Indian IPO market boom continues with 10 new issues, 11 listings scheduled next week

With as many as 10 IPOs slated to launch next week, India’s primary market is in no mood to slow down. These issues include two in the mainboard segment and 8 in the SME segment.

The mainboard issue includes Manba Finance and KRN Heat Exchanger, totaling Rs. 482 crore will be collected.

Apart from the IPO, the Street will see 14 listings including Arkade Developers, Northern Arc Capital and Western Carriers, whose IPOs received a strong response last week.

The outlook for the Indian IPO market remains promising, with Pantomath Capital estimating that domestic companies will raise Rs. 1.5 lakh crore, indicating continued activity and strong investor interest.

Here’s what’s on the IPO table next week:

Manba Finance IPO

Mumbai-based non-banking financial company (NBFC) Manba Finance has raised Rs. 151 crore initial public offer (IPO) will open for subscription on September 23 and close on September 25. The company paid Rs. 114-120 price band has been fixed.

The IPO is an entirely new issue of up to 1,25,70,000 shares with no offer of sale component and taking into account the price of the upper band the total is Rs. 151 crore issue size achieved.

The company intends to use the proceeds from its fresh issue to increase the capital base to meet the company’s future capital requirements.

Based in Mumbai, the company provides financial solutions with fast turnaround time (TAT) for loan approval and disbursal to salaried and self-employed individuals.

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 a fresh equity sale of fully 1.55 crore shares, is Rs. 209-220 has been determined.

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 to invest in its wholly-owned subsidiary KRN HVAC Products to set up a new manufacturing facility at Neemrana, Alwar in Rajasthan. The remaining amount will be used for other general corporate purposes.

KRN Heat Exchanger & Refrigeration manufactures fin and tube type heat exchangers for heat ventilation air conditioning and refrigeration industries.

SME segment

In the SME segment, 8 IPOs of Rappid Valves, WOL 3D India, Unilex Colors, TechEra, Forge Auto, Sahasra Electronics, Divyadhan Recycling and Thinking Hats will open for subscription next week.

Sahastra Electronics’ issue is the biggest in the SME segment this year as the company raised around Rs. 186 crore planned to be raised. The IPO will open on September 26 and close on September 30.

Two other IPOs of Divyadhan Recycling and Forge Auto International will also open to the public on September 26. About three IPOs of TechEra, Unilex and Thinking Hats will start from September 25.

(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)