Upcoming IPOs This Week: Three New SME Issues, Eight Listings To Hit Dalal Street

India's primary market will see muted activity in the upcoming week, in a year that has already seen a record amount raised via initial public offerings.

Three new issues will open in the week starting in the year's final month in small and medium enterprises, with none in the mainboard segment. However, the bidding of Suraksha Diagnostic will be carried forward to next week, having been subscribed 11% on day one.

The REIT IPO of Property Share Investment Trust will open for bidding on Dec. 2 and will be India's first registered SME real estate investment trust. The Rs 352.91-crore IPO is an entirely fresh issue of 3,000 shares. The price band of the IPO has been fixed at Rs 10,00,000 to Rs 10,50,000 per share.

In the SME segment, Nisus Finance Services Co. will launch its maiden issue on Dec. 4, seeking to raise Rs 114.2 crore. The issue will open at a price of Rs 170 to 180 per share. The IPO comprises a fresh issue size of 56.4 lakh equity shares and an offer for sale of 7 lakh shares. 

Emerald Tyre Manufacturers Ltd.'s public offering will open for bidding on Dec. 5 at a price band of 90 to 95 apiece, as it aims to mop up Rs 49.26 crore.

Meanwhile, the ongoing issue of Suraksha Diagnostic is entirely an offer for sale of 1.92 crore shares the company will raise Rs 846.25 crore at a price band of Rs 420–441 per share.

The promoters selling their shares include Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma. Meanwhile, OrbiMed Asia II Mauritius Ltd., Munna Lal Kejriwal and Santosh Kumar Kejriwal are the investors selling their stake in the company.

Foreign investors have been pulling record sums from Indian shares since October and piling into initial public offerings in search of better returns. Their primary market purchases, including IPOs and preferential share sales, hit $11.5 billion this year, surpassing the previous record set in 2021, according to Bloomberg News.

On the listing front, eight companies will debut on the exchanges with only one among them in the mainboard segment. Suraksha Diagnostic will debut on the national bourses on Dec. 6 after its IPO ends on Dec. 03.

Rajesh Power Services Ltd., which has raised Rs 160.47 will debut on the SME segment on Dec. 2. The scrips' of C2C Advanced Systems Ltd. and Rajputana Biodiesel Ltd. will list on Dec. 3.

Ganesh Infraworld Ltd., Agarwal Toughened Glass India Ltd., Apex Ecotech Ltd. and Abha Power and Steel Ltd. will be the other companies to list later in the week.