IPO Tracker: Meesho, Aequs Among 11 IPOs Making D-Street Debut This Week

A very merry first week of December awaits primary market investors as an array of initial public offers will open for subscription on the Dalal Street, while some existing IPOs will have their second and third days of subscription.

Among the mainboard offerings we will see e-commerce company Meesho Ltd.'s much anticipated and globally-backed IPO, along with public offerings of Aequs Ltd. and Vidya Wires Ltd.

The SME segment is going to be even busier with as many as eight new IPOs hitting the D-street, namely — Astron Multigrain, Invicta Diagnostic, Speb Adhesives, Clear Secured Services, Ravelcare, Helloji Holidays Neochem Bio Solutions and, Luxury Time.

Meesho, backed by soft bank, is the most standout IPO in the roster this week with close to 49 crore shares aggregating up to an issue size of Rs 5,421.20 crore. The IPO will open on Dec. 3 and close on Dec. 5.

The issue is a combination of fresh issue of 38.29 crore shares aggregating to Rs 4,250.00 crore and offer for sale of 10.55 crore shares aggregating to Rs 1,171.20 crore. It has a lot size of 135 shares.

Price band for the IPO has been set at Rs 105- Rs 111 per share, according to the company statement. The tentative allotment and listing dates for the IPO are Dec. 8 and Dec. 10 respectively.

The company will use Rs 1,390 crore from the proceeds to invest for cloud infrastructure, in Meesho Technologies Pvt. Ltd its subsidiary, while Rs 480 crore will be used form payment of salaries of existing and replacement hires for the Machine Learning and AI and technology teams. The company will also use Rs 1,020 crore for expenditure towards marketing and brand initiatives in its subsidiary Meesho Technologies.

The equity shares are proposed to be listed on the National Stock Exchange of India and BSE Ltd.

Aequs IPO is a book-building issue of Rs 921.81 crore with close to 7.43 crore shares which will open for subscription on Dec. 3 and close on Dec. 5.

It contains a fresh issue of 5.40 crore shares worth up to Rs 670 crore and an offer for sale of over 2 crore shares of face value of Rs 10 apiece aggregating up to Rs 251.81 crore.

The price band has been set between Rs 118 to Rs 124 per share and the minimum lot share size is 120 shares.

The tentative allotment and listing dates for the IPO are Dec. 8 and Dec. 10 respectively. Shares will list on both BSE and NSE.

Before the offer opens, the company will seek investments from large institutions via the pre-IPO anchor round on Dec. 2.

The last on the mainboard IPO line-up for the week is Vidya wires with 5.76 crore shares aggregating up to an issue size of Rs 300 crore.

It has fixed a its price band between 48-52 per share, with allotment likely on December 8 and listing expected on December 10. 

The issue is a combination of fresh issue of 5.27 crore shares aggregating to Rs 274 crore and offer for sale of 0.50 crore shares aggregating to Rs 26.01 crore.

Here are the eight SME IPOs to open during the week:

Astron Multigrain (Rs 18.40 crore)

• Opening date: Dec. 1

• Closing date: Dec. 3

• Price band: Rs 63 per share

Ravelcare IPO (Rs 24.10 crore)

• Opening date: Dec. 1

• Closing date: Dec. 3

• Price Band: Rs 123 to Rs 130 per share

Invicta Diagnostic (Rs 28.12 crore)

• Opening date: Dec. 1

• Closing date: Dec. 3

• Price Band: Rs 80 to Rs 85 per share

Clear Secured Services (Rs 85.60 crore)

• Opening date: Dec. 1

• Closing date: Dec. 3

• Price Band: 125 to Rs 132 per share

Speb Adhesives (Rs 33.73 crore)

• Opening date: Dec. 1

• Closing date: Dec. 3

• Price Band: Rs 52 to Rs 56 per share

Neochem Bio IPO (Rs 44.97)

• Opening date: Dec. 2

• Closing date: Dec. 4

• Price Band: Rs 93 to Rs 98 per share

Helloji Holidays (Rs 10.96 crore)

• Opening date: Dec. 2

• Closing date: Dec. 4

• Price Band: Rs 110 to Rs 118 per share

Luxury Time (Rs 18.74 crore)

• Opening date: Dec. 4

• Closing date: Dec. 8

• Price Band: Rs 78 to Rs 82 per share