So far this year, six mainboard and about 57 SME initial public offers (IPOs) have hit the street, making the primary market a busy place. So far this year, the Mankind Pharma IPO, which was worth more than 4,300 crore, was the biggest IPO. A lot of companies have filed draughts of their prospectuses, which shows that the IPO market will pick up in the near future. One mainboard IPO and one SME IPO are also set to happen in the coming week. Here are the IPOs that will happen from May 5 to May 9 of this week.
IKIO Lighting Initial Public Offering
Sign-ups for the IKIO Lighting IPO will start on June 6 and end on June 8. The IPO, which is worth 607 crore, includes a fresh issue of equity shares worth up to 350 crore and an offer-for-sale (OFS) by owners of up to 90 lakh equity shares. The price range for each share is between 270 and 285 yen. Anchor buyers will be able to start putting in bids on June 5. The red herring prospectus (RHP) says that the founders of the company, Hardeep Singh and Surmeet Kaur, will sell their shares in the OFS.
IKIO Lighting’s initial public offering (IPO) has a lot size of 52 shares, and individual buyers can bid on a maximum of 13 lots. On June 13, the company will decide how shares will be given out. On June 16, the shares should be traded on the BSE and NSE.
IKIO Lighting makes light-emitting diode (LED) lighting products with a focus on making LED products that are green and use less energy. The issue’s registrar is Kfin Technologies, and the only book-running head manager is Motilal Oswal Investment Advisors.
IKIO Lighting IPO GMP: As of Friday, the grey market price (GMP) for an IKIO Lighting IPO share was 75. On June 2, the IKIO Lighting IPO GMP rose from 50 to 75. On June 1, it was 50. On May 31, the GMP was 20. Based on the June 2 GMP of 75 and the higher price band of 285, the likely listing price for IKIO Lighting shares will be 360 per share.
IPO for Sonalis Consumer Products
The SME IPO for Sonalis Consumer Products will start on June 7 and end on June 9, 2023. The IPO is a new sale of 9.44 million shares, each of which costs 30. Each share has a face value of 10.
Sonalis Consumer Products’ initial public offering (IPO) has a lot size of 4,000 shares, which brings the value of private investors to 1,20,000. Important IPO dates include June 14, when the reason for giving out shares will be set, and June 15, when refunds will start. The shares will be added to the demat accounts of qualified investors on June 16, and the shares may be listed at BSE SME on June 19.
Sonalis Consumer Products makes and sells bars and snacks that are good for you. During the year that finished on December 31, 2022, the company sold its goods in three states: Maharashtra, Gujarat, and Goa. The company plans to use some of the money from the sale to pay for operating capital and other general business needs. Aside from the two IPOs that are coming up this week, the registration period for the Kore Digital and Comrade Appliances IPOs that are already going on will end.
Kore Digital’s first public offering
The initial public offering (IPO) of Kore Digital Ltd, a company that builds infrastructure for telecommunications, began on June 2 and will end on June 7. The Kore Digital initial public offering (IPO), which is worth 18 crore, consists of a new issue of 10 lakh equity shares, each with a face value of 10, at a set price of 180 per share. It’s a SME IPO, and the shares will be traded on NSE SME Emerge on June 15.
The lot size for the initial public offering (IPO) of Kore Digital is 800 shares. The grounds for distributing shares will be set on June 12, and refunds will begin on June 13. The company installs and commissions towers and Optical Fibre Cable (OFC) Systems in Maharashtra and provides communication options to businesses and telecom network operators. So far, 2.24 times as many people have signed up for the Kore Digital IPO. As of June 2, 2023, it has been signed up for 0.18 times in the shopping category and 4.09 times in the Other category.
Comrade Appliances Initial Public Offering
The first day of the IPO for Comrade Appliances was May 31, and it will end on June 5, 2023. The SME IPO is made up of 22.78 lakh new shares, each of which has a face value of 10, and a price range of 52 to 54 per share. At the top of the price range, the total amount of the issue is 12.30 crore. The number of shares in a lot is 2,000. The allotment for the IPO will be set on June 8, and returns will start on June 9. On June 12, the shares will be put into the demat accounts of investors who are qualified to do so. On June 13, the shares will be listed at BSE SME.
Comrade Appliances makes long-lasting consumer goods like air coolers and electric geysers and also puts together different products. It makes things at a factory in Palghar, and it sells, markets, and makes things under the brand name “Comrade.” So far, the public issue of Comrade Appliances has been subscribed to 5.11 times. As of June 2, 2023, the public issue has been subscribed to 9.42 times in the retail category, 0.01 times in the QIB category, and 2.68 times in the NII category.