The primary market is all set for a busy month ahead with several new public offerings scheduled to debut on the Street. Next week, as many as seven companies will launch their issues — three of them will be from the mainboard segment.
The mainboard IPOs of RK Swamy, JG Chemicals and Gopal Snacks will hit the street to raise a cumulative of Rs 1,324 crore. Meanwhile, the SME segment will see public offers of VR Infraspace, Sona Machinery, Shree Karni Fabcom and Pune E-Stock broking.
Apart from the new IPO openings, the Street will have 8 new listings of the companies, which brought their offers last week.
All you need to know about IPO market next week:Marketing services provider RK Swamy has priced its IPO at Rs 270-288 per share. The company plans to raise Rs 423 crore through this issue, which opens for subscription on March 4. The three-day issue will close on March 6.
Investors can bid for a minimum bid of 50 shares in one lot and in multiples thereafter.
The IPO comprises a fresh equity issue of Rs 215 crore and an offer for sale of 87 lakh shares shares. Under the OFS, Srinivasan K Swamy, Narasimhan Krishnaswamy Evanston Pioneer Fund Prem Marketing Ventures will offload shares.
Of the Rs 423 crore, Rs 173 crore will be raised via issue of the fresh equity shares while the rest will go to the selling shareholders.
RK Swamy is one of India’s largest integrated marketing services providers, offering a single-window solution for creative, media, data analytics and market research services.
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Kolkata-based Zinc Oxide manufacturer J G Chemicals has fixed a price band of Rs 210-221 for its maiden public offer, which opens for subscription on March 5.
The company had received approval from market regulator Sebi for an IPO in March last year.
The issue, which closes on March 7, comprises a fresh equity sale of 74 lakh shares and an offer for sale (OFS) of 39 lakh shares. Under the OFS, promoter group shareholders Vision Projects, Jayanti Commercial, Suresh Kumar and Anirudh Jhunjhunwala will offload part of their stakes in the company.
JG Chemicals is India’s largest zinc oxide manufacturer in terms of production and revenue for zinc oxide manufacturing through French process, which is the dominant production technology for producing zinc oxide and has been adopted by all the major producers in Americas, Europe and Asia.
Gopal Snacks has fixed a price band for its upcoming public offering at Rs 381-401 per share. The issue will open for subscription on March 6 Wednesday and close on March 11, Monday.
The IPO is an offer for sale of Rs 650 crore. Since the offering is an OFS, the company will not receive any proceeds and the entire funds will go to selling shareholders, who are Bipinbhai Vithalbhai, Gopal Agriproducts and Harsh Sureshkumar.
Gopal Snacks, a fast-moving consumer goods (FMCG) company in India with a major presence in Gujarat, offers a wide variety of savoury products under its brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, snack pellets and extruder snacks.
SME segment
In the SME segment, four companies — VR Infraspace, Sona Machinery, Shree Karni Fabcom and Pune E-Stock broking — are planning to raise just over Rs 150 crore with their initial share sales next week.
The IPO of Sona Machinery, which opens on March 5 and closes on March 7 is the biggest of the lot. The company looks to raise around Rs 52 crore. It is closely followed by public offers of Shree Karni Fabcom and Pune E-Stock broking, which are opening on March 6 and March 7, respectively.
