3 new IPOs launching next week
What's the story
The Indian stock market is all set for another busy week with three companies planning to launch their initial public offerings (IPOs). The upcoming issues include two mainboard offerings and one from the SME segment. This week will also see four new companies debuting on the stock market, including those from both mainboard and SME categories.
IPO specifics
GSP Crop Science's IPO to open on March 16
The first mainboard IPO is from GSP Crop Science, which will open for public subscription on March 16 and close on March 18. The issue is a book build of ₹400 crore, consisting of a fresh issue of 0.75 crore shares worth ₹240 crore and an offer for sale (OFS) of 0.50 crore shares worth ₹160 crore. The allotment for this IPO is likely to be finalized by March 20 with tentative listing date set as March 24.
OFS structure
CMRDI's IPO will be launched on March 20
The second mainboard IPO is from the Central Mine Planning & Design Institute, which will open for subscription on March 20 and close on March 24. This issue is a book build of 10.71 crore shares, entirely an offer for sale (OFS) of the same number of shares. As it is structured as an OFS, existing shareholders will sell their shares directly to the public through the stock exchange.
SME offering
Novus Loyalty's SME IPO to open on March 17
The only SME IPO in this week's batch is from Novus Loyalty. It'll open for subscription on March 17 and close on March 20. This issue is a book build of ₹60.15 crore, comprising fresh issue of 0.33 crore shares worth ₹48.18 crore and offer for sale (OFS) of 0.08 crore shares worth ₹11.97 crore. The allotment for this IPO is likely to be finalized by March 23 with tentative listing date set as March 25 on BSE SME platform.