After a busy week of listings and maiden initial public offerings, primary market activity is expected to slow down in the coming week, with three IPOs opening and six listings scheduled.
In the IPO space, Indo Farm Equipment Ltd. will launch its maiden issue for subscription on Tuesday. The agricultural equipment manufacturer has reduced the size of its fresh issue from 1.05 crore shares to 86 lakh shares. The offer-for-sale component will include 35 lakh shares, which will be sold by promoter Ranbir Khadwalia, according to the red herring prospectus. The three-day IPO will close on Jan. 2.
On the same day, Technichem Organics Ltd., an SME-focused IPO, will open for subscription. The company is looking to raise Rs 25.2 crore by offering shares in the price band of Rs 52 to Rs 55 per share. Leo Dryfruits & Spices Trading Ltd. is another SME IPO that will open on New Year's Day.
New Listing
On the listing front, Unimech Aerospace and Manufacturing Ltd., Senores Pharmaceuticals Ltd., Ventive Hospitality Ltd., and Carraro India Ltd. are set to debut on the exchanges this week.
While Unimech Aerospace was subscribed 180 times on the last day, Senores Pharmaceuticals was subscribed 93 times. Ventive Hospitality and Carraro India were subscribed nine times and 1.12 times respectively.
The grey market premiums of these public issues point to a bumper listing as the year ends. The GMP of Unimech Aerospace stood at Rs 666 per share as of 5:53 p.m. on Friday. The GMP of Senores Pharmaceuticals was Rs 281 per share as of 5:55 p.m., while that of Ventive Hospitality IPO stood at Rs 77 as of 7:29 pm, indicating a potential gain of 11.98%.
The week will conclude with the listings of Citichem India Ltd. and Anya Polytech & Fertilizers Ltd., both of which are entering the SME segment.
With fewer IPOs and a busy listing schedule, the primary market will experience a quieter week compared to the previous surge in activity.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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