IPO Rush: Four New SME Issues To Open This Week
As primary market activity slows, four new SME IPOs will open next week, whereas three continuing issues will close.
India's primary market hit a roadblock in March, with a notable slowdown in initial public offerings, marked by a complete absence of mainboard offerings and listings so far this month.
The upcoming SME IPOs in India this week are Desco Infratech Ltd., Shri Ahimsa Naturals Ltd., ATC Energies System Ltd. and Indentixweb Ltd. There are three active SME IPOs — Grand Continent Hotels Ltd., Rapid Fleet Ltd., and Active Infrastructures Ltd. — that will close this week.
The week will see the listing of five SMEs — Paradeep Parivahan Ltd. and Divine Hira Jewellers Ltd., along with the three issues culminating in the first half.
Desco Infratech
IPO opens: March 24.
IPO closes: March 26.
Tentative allotment date: March 27.
Tentative Listing date: April 1.
Face value: Rs 10 per share.
Price Band: Rs 147 to Rs 150 per share.
Lot size: 1,000 shares.
Issue type: Book built issue.
Listing platform: BSE SME.
About Desco Infratech
Incorporated in January 2011, Desco Infratech is an infrastructure company focused on engineering, procurement and construction. The company operates across various sectors, particularly in city gas distribution, renewable energy, water and power sectors.
The company specialises in developing and constructing pipelines, roads, bridges and other critical structures.
Shri Ahimsa Naturals
IPO opens: March 25.
IPO closes: March 27.
Tentative allotment date: March 28.
Tentative Listing date: April 2.
Face value: Rs 10 per share.
Price Band: Rs 113 to Rs 119 per share.
Lot size: 1,200 shares.
Issue type: Book built issue.
Listing platform: NSE SME.
About Shri Ahimsa Naturals
Incorporated in 1990, Shri Ahimsa Naturals extracts and manufactures caffeine anhydrous, green coffee bean extracts and crude caffeine, also trading other herbal extracts.
The company's products find its application in the food and beverage, nutraceuticals, cosmetics and pharmaceutical industries due to their health benefits.
The company's product portfolio includes natural caffeine, which is extracted from seeds of various plants like coffee and tea. Their caffeine is used in energy drinks, soft drinks, cosmetics and pharmaceuticals.
ATC Energies
IPO opens: March 25.
IPO closes: March 27.
Tentative allotment date: March 28.
Tentative Listing date: April 2.
Face value: Rs 10 per share.
Price Band: Rs 112 to Rs 118 per share.
Lot size: 1,200 shares.
Issue type: Book built issue.
Listing platform: NSE SME.
About ATC Energies System
Incorporated in 2020, ATC Energies is a company that operates in the energy sector, focusing on providing energy solutions, products and services.
The company produces and supplies efficient, low-cost lithium and Li-ion batteries, offering integrated energy storage solutions for industries like banking, automobiles and other end users.
The company started by producing mini batteries for the banking industry and now manufactures batteries of all sizes, offering customised solutions for various industries and applications through in-house design and engineering.
Identixweb
IPO opens: March 26.
IPO closes: March 28.
Tentative allotment date: April 1.
Listing date: April 3.
Face value: Rs 10 per share.
Price Band: Rs 51 to Rs 54 per share.
Lot size: 2,000 shares.
Issue type: Book built issue.
Listing platform: BSE SME.
About Identixweb
Identixweb is a Shopify app development company and custom web solutions provider. Incorporared in 2017, it offers services including Shopify app development, web app development using PHP and React, and WordPress plugin development.
The company has developed 35 Shopify and completed over 100 projects for clients across e-commerce, fashion, fintech, and SaaS spaces.
