IPOs Worth Rs 600 Cr Set to Debut This Week
The combination of SME and mainboard IPOs will go live to raise Rs 600 crore
The IPO season, encompassing both the primary and NSE emerge markets, is making a boom. This week is anticipated to witness a flurry of IPOs, collectively aiming to secure up to Rs 600 crore in funding through the bidding and listing processes.
IRM Energy, a Gujarat-based gas distribution business, will be the first mainstream IPO of the current month. The issue will open for public subscription on 18 October 2023 and will close on 20 October 2023.
The IPO comprises a total of 1,08,90,000 equity shares, comprising only fresh equity and no offer-for-sale (OFS) component. The price band for the IPO has been fixed at Rs 480 to 505 per equity share. The Company intends to raise the capital of Rs 545 crore.
The company plans to utilise the fund primarily for the city gas distribution network in Tamil Nadu and debt repayment, as well as general corporate objectives.
In the SME section, WomanCart, an online shopping platform that sells a variety of skincare items, will open its first public issue on 16 October and will be closed on 18 October.
The Delhi-based firm seeks to raise Rs 9.56 crore at a share price of Rs 86, which will be used primarily for branding and marketing, app development, working capital requirements, and general corporate reasons.
Rajgor Castor Derivatives will be the second SME initial public offering. The offer will open on 17 October and will close on 20 October, with a price range of Rs 47 to 50 per share.
The Gujarat-based castor oil-based goods manufacturing company's offering consists of a fresh issue of Rs 44.48 crore in shares and an OFS of Rs 3.33 crore in shares by promoters.
Arvind and firm Shipping Agencies, a chartering firm, will close its IPO bidding on 16 October. The IPO has been subscribed 36.72 times.
Committed Cargo Care, a third-party logistics company, will make its NSE Emerge debut on October 18. The IPO has been subscribed more than 82 times.
