An initial public offering (IPO) is the offering of shares in a private company to the public as part of a new share offering. Dalal Street is gearing up for another busy week in the primary market as a main board and two small and medium sized enterprise (SME) IPOs will take place in the primary market this week, while a main board and SME IPO will take place on Monday this week be completed.
Pyramid Technoplast
Pyramid Technoplast’s IPO will open for public subscription on August 18th and close on August 22nd. The allocation to anchor investors will take place on August 17.
The IPO includes a new issue of 55 lakh shares and an offer to sell (OFS) of 37.2 lakh shares. As part of the OFS, promoter Credence Financial Consultancy will sell 37.2 lakh shares.
The company has set a price range of Rs 151-166 per share and investors can bid for a minimum of 90 shares in one lot and multiples thereafter. The share allotment is expected to be completed on or about August 25 and the tentative listing date is approximately August 30.
Pyramid Technoplast is aiming to raise somewhere between Rs 139 crore and 153 crore from the IPO and the ex post market capitalization is expected to be around Rs 611 crore.
Pyramid Technoplast is an industrial packaging company engaged in the manufacture of polymer-based molded products (polymer drums) used primarily by chemical, agrochemical, specialty chemical and pharmaceutical companies for their packaging needs.
TVS Supply Chain Solutions
TVS Supply Chain Solutions’ IPO opened for subscription on August 10th and closes tomorrow, August 14th. By Friday, the issue was fully subscribed, with the retail portion garnering maximum appeal. The company has set the price range at 187-197 rupees per share for its public offering. Investors can bid for a minimum of 76 shares and multiples thereafter. The share allotment will be completed on August 21st and the preliminary listing date is expected to be August 28th.
TVS Supply Chain is an Indian provider of supply chain logistics solutions, which has a network along the value chain with comprehensive application possibilities. The business segments consist of Integrated Supply Chain Solutions (ISCS) and Network Solutions (NS). For the year ended March 2023, the company achieved a turnover of Rs. 10,235 crore and a profit of Rs. 41.76 crore.
SME IPOs
1) Bondada Engineering
Bondada Engineering’s IPO will open for subscription on Friday, August 18th and close on Tuesday, August 22nd.
The IPO price range has been set at Rs.75 per share with a par value of Rs.10 each. Bids can be made for a minimum of 1,600 shares and thereafter for multiples of 1,600 shares. The issue price is 7.5 times the par value of the share.
The Bondada IPO consists of an initial public offering of 56,96,000 shares with a total value of Rs.42.72 crore. According to the Company’s Red Herring Prospectus (RHP), the Company intends to use the gross proceeds from the offering for long-term working capital needs and for general corporate purposes.
2) Shelter Pharma
Shelter Pharma’s IPO, which opened for subscription on August 10, closes on Monday, August 14.
The Gujarat-based company is engaged in the manufacture of herbal products in the human pharmaceutical and veterinary sectors.
The company has priced the IPO at 42 rupees per share. The minimum order quantity is 3,000 shares. Bids may be made for a minimum of 3,000 shares and thereafter in multiples of 3,000 shares.
Shelter Pharma’s IPO drew 3.21 times on the second day. The retail portion was subscribed 5.62 times.
3) Shoora designs
Shoora Designs’ SME IPO will open for subscription on Thursday 17th August and close on Monday 21st August. The SME IPO is a fixed price issue and the total issue size is Rs. 2 crore.
The Shoora Designs IPO is a new offering comprising 4,23,000 shares with a par value of 10 rupees.
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