Two new IPOs to hit Dalal Street next week
What's the story
The primary market is set to welcome two new initial public offerings (IPOs) from the SME sector next week. The first one is PDP Shipping and Projects, which will open for public subscription on March 10. It has fixed a price of ₹135 per share and will issue fresh equity of 9.37 lakh shares. Half of this issue is reserved for retail investors while the other half is for non-retail investors.
Business details
PDP Shipping's IPO proceeds and market presence
The net proceeds from PDP Shipping's IPO will be utilized for funding working capital requirements and general corporate purposes. The firm provides end-to-end solutions in the logistics and transport industry, including multimodal transportation through sea, air, coastal, rail, and road transportation, custom clearance, and other value-added services. Sun Capital Advisory is the book-running lead manager of this IPO while Kfin Technologies will be its registrar.
Second IPO
Super Iron Foundry's IPO details and offerings
The second IPO scheduled to open next week is from Super Iron Foundry, which will be open for subscription from March 11-13. The company has fixed its issue price at ₹108 apiece with a minimum bidding requirement of 1,200 shares per lot. Horizon Management is the sole book-running lead manager for this IPO.