India's primary market will see four initial public offerings (IPOs) open for subscription in the coming week, with companies collectively looking to raise nearly Rs 1,460 crore.
Two mainboard issues — Kusumgar Ltd. and Laser Power & Infra Ltd. — will headline the IPO calendar, aiming to raise a combined Rs 1,392 crore. The SME segment will see two new issues from Happy Steels Ltd. and Devson Catalyst Ltd., which plan to raise a total of Rs 67.34 crore.
The coming week will also see a busy listing calendar, with two mainboard and seven SME companies scheduled to make their stock market debuts.
Kusumgar IPO Opens July 8
Kusumgar Ltd. will open its Rs 650 crore IPO for subscription on July 8. The issue is priced in a band of Rs 398 to Rs 419 per equity share and will close on July 10.
The book-built issue is entirely an offer for sale of 1.55 crore equity shares by existing shareholders. Axis Capital is the book-running lead manager, while Bigshare Services is the registrar to the issue.
Laser Power & Infra IPO To Open On July 9
Laser Power & Infra Ltd. will open its Rs 742 crore IPO for subscription on July 9 and close on July 13.
The public issue comprises a fresh issue worth Rs 542 crore and an offer for sale of Rs 200 crore. The price band is yet to be announced.
IIFL Capital Services is the book-running lead manager, while MUFG Intime India is the registrar to the issue.
Happy Steels IPO Opens July 9
Happy Steels Ltd. will launch its Rs 25 crore SME IPO on July 9, with the issue set to close on July 13.
The public offer is entirely a fresh issue of 38 lakh equity shares and has been priced in a band of Rs 62 to Rs 66 per share.
Share India Capital Services is the book-running lead manager, Bigshare Services is the registrar and Share India Securities is the market maker for the issue.
Devson Catalyst IPO To Open On July 9
Devson Catalyst Ltd. will also open its SME IPO on July 9 and close the issue on July 13.
The company aims to raise Rs 42.34 crore through the public offer, comprising a fresh issue of 33 lakh shares worth Rs 39.39 crore and an offer for sale of three lakh shares worth Rs 2.95 crore.
The IPO is priced in a band of Rs 112 to Rs 118 per share. JJ IPO Advisors is the book-running lead manager, MUFG Intime India is the registrar and MNM Stock Broking is the market maker.
Nine IPO Listings Due This Week
The listing calendar will also remain active. Aastha Spintex is scheduled to list on the BSE and NSE on July 6, while Knack Packaging has a tentative mainboard listing date of July 8.
In the SME segment, Adon Agro Commodities is expected to list on July 6. Teja Engineering Industries, Atharva Polyplast, Seemax Resources, Sampark India Logistics, Vinit Mobile and Kratikal Tech have tentative listing dates of July 7.
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