likely to be listed on BSE and NSE on Monday, June 10.
The book running lead manager for the Kronox Lab Sciences IPO is Pantomath Capital Advisors Pvt Ltd, and the registrar is Kfin Technologies Limited.
Also Read: Kronox Lab Sciences IPO opens on June 3; here’s what GMP hints ahead of subscription
SME IPOs
Sattrix Information Security IPO
The Sattrix Information Security (Sattrix InfoSec) IPO subscription will be open from Wednesday, June 5 through Friday, June 7. A minimum lot size of 1,000 shares is required, and the price band has been fixed at ₹121. The company’s current market value is ₹82.28 crore, while the IPO’s total issue size is ₹21.78 crore.
A maximum of ₹1,21,000 can be invested by retail investors by buying 1,000 shares at a price of ₹121 per. Investing in multiples of 2,000 shares, or a total of ₹2,42,000, is mandatory for both HNIs and non-institutional investors (NIIs). The investment amount has no maximum limit. High-net-worth and retail investors can now join Sattrix on its growth path as a result of its SME IPO.
The registrar for the Sattrix IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Isk Advisors Pvt Ltd. Sunflower Broking is the market maker for the Sattrix initial public offering.
Magenta Lifecare IPO
Magenta Lifecare IPO will open for subscription on Wednesday, June 5, and will end on Friday, June 7. The issue’s price band has been fixed at ₹35 per share. The Magenta Lifecare IPO lot size is 4,000 shares.
The Magenta Lifecare IPO, valued at about at ₹7 crore, consists of a fresh issuance of 2,000,000 equity shares at face value of ₹10. There’s no offer-for-sale component.
The Magenta Lifecare IPO’s book running lead manager is Fedex Securities Pvt Ltd, while the issue’s registrar is Cameo Corporate Services Limited. Sunflower Broking is the market maker for Magenta Lifecare’s initial public offering.
SME IPO Listing next week
On June 3, Monday, shares of the Vilas Transcore IPO will list on the NSE SME. On June 4, Tuesday, shares of the Ztech India IPO and the Beacon Trusteeship IPO will debut. This Thursday, June 6, the Associated Coaters IPO will make its debut on BSE SME. On Thursday, June 6, Aimtron Electronics IPO will list on NSE SME, and on Friday, June 7, TBI Corn IPO will make its debut on NSE SME.
Also Read: Kronox Lab Sciences IPO: Firm mobilises ₹39.04 crore from anchor investors ahead of subscription
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Published: 01 Jun 2024, 03:23 PM IST