Upcoming IPOs This Week: CMR Green Tech, Hexagon Nutrition, And Three SME Issues To Open In June

The primary market in India is gearing up for a revival in the first week of June. The revival follows a lack of primary market action throughout April and May. In these two months, primary market action remained subdued.

In the upcoming week, investors are set to see renewed primary market action with two mainboard initial public offerings (IPOs) opening for subscription and three public issues opening for bidding on the SME board. Here are the key details of the public issues opening this week:

Mainboard IPOs Opening For Subscription

Two new mainboard public issues are set to open for subscription in the week starting June 1:

CMR Green Technologies IPO

The bidding window for CMR Green Technologies’ public issue is scheduled to open on June 3. The bidding window is scheduled to close on June 5. The share allotment status of CMR Green Technologies will be finalised on June 8. Shares of CMR Green Technologies are set to list on both the BSE and NSE on June 10.

CMR Green Technologies is seeking to raise a total of Rs 630.88 crore via its public issue. The issue is entirely an offer for sale of up to 32.9 million equity shares from the promoters and existing shareholders; the company will not receive any proceeds from the issue.

The price band for the public issue has been fixed in the range of Rs 182 to Rs 192 per equity share. Retail investors can apply for a minimum lot size of 78 shares, which requires a minimum investment of Rs 14,976 at the upper price band.

CMR Green Tech was incorporated in 2006. The company operates as a non-ferrous metal recycler and specializes in manufacturing aluminium and zinc die casting alloys. The company operates a wide manufacturing footprint with 13 recycling units across North, West, and South India to serve automotive original equipment manufacturers and component suppliers.

Hexagon Nutrition IPO

The bidding window for Hexagon Nutrition’s public issue is set to open on June 5. The bidding window is scheduled to close on June 9. The share allotment status of Hexagon Nutrition will be finalised on June 10. Shares of Hexagon Nutrition will list on the BSE and NSE on June 12.

Hexagon Nutrition seeks to raise up to Rs 138.87 crore through its public offering. The issue is structured completely as an offer for sale comprising 30.9 million equity shares, with no fresh issue component included. The price band for the Hexagon Nutrition IPO has been fixed at Rs 42 to Rs 45 per share. Retail individual investors can bid for a minimum lot size of 333 shares, translating to a minimum required investment of Rs 14,985.

The company operates in the nutrition space and generates revenue through the sale of food fortification premixes for fast-moving consumer goods brands and business-to-consumer branded wellness products. The company manufactures and markets its clinical nutrition brands directly to medical retail channels and online platforms.

Three SME IPOs Set To Open For Bidding

The SME board is also set to see significant primary market action in the upcoming week:

Genxai Analytics IPO

The bidding window for Genxai Analytics’ public issue is set to open on June 5. The bidding window is scheduled to close on June 9. Shares of Genxai Analytics are scheduled to list on the NSE SME platform on June 12.

Genxai Analytics seeks to raise up to Rs 54.84 crore through a fresh capital issue of 4.7 million shares. The issue price band for the book-building IPO was fixed at Rs 110 to Rs 116 per share. Retail investors can apply for a minimum lot size of 2400 shares, which demands an upfront commitment of Rs 2,78,400 at the upper end of the price band.

Vahh Chemicals IPO

The bidding window for Vahh Chemicals’ public issue is scheduled to open on June 4. The bidding window is scheduled to close on June 8. Shares of Vahh Chemicals are set to list on the SME platform on June 11.

Vahh Chemicals aims to raise Rs 13.45 crore through its public market debut. The entire issue consists of a fresh issue of 2.2 million shares with no offer for sale component. The fixed price for the Vahh Chemicals IPO has been set at Rs 60 per equity share. Market lots for retail investors are structured at 2,000 shares per lot, bringing the minimum investment amount to Rs 1,20,000.

Merritronix IPO

The bidding window for the Merritronix public issue is scheduled to open on June 1. The bidding window is scheduled to close on June 3. The share allotment status of Merritronix will be finalised on June 4. Shares of Merritronix will list on the BSE SME platform on June 8.

Merritronix seeks to raise Rs 70.03 crore through a public issue that consists entirely of a fresh issue of 4.7 million equity shares. The price band for the book-building IPO has been fixed at Rs 141 to Rs 149 per share. Retail investors can bid for a minimum lot size of 2,000 shares, which requires a minimum investment of Rs 2,98,000 at the upper end of the price band.

Incorporated in October 1988, the company is an Electronics Systems Design and Manufacturing player specializing in high-reliability, mission-critical electronic assemblies.