Five IPOs Launch, Two Listings:
In the mainboard segment, activity is anticipated to remain subdued as no new initial public offerings are slated to commence, likely due to the ongoing general elections. However, the small and medium enterprise (SME) segment will see continued activity, with five public issues scheduled to open for subscription.
Among the ongoing offerings, the bidding process for the Awfis Space Solutions in the mainboard segment is set to conclude on May 27. Additionally, shares of the Awfis IPO are expected to be listed on Indian bourses on May 30.
Bidding for the Awfis Space Solutions opened for subscription on May 22, 2024, and will close on May 27, 2024. This book-built issue is valued at Rs 598.93 crores, comprising a fresh issue of 0.33 crore shares worth Rs 128.00 crore, along with an offer for sale of 1.23 crore shares totaling Rs 470.93 crores.
The price band is set at Rs 364 to Rs 383 per share. ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd are the book-running lead managers for the Awfis Space Solutions IPO, with Bigshare Services Pvt Ltd serving as the registrar for the issue. The Grey Market Premium (GMP) for the Awfis Space Solutions IPO stands at Rs 113. With the price band set at Rs 383.00, analysts estimate the listing price to be around Rs 496, indicating an expected percentage gain per share of 29.50%.
The Vilas Transcore opens for subscription on May 27, 2024, and closes on May 29, 2024. This SME IPO is a book-built issue valued at Rs 95.26 crores, consisting entirely of a fresh issue of 64.8 lakh shares.
The SME IPO’s price band is established at Rs 139 to Rs 147 per share. Hem Securities Limited serves as the book-running lead manager for the Vilas Transcore IPO, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. The Grey Market Premium (GMP) for the Vilas Transcore SME stands at Rs 85. With the IPO’s price band set at Rs 147.00, analysts estimate the IPO’s listing price to be around Rs 232, indicating an expected percentage gain per share of 57.82%.
The Beacon Trusteeship opens for subscription on May 28, 2024, and closes on May 30, 2024. It constitutes a book-built issue valued at Rs 32.52 crores, comprising a fresh issue of 38.72 lakh shares worth Rs 23.23 crores and an offer for sale of 15.48 lakh shares totaling Rs 9.29 crores.
The price band for this upcoming SME IPO is set at Rs 57 to Rs 60 per share. Beeline Capital Advisors Pvt Ltd is designated as the book running lead manager for the Beacon Trusteeship IPO, while Kfin Technologies Limited serves as the registrar for the issue.
The Grey Market Premium (GMP) for the Beacon Trusteeship SME stands at Rs 65. With the price band set at Rs 60.00, analysts estimate the IPO’s listing price to be around Rs 215, indicating an expected percentage gain per share of 108.33%.
The subscription for the Ztech India IPO commences on May 29, 2024, concluding on May 31, 2024. This SME IPO, valued at Rs 37.30 crore, comprises solely a fresh issue of 33.91 lakh shares. The price band is established at Rs 104 to Rs 110 per share. Narnolia Financial Services Ltd acts as the book running lead manager for the Ztech India, with Maashitla Securities Private Limited serving as the registrar.
The Grey Market Premium (GMP) for the Ztech India SME stands at Rs 65. With the price band set at Rs 110.00, analysts estimate the IPO’s listing price to be around Rs 175, implying an expected percentage gain per share of 59.09%. The Aimtron Electronics IPO subscription opens on May 30, 2024, concluding on June 3, 2024. This SME IPO, valued at Rs 87.02 crore, comprises solely a fresh issue of 54.05 lakh shares.
The price band is set at Rs 153 to Rs 161 per share. Hem Securities Limited is the appointed book running lead manager, with Link Intime India Private Ltd designated as the registrar. The Grey Market Premium (GMP) for the Aimtron Electronics SME stands at Rs 40. With the price band set at Rs 161.00, analysts estimate the listing price to be around Rs 201, indicating an expected percentage gain per share of 24.84%.
The TBI Corn subscription opens on May 31, 2024, concluding on June 4, 2024. This book-built issue, valued at Rs 44.94 crore, consists solely of a fresh issue of 47.81 lakh shares.
The IPO’s price band is set at Rs 90 to Rs 94 per share. Swastika Investmart Ltd and Ekadrisht Capital Private Limited are the appointed book running lead managers, with Kfin Technologies Limited designated as the registrar. The allotment for the GSM Foils IPO is expected to be finalized on Wednesday, May 29, 2024. The IPO is set to list on NSE SME, with a tentative listing date set for Friday, May 31, 2024.
The Grey Market Premium (GMP) for the GSM Foils SME stands at Rs 8. With the IPO’s price band set at Rs 32.00, analysts estimate the listing price to be around Rs 40, suggesting an expected percentage gain per share of 25%. The allotment for the Awfis Space Solutions IPO is anticipated to be finalized on Tuesday, May 28, 2024. It is scheduled to list on both BSE and NSE, with a tentative listing date set for Thursday, May 30, 2024. The Grey Market Premium (GMP) for the Awfis Space Solutions stands at Rs 113. With the price band set at Rs 383.00, analysts estimate the listing price to be around Rs 496, indicating an expected percentage gain per share of 29.50%.
