5 IPOs to hit Indian market next week
What's the story
India's primary market is gearing up for a busy week with five new initial public offerings (IPOs) set to open across the mainboard and SME platforms. The upcoming offers range from building materials to technology, giving investors a variety of options. Among the mainboard issues, Euro Pratik Sales will be the biggest offering with a ₹451 crore issue opening on September 16 and closing on September 18.
Mainboard offerings
Euro Pratik Sales, VMS TMT will be the biggest offers
Euro Pratik Sales, a decorative laminates and surfaces company, has fixed the price band for its issue at ₹235-247 per share. Axis Capital is the lead manager for this offer, which will be listed on both BSE and NSE. Following closely behind is VMS TMT with its ₹148 crore IPO opening between September 17-19. The Gujarat-based manufacturer of thermo-mechanically treated bars (TMT bars) has set a price band of ₹94-99 per share for its offer managed by Arihant Capital.
Smaller offers
TechD Cybersecurity, Sampat Aluminium to tap SME platform
In the SME segment, Vijay Kedia-backed TechD Cybersecurity will launch its ₹39 crore IPO from September 15-17. The offer is priced at ₹183-193 a share. Another building materials player, Sampat Aluminium, will also tap the market during this period with an issue size of ₹30.53 crore and a price band of ₹114-120 per share.
Current listings
Other issues that are opening next week
JD Cables, a manufacturer of high-quality cables and conductors, plans to raise about ₹96 crore through an offer of 63 lakh shares. The price band was fixed at ₹144-152 apiece. Two other IPOs, LT Elevator (₹39.37 crore, BSE SME) and Airfloa Rail Technology, are already open for subscription with issue sizes of ₹39.37 crore at a price band of ₹76-78 per share and ₹91.10 crore at ₹140 per share, respectively.