Upcoming IPOs: CMR Green Technologies, Hexagon Nutrition To List This Week; 4 SME IPOs Closing

The primary market will be active this week with two mainboard listings, and the closing of the bidding window of four small and medium enterprise (SME) issues. Here are some of the key details of the public issues set to list this week.

Hexagon Nutrition IPO

The bidding window for Hexagon Nutrition’s public issue opened for subscription on June 5 and is scheduled to close on June 9. Following the closure, the basis of share allotment will be finalised on June 10, with refunds and demat credits initiated on June 11. Shares of the company are tentatively scheduled to debut on the BSE and NSE on June 12.

Hexagon Nutrition aims to raise Rs 138.87 crore entirely through an offer for sale (OFS) of 30.90 million equity shares. The price band for the public offer has been fixed at Rs 42-45 per share. Retail investors can apply for a minimum lot size of 333 shares, which translates to a base investment of Rs 14,985 at the upper cap.

So far, the public issue has been subscribed 1.65 times across categories. Retail individual investors and non-institutional investors (NIIs) booked their quotas 2.42 times and 2.03 times, respectively. Qualified institutional buyers (QIBs) have placed no bids so far.

Founded in 1993, the company develops and manufactures clinical nutrition products, branded wellness supplements, and micronutrient premixes for global FMCG brands.

CMR Green Technologies Allotment and Listing

Following a heavily subscribed bidding window that ran from June 3-5, the share allotment of CMR Green Technologies’ initial public offering (IPO) is set to be finalised on June 8. The tentative listing date on the BSE and NSE has been fixed for June 10. The book-built issue sought to raise Rs 630.88 crore through OFS of 32.9 million equity shares priced at a band of Rs 182-192 per share.

The issue closed with an overall subscription of 127.04 times. QIBs booked their allocated portion 270.46 times, NIIs packed their segment 172.35 times, and retail individual investors covered their quota 27.03 times. Employees of the company booked the issue 18.53 times.

CMR Green Technologies operates as a prominent non-ferrous metal recycler in India. The company primarily supplies recycled aluminium and zinc alloys to automotive and manufacturing sectors.

4 SME Issues Set To Close For Bidding

As many as four SME issues are set to close for subscription this week. Here’s a look at the details of the public issues:

Vahh Chemicals IPO

The bidding window for Vahh Chemicals opened on June 4 and is scheduled to close on June 8, with its listing set for the NSE SME platform on June 11. The company aims to raise Rs 13.45   crore, consisting of a fresh issue of 2.20 million shares. The fixed price for the issue is Rs 60 per share.

UHM Vacation IPO

UHM Vacation's public issue opened on June 4 and closed on June 8, targeting a listing on the BSE SME platform on June 11. The company is raising Rs 36.02 crore through a fresh issue of 1.70 million shares valued at Rs 29.04 crore and an OFS of 400,000 shares aggregating to Rs 6.97 crore. The price band for the issue is Rs 157-166 per share.

Genxai Analytics IPO

The bidding window for Genxai Analytics opened on June 5 and is set to close on June 9, with shares listing on the BSE SME platform on June 12. The company is looking to raise Rs 54.84 crore entirely through a fresh issue of 4.70 million shares, with a fixed price band of Rs 110-116 per share.

Horizon Reclaim IPO

The Horizon Reclaim public issue will open on June 12 and the subscription window will close on June 16. Shares will debut on the BSE SME platform on June 19. The company seeks to raise Rs 54.27 crore through a fresh issue of 5.30 million shares, with an established price band of Rs 98-103 per share.

Sebi Greenlights Fresh Public Issues

Adding to the pipeline, the Securities and Exchange Board of India (Sebi) has recently granted final observation approvals to several major corporate filings, setting the stage for the next wave of mainboard IPOs. The regulator has granted final observation approvals to major corporate filings, including the massive Rs 3,000-crore IPO for Warburg Pincus-backed Truhome Finance. Alongside it, the market regulator also greenlit the blockbuster Rs 6,650-crore IPO for hospitality tech giant OYO's parent entity, Prism.