Upcoming IPO Listings To Watch: Garuda Construction, Pranik Logistics, Shiv Texchem

Three counters—one mainboard and two SME—are set to make their debut on the stock market in the coming days. With tentative listing dates approaching, here's the IPO details of Garuda Construction and Engineering, Pranik Logistics and Shiv Texchem.

Garuda Construction and Engineering

Tentative Listing Date: Oct. 15, 2024

Garuda Construction and Engineering Ltd.'s IPO garnered attention with a bidding period that ran from Oct. 8 to Oct. 10. On Oct. 11, the finalisation of the allotment paved the way for its stock to debut on the BSE and the National Stock Exchange on Tuesday.

The IPO was subscribed 7.55 times on its third and final day. It was subscribed 1.91 times on Day 1 and 4.10 times on Day 2. The subscription was led by retail investors.

The company set the price band of the maiden offer between Rs 90 and Rs 95 per share, enabling it to raise a total of Rs 264.10 crore. This amount includes a fresh issue of 1.83 crore equity shares worth Rs 173.85 crore and an offer-for-sale component comprising 95 lakh shares valued at Rs 90.25 crore.

SME IPOs

Pranik Logistics

Tentative Listing Date: Oct. 17, 2024

Pranik Logistics' ongoing IPO opened for subscription on Oct. 10 and will close on Monday, that is, Oct. 14. The allotment for this IPO is scheduled on Oct. 15.

This book-built issue aims to raise Rs 22.47 crore entirely through a fresh issue of 29.18 lakh shares. The price band for the Pranik Logistics IPO is set between Rs 73 and Rs 77 per share. The minimum application lot size is 1,600 shares, requiring a minimum investment of Rs 1,23,200 for retail investors. For high-net-worth individuals, a minimum investment of Rs 2,46,400 is needed for two lots. The shares will list on the NSE SME platform.

Shiv Texchem

Tentative Listing Date: Oct. 15, 2024

Shiv Texchem Ltd.'s IPO too has attracted considerable interest. The bidding for this issue took place from Oct. 8 till Oct. 10, with allotment finalised on Oct. 11. Similar to Garuda, Shiv Texchem's shares are expected to debut on Oct. 15.

The SME issue was subscribed 3.79 times on day 1 and 11.58 times on Wednesday (day 2). On its final day, the SME IPO of Shiv Texchem was subscribed more than 150 times.

This book-built issue aims to raise Rs 101.35 crore through an entirely fresh issue of 61.06 lakh shares. The price band for the Shiv Texchem IPO is set between Rs 158 and Rs 166 per share, with a minimum lot size of 800 shares, translating to a minimum investment of Rs 1,32,800 for retail investors. High net worth individuals must apply for a minimum of two lots for an investment of Rs 2,65,600. Vivro Financial Services Private Ltd. serves as the book running lead manager, while Link Intime India Private Ltd. acts as the registrar.