March is seeing a significant stall in initial public offerings, with no mainboard offerings or listings taking place so far.
The week will see the IPOs of two SMEs—Paradeep Parivahan Ltd. and Divine Hira Jewellers Ltd.—opening for subscription. The listing dates for both the IPOs are not yet announced by the companies.
Paradeep Parivahan
Open: March 17.
Close: March 19.
Tentative allotment date: March 20.
Listing date: Not available.
Face value: Rs 10 per share.
Issue price: Rs 93 to Rs 98 per share.
Lot size: 1,200 shares.
Issue type: Fresh issue of 45.8 lakh shares.
Listing platform: BSE SME.
About Paradeep
Founded in 2000, Paradeep Parivahan is a port service provider specialising in logistics, ship husbandry, and stevedoring. It is located at Paradip Port, Odisha.
The company provides services, including cargo handling and bulk cargo imports and exports. It provides services and works with some of the world's most well-known shipping lines.
Paradeep Parivahan is a stevedoring contractor and one of the largest fleet owners on the east coast of India. It has a division with ports in India and Southeast Asia, according to Chittorgarh.
It provides custom house clearance and forwarding agency services. It also offers from mines to ports and intra-port transportation.
Divine Hira Jewellers
Open date: March 17.
Close date: March 19.
Tentative allotment date: March 20.
Listing date: Not available.
Face value: Rs 10 per share.
Issue price: Rs 90 per share.
Lot size: 1,600 shares.
Issue type: Fresh Issue of 35.4 lakh shares
Listing platform: NSE SME
About Divine Hira
Incorporated in July 2022, Divine Hira Jewellers specialises in designing and marketing premium 22-carat gold jewellery. The company caters to wholesalers, showrooms, and retailers with a diverse range of gold jewellery that combines traditional artistry with modern elegance.
Its collection comprises various designs crafted to meet diverse preferences. Products include necklaces, chains, malas, rings, pendants, bracelets, bangles, coins, and wedding jewellery. It emphasises localised design, ensuring creations resonate with regional tastes, according to Chittogarh.
The company is a wholesaler of gold jewellery, silver articles, bullion, and coins in Mumbai. As of Oct. 31, the company had nine employees in various departments.
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