Summary of this article
Shadowfax Technologies will debut on the stock exchanges on January 28 following a subscription of 2.72 times.
Five SME IPOs, including Msafe Equipments and CKK Retail Mart, will open for bidding between January 27 and January 30.
Total fundraising from these five SME issues is expected to exceed Rs 225 crore to support various corporate growth objectives.
The primary market activity is set to remain strong in the coming week despite it being a truncated trading week. The stock market will remain closed on January 26 on account of Republic Day celebrations.
While there will be just one mainboard listing this week, the small and medium enterprise (SME) board is set to witness several public issues opening for subscription. Ahead of the beginning of the new week, here’s a look at some of the key details of the public issues opening in the coming week:
Shadowfax Technologies Listing
Shadowfax Technologies’ initial public offering (IPO) opened for subscription on January 20 and closed on January 22. The basis of allotment of Shadowfax Technologies IPO was decided on January 23 and the shares will list on the NSE and BSE on January 28.
Shadowfax Technologies IPO has been subscribed 2.72 times, receiving bids for 242.38 million shares across categories compared to the 89.08 million shares set aside for subscription. Employees of the company booked their quota 2.07 times, retail individual investors booked their quota 2.31 times and non-institutional investors (NIIs) booked their quota 84 per cent. Qualified institutional buyers (QIBs) booked their quota 3.81 times.
Shadowfax Technologies is engaged in providing logistics solutions to various e-commerce companies and retail customers. The services provided by the company include express parcel delivery and other value-added offerings.
Five SME Issues Set To Open For Bidding
As many as five SME issues are set to open for subscription in the coming week. Here’s a look at the details of the public issues:
Kasturi Metal Composite IPO
The bidding window for Kasturi Metal Composite’s public issue is set to open on January 27 and close on January 29. Shares of Kasturi Metal Composite will list on the BSE SME platform on February 3. Kasturi Metal Composite seeks to raise Rs 17.61 crore through a fresh issue of 2.80 million shares. Kasturi Metal Composite IPO price band was fixed at Rs 61-64 per share.
Kanishk Aluminium India IPO
The bidding window for Kanishk Aluminium India IPO is scheduled to open on January 28 and close on January 30 and the shares are set to list on the BSE SME Platform on February 4. Kasturi Metal Composite seeks to raise Rs 29.20 crore through a fresh issue of four million shares. Kasturi Metal Composite IPO price has been fixed at Rs 73 per share.
Msafe Equipments IPO
The bidding window for Msafe Equipments’ public issue is set to open on January 28 and close on January 30. Shares of Msafe Equipments will list on the BSE SME platform on February 4. Msafe Equipments seeks to raise Rs 66.42 crore through a fresh issue of 4.40 million shares aggregating to Rs 54.12 crore and an offer-for-sale (OFS) of 1 million shares amounting to Rs 12.30 crore. The price band for Msafe Equipments’ IPO was fixed at Rs 116-123 per share.
Accretion Nutraveda IPO
The bidding window for the Accretion Nutraveda SMC public issue is set to remain open from January 28-30. Shares of Accretion Nutraveda will list on the BSE SME platform on February 4. Accretion Nutraveda seeks to raise Rs 24.77 crore through a fresh issue of 1.90 million shares. Accretion Nutraveda IPO price band was fixed at Rs 122-129 per share.
CKK Retail Mart IPO
The bidding window for CKK Retail Mart public issue is scheduled to open on January 30 and close on February 3. Shares of CKK Retail Mart are set to list on the NSE SME Emerge Platform on February 6. CKK Retail Mart seeks to raise Rs 88.02 crore through a fresh issue of 4.40 million shares amounting to Rs 71.85 crore and an OFS of one million shares aggregating to Rs 16.17 crore. CKK Retail Mart IPO price band was fixed at Rs 155-163 per share.
