Indian IPO market gears up for 10 launches next week
What's the story
The Indian initial public offering (IPO) market is set to witness a surge of activity, with 10 new launches scheduled for next week. This includes two mainboard issues and eight in the small and medium enterprises (SME) segment. The mainboard issues comprise Manba Finance and KRN Heat Exchanger, aiming to raise around ₹482 crore collectively. Additionally, 14 listings are also expected in the same period.
Mainboard IPOs
Manba Finance and KRN Heat Exchanger lead mainboard issues
Manba Finance's IPO will be open for subscription from September 23 to September 25. The book-built offering is valued at ₹150.84 crore and comprises entirely of a fresh issue of 1.26 crore shares. The price band has been set between ₹114 and ₹120 per share with Hem Securities Limited, acting as the book-running lead manager for the IPO, and Link Intime India Private Ltd serving as the registrar.
Subscription period
KRN Heat Exchanger's IPO details
KRN Heat Exchanger's IPO will be open for subscription from September 25 to September 27. This IPO, valued at ₹341.95 crore, is a book-built issue and consists of a fresh issue of 1.55 crore shares. The price band for the KRN Heat Exchanger IPO has been set between ₹209 and ₹220 per stock, with Holani Consultants Private Limited serving as the book-running lead manager for the IPO, and Bigshare Services Pvt Ltd acting as the registrar.
SME offerings
Rappid Valves and WOL 3D
In the SME segment, Rappid Valves (India) will open its IPO for subscription from September 23-25. The book-built issue is valued at ₹30.41 crore and involves a fresh issue of 13.7 lakh shares with a price range set between ₹210-222 per share. WOL 3D, will also open its IPO for subscription with an issue valued at ₹25.56 crore including a fresh issue of 14.52 lakh stocks worth ₹21.78 crore, with a price range set between ₹142-150 per share.
Upcoming IPOs
Thinking Hats Entertainment Solutions and Unilex Colours and Chemicals
Thinking Hats Entertainment Solutions will open its IPO for subscription from September 25-27. The book-built issue amounts to ₹15.09 crore and consists entirely of a fresh issue of 34.29 lakh shares with a price band set between ₹42-44 per stock. Unilex Colours and Chemicals will open its IPO for subscription with an issue valued at ₹31.32 crore, consisting solely of a new offering of 36 lakh shares with a price range set between ₹82-87 per share.