After a lull in primary market activity, a mild revival will be seen this week with Ather Energy Ltd. launching its initial public offering in the mainboard segment. Along with the electric two-wheeler maker, four small and medium enterprises will also be opening their IPOs.
This relative uptick in IPO activity comes after a period of drought, as public issues in the mainboard segment had dried out over the past couple of weeks.
The much-awaited IPO of Ather Energy will open on Monday, April 28. On the same date, two SMEs — Iware Supplychain Services Ltd. and Kenrik Industries Ltd. — will launch their public issues. The third SME IPO of the week, of Arunaya Organics Ltd., will open on Tuesday, April 29.
The fourth SME IPO of the week is of Wagons Learning Ltd., which will open on Friday, May 2.
Ather Energy IPO
IPO opens: April 28
IPO closes: April 30
Issue size: Rs 2,981 crore
Fresh issue: Rs 2,626.3 crore
OFS: Rs 354.76 crore
Tentative allotment date: May 2
Tentative Listing date: May 6
Face value: Rs 1 per share
Price Band: Rs 304 to Rs 321 per share
Lot size: 46 shares
Issue type: Bookbuilding IPO
Listing platform: BSE, NSE
About Ather Energy
Ather Energy is an Indian electric two-wheeler company that designs, develops and assembles electric scooters, in-house. They also do the same for battery packs, charging infrastructure, and supporting software systems. The company's most prominent products include Ather Grid, a public fast-charging network for two-wheelers, and Atherstack, their proprietary software platform that had 64 connected features as of July 2024.
Ahead of its April 28-30 initial public offering, the firm secured Rs 1,340 crore from anchor investors, with domestic mutual funds accounting for almost 50% of the allocation. The shares were allocated at Rs 321 each, the highest price in the offered range.
A diverse group of 36 anchor investors received shares, with participants ranging from SBI Mutual Fund and Abu Dhabi Investment Authority to Franklin Templeton, Morgan Stanley, Societe Generale, and ICICI Prudential.
Iware Supplychain Services IPO
IPO opens: April 28
IPO closes: April 30
Issue size: Rs 27.13 crore
Fresh issue: Rs 27.13 crore
OFS: Nil
Tentative allotment date: May 2
Tentative listing date: May 6
Face value: Rs 10 per share
Price Band: Rs 95 per share
Lot size: 1,200 shares
Issue type: Fixed price IPO
Listing platform: NSE SME
About Iware Supplychain Services
iWare Supply Chain Services is an integrated logistics firm with a diverse service portfolio that includes warehousing (covering third-party logistics and carrying and forwarding agent activities), alongside transportation, rake handling services, and business auxiliary support.
The firm operates across many states in India such as Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi.
Arunaya Organics IPO
IPO opens: April 29
IPO closes: May 2
Issue size: Rs 33.99 crore
Fresh issue: Rs 30.51 crore
OFS: Rs 3.48 crore
Tentative allotment date: May 5
Tentative Listing date: May 7
Face value: Rs 10 per share
Price Band: Rs 55 to Rs 58 per share
Lot size: 2,000 shares
Issue type: Bookbuilding IPO
Listing platform: NSE SME
About Arunaya Organics
Arunaya Organics makes and exports specialty dyes and intermediates. The company provides its chemical products to many industries such as textiles, paints, plastics, mining, and food processing.
Kenrik Industries IPO
IPO opens: April 29
IPO closes: May 6
Issue size: Rs 8.75 crore
Fresh issue: Rs 8.75 crore
OFS: Nil
Tentative allotment date: May 7
Tentative listing date: May 9
Face value: Rs 10
Price Band: Rs 25 per share
Lot size: 6,000 shares
Issue type: Fixed price IPO
Listing platform: BSE SME
About Kenrik Industries
Kenrik Industries designs and distributes traditional Indian jewellery. The company's product line line includes handmade gold jewellery fitted with precious and semi-precious stones, such as diamonds, rubies, and cubic zirconia. The products are custom-made, tailored to the requirements of every individual customer.
Wagons Learning IPO
IPO opens: May 2
IPO closes: May 6
Issue size: Rs 38.38 crore
Fresh issue: Rs 25.26 crore
OFS: Rs 13.12 crore
Tentative allotment date: May 7
Tentative listing date: May 9
Face value: Rs 10
Price Band: Rs 78-82 per share
Lot size: 1,600 shares
Issue type: Bookbuilding IPO
Listing platform: BSE SME
About Wagons Learning
A business-to-business focussed company, Wagons Learning was set up in 2013. The firm is engaged in providing services ranging from corporate training to skill development solutions, and digital learning. It also offers services related to trainer outsourcing and payroll management.
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