Upcoming IPOs: SBI Funds Management Set To Make D-Street Debut; Lohia Corp, Xtranet Technologies’ Public Issues Set To Open

The primary market is gearing up for a busy week ahead. The subscription windows for two major mainboard public issues are set to open, drawing the attention of retail and institutional investors. On the other hand, investors are also looking forward to the D-street debut of the shares of three companies.

Market participants will be closely watching the listings of SBI Funds Management and Alpine Texworld, alongside the launch of public issues by Xtranet Technologies and Lohia Corp. Here is a look at all the primary market action slated to take place this week:

Caliber Mining IPO

Caliber Mining’s public issue opened for subscription on July 17 and is scheduled to close on July 21. Following the closure of the bidding window, the basis of share allotment is anticipated to be finalised on July 22. Refunds and demat account credits will roll out on July 23.

The public issue saw modest demand on the first day of subscription, as it was booked 1.21 times, as investors placed bids for 9.51 million shares compared to the 7.83 million shares. Retail investors booked their quota 1.58 times, Non-Institutional Investors (NIIs) booked the issue 1.59 times, and Qualified Institutional Buyers booked their quota 29 per cent.

Shares of the company are tentatively slated for listing on the Bombay Stock Exchange and the National Stock Exchange on July 24. The price band for the issue has been fixed at Rs 402 to Rs 424 per equity share. Retail investors can bid for a minimum lot of 35 shares, which translates to a base investment of Rs 14,840.

The company aims to raise up to Rs 450 crore through the public issue. Caliber Mining and Logistics’s public issue comprises a fresh issue of Rs 400 crore and an offer for sale of Rs 50 crore by existing promoters.

Caliber Mining and Logistics provides logistics services for coal mining, such as extraction, overburden removal, loading, unloading, and road and rail transportation coordination.

Xtranet Technologies IPO

Xtranet Technologies is set to open its public issue for subscription on July 23. The public issue will close on July 27. The finalisation of share allotment is expected to take place on July 28. Refunds and demat credits will happen on July 29.

The technology company is expected to list its shares on the Bombay Stock Exchange and the National Stock Exchange on July 30. The price band for this offering is established between Rs 120 and Rs 127 per share. Retail investors can apply by bidding for a minimum lot size of 110 shares, which amounts to Rs 13,970.

Xtranet Technologies IPO is entirely a fresh issue, aggregating up to Rs 170 crore. Xtranet Technologies provides integrated information technology solutions. It offers a spectrum of services such as enterprise applications, digital transformation, managed services, proprietary platforms, and strategic technology partnerships.

Lohia Corp IPO

Lohia Corp IPO will open for subscription on July 23, and the bidding window will close on July 27. The total issue size is noted to be up to 25.9 million shares, consisting entirely of an offer for sale by the promoter group. The price band for the public issue has not been announced yet.

Lohia Corp is a prominent global manufacturer of machinery and equipment dedicated to technical textiles. The company specialises particularly in the production of polypropylene and high-density polyethene woven fabric and sacks.

SBI Funds Management IPO

SBI Funds Management’s Rs 9,813 crore saw a strong response from investors, closing with an overall subscription of 41.66 times. The demand was driven by QIBs, who subscribed to their quota 140.11 times. Retail applicants and NIIs also showed strong interest, booking their portions 22.51 times and 3.76 times, respectively.

According to websites which track the demand for unlisted shares on the grey market, shares of SBI Funds Management are commanding a grey market premium (GMP) of around Rs 92. The premium signals a potential listing upside of roughly 16 per cent. Based on the upper price band of Rs 574 and the current grey market trends, the equity shares are estimated to list around Rs 666. The tentative listing date for the stock is July 21.

Alpine Texworld IPO

Alpine Texworld’s issue size was Rs 126.25 crore. The public issue was fully subscribed in the three-day bidding window as it was booked 1.40 times across categories on its final day of bidding. The retail portion was subscribed 1.54 times. Both the QIB and NII categories saw exactly 1.09 times subscription. The grey market indicates a subdued listing for the stock as the current premium has slumped to roughly Rs 2 to Rs 3 per share. This indicates a listing with marginal gains of about 2 per cent over the issue price. Based on the current GMP, the stock is likely to list at Rs 107 to Rs 108. The shares will debut on Tuesday, July 21.

SME Listings This Week

Activity remains remarkably steady in the small and medium enterprise space, with shares of two companies scheduled to make their market debuts. Shares of Millworks Technologies are set to list on the Bombay Stock Exchange SME platform on July 21. And shares of Sotefin Bharat will make their debut on the same SME platform on July 23.