Upcoming IPOs This Week: Vishal Megamart, One MobiKwik Among 11 Issues To Open

India's primary market is set for a busy week as issues of 11 companies including mainboard and SMEs will open for subscription while three companies will make their debut on the stock exchanges.

Mainboard issues to open for subscription in the upcoming week include One MobiKwik Systems Rs 572 crore issue, Vishal Mega Mart which plans to raise Rs 8,000 crore, Rs 4,000 crore IPO of International Gemmological Institute (India), Sai Life Sciences and Inventurus Knowledge Solutions Ltd.

In the SME segment, Dhanlaxmi Crop Science, Toss The Coin, Jungle Camps India, Supreme Facility Management, Purple United Sales, and Yash High Voltage will open for subscription.

Sai Life Sciences has proposed to use the proceeds of the issue towards repayment of borrowings and general corporate purposes and Vishal Mega Mart's offer for sale has promoter Samyat Services LLP offloading stake.

According to Gurugram-based One MobiKwik's DRHP it plans to utilise proceeds from its fresh issue for the allocation, which includes Rs 150 crore to support growth in its financial services sector, Rs 135 crore for expansion in payment services, and another Rs 107 crore for investments in data, machine learning, artificial intelligence, and technology development.

The REIT IPO of Property Share Investment Trust will list on BSE on Monday after getting fully subscribed on its last day of subscription. The REIT will purchase the office property, currently owned by US-based tech company 24/7 AI, and lease it back to the seller at 9% rental yield for the first year. The lease agreement will span a period of nine years. Notably, this marks a step in furthering the reach of SM REITs, which target smaller and medium-sized real estate properties as compared to large commercial properties.

Meanwhile, shares of Emerald Tyre Manufacturer will list on NSE SME Thursday and Nisus Finance Services on BSE SME on Wednesday. Emerald Tyre Manufacturers Ltd's IPO that opened on Thursday, received a tremendous response from the investors as the SME issue was subscribed 114.84 times on Friday.

Rs 114.24-crore initial public offering of Nisus Finance Services Co. that opened for bidding on Wednesday concluded its subscription with overwhelming response from investor as it was booked 192.29 times on Friday.