IPO Rush: Two SME Issues This Week

After last week's widely-anticipated Ather Energy Ltd. IPO, the upcoming week is expected to be quieter, with only two SME companies launching their initial public offerings. Meanwhile, there are no upcoming mainboard offerings.

Two companies—Manoj Jewellers Ltd. and Srigee DLM Ltd.—will kick off their IPOs on Monday. Wagons Learning Ltd. and Kenrik Industries Ltd. are the currently active SME IPOs.

The IPO market has significantly slowed down over the past three months. This decline is attributed to US President Donald Trump's tariffs and a broader downturn in global markets, resulting in a halt in new listings.

• IPO opens: May 5.

• IPO closes: May 7.

• Issue size: 30 lakh shares (aggregating up to Rs 16.20 crore).

• Fresh issue: Rs 16.20 crore.

• Tentative allotment date: May 8.

• Tentative Listing date: May 12.

• Face value: Rs 10 per share.

• Lot size: 2,000 shares.

• Issue type: Fixed price IPO.

• Listing platform: BSE SME.

Incorporated in 2007, Manoj Jewellers Ltd. is engaged in the retail business of various jewellery and ornaments made out of gold and diamonds, studded with precious and semiprecious stones.

They are particularly known for their wide range of gold jewellery that includes items such as earrings, rings, necklaces, bracelets, and pendants.

Jawa Capital Services Pvt. is the book-running lead manager of the IPO, while Skyline Financial Services Pvt. is the registrar for the issue. The market maker for the IPO is Shreni Shares Ltd.

• IPO opens: May 5.

• IPO closes: May 7.

• Issue size: 17.15 lakh shares (aggregating up to Rs 16.98 crore).

• Fresh issue: Rs 16.98 crore.

• Price Band: Rs 94-99 per share.

• Tentative allotment date: May 8.

• Tentative Listing date: May 12.

• Face value: Rs 10 per share.

• Lot size: 1,200 shares.

• Issue type: Book building IPO.

• Listing platform: BSE SME.

Srigee DLM is engaged in design-led manufacturing and assembly services, specialising in plastic injection moulding, tool room and die manufacturing, mobile phone sub-assembly, and polymer compounding and trading.

The company that was incorporated in December 2005, as Srigee Enterprises Pvt., caters to industries like consumer durables, home appliances, automotive components, and electronics by delivering high-quality, cost-efficient, and reliable manufacturing solutions to leading original equipment manufacturers.

GYR Capital Advisors Pvt. is the book-running lead manager of the IPO, while Bigshare Services Pvt. is the registrar for the issue. The market maker for the IPO is Globalworth Securities Ltd.