Upcoming IPOs: JNK India, Varyaa Creations and two other SME public issues scheduled for this week

The primary market will resume operations after a break with the opening of four new initial public offerings (IPOs), including a mainboard and three public issues targeting small and medium-sized enterprises (SMEs).

The IPO market started the new fiscal year FY25 slowly, but market experts are optimistic about the upcoming public issues.

Also Read: Ola Cabs IPO Is Imminent! Bhavish Aggarwal's company in talks with banks for IPO advisors: report

“Despite a slow start at the beginning of the new financial year, we are extremely optimistic about the IPOs planned for the remainder of the year. This optimism is driven by a confluence of factors including the rise in domestic capital, improved governance practices, the vibrant spirit of Indian entrepreneurship and favorable government policies supported by support for foreign direct investment,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. GmbH.

Vodafone Idea's follow-on public offerings opened last week, aiming to raise more than $100,000 ₹18,000 Crore. In the motherboard segment, JNK India's IPO will open for subscription next week to raise funds ₹649 crore.

Here is a list of IPOs that will open for subscription in the coming week:

JNK India IPO

The JNK India IPO is open for subscription on April 23, 2024 and closes on April 25, 2024. It is a book edition of ₹649.47 crores and is a combination of fresh issues of 0.76 crore shares aggregating to 0.76 crores ₹300 Crore and offer for sale of shares totaling 0.84 Crore ₹349.47 crores.

Also Read: JNK India IPO announces price range ₹395-415 per share; Review issue details, important dates, and more

The price range for the IPO was set at ₹395 tons ₹415 per share. IIfl Securities Ltd and ICICI Securities Limited are the underwriters of JNK India's IPO while Link Intime India Private Ltd is the registrar for the issue.

Vodafone Idea Limited FPO

The VI FPO bid opened for subscription on April 18, 2024 and closes on April 22, 2024. The total offering size includes fresh issue of shares with a total value of up to ₹18,000 Crore.

Also Read: Vodafone Idea FPO: Issue got 49% subscription on second day, QIBs steal the show; Check the latest GMP

The price range of VI FPO is ₹10 to ₹11 per share. Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the bookrunners of the VI FPO while Link Intime India Private Ltd is the registrar for the issue.

Varyaa Creations IPO

The Varyaa Creations IPO is open for subscription on April 22, 2024 and closes on April 25, 2024. The SME IPO is a fixed price issue of ₹20.10 Crores and is a pure fresh issue of 13.4 lakh shares.

Also Read: Varyaa Creations IPO begins next week. GMP, price, further details on the upcoming SME IPO

The price range of the SME IPO is ₹150 per share. Inventure Merchant Banker Services Pvt Ltd is the book running lead manager of the IPO of Varyaa Creations while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Varyaa Creations' IPO is Svcm Securities.

Emmforce Autotech IPO

Emmforce Autotech IPO is open for subscription on April 23, 2024 and closes on April 25, 2024. SME IPO is a book edition of ₹53.90 crores and is entirely a fresh issue of 55 lakh shares.

The price range for Emmforce Autotech's IPO is at ₹93 to ₹98 per share. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Emmforce Autotech IPO while Link Intime India Private Ltd is the registrar for the issue. The market maker for Emmforce Autotech's IPO is Spread X Securities.

Shivam Chemicals IPO

The Shivam Chemicals IPO is open for subscription on April 23, 2024 and closes on April 25, 2024. The SME IPO is a fixed price issue of ₹20.18 Crores and is a pure fresh issue of shares worth Rs 45.87 lakh.

The IPO price of Shivam Chemicals is ₹44 per share. Aryaman Financial Services Limited is the book-running lead manager of the Shivam Chemicals IPO while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Shivam Chemicals IPO is Shreni Shares.

Faalcon Concepts IPO

The Faalcon Concepts IPO offering opened for subscription on April 19, 2024 and closes on April 23, 2024. The SME IPO is a fixed price issue of ₹12.09 crore and is entirely a fresh issue of 19.5 lakh shares.

Also Read: Faalcon Concepts IPO Price Range Set at ₹62 per share; SME IPO scheduled to open on April 19th

Faalcon Concepts IPO price is ₹62 per share. Navigant Corporate Advisors Ltd is the book running lead manager of the IPO of Faalcon Concepts while Beetal Financial & Computer Services (P) Limited is the registrar for the issue. The market maker for Faalcon Concepts' IPO is Alacrity Securities.

New entries

Vodafone Idea Limited FPO: Allotment for the VI FPO is expected to be completed on Tuesday, April 23, 2024. It will be listed on the BSE and NSE with the tentative listing date set at Thursday, April 25, 2024.

Greenhitech Ventures IPO: Allotment for Greenhitech Ventures' IPO was completed on Thursday, April 18, 2024. The IPO will be listed on BSE SME on April 22, 2024.

Ramdevbaba Solvent IPO: The allotment for the IPO of Ramdevbaba Solvent was completed on Friday, April 19, 2024. The SME IPO will be listed on the NSE SME, with the preliminary IPO set for Tuesday, April 23, 2024.

Grill Splendor Services Limited (Birdy) IPO: Allotment for Birdy's IPO was completed on Friday, April 19, 2024. The IPO will be listed on the NSE SME with the preliminary IPO set for Tuesday, April 23, 2024.

Faalcon Concepts IPO: Allotment for Faalcon Concepts' IPO is expected to close on Wednesday, April 24, 2024. The IPO will be listed on the BSE SME with the preliminary IPO set for Friday, April 26, 2024.

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