The primary market will see muted action this week, as no new public issues are set to open for subscription between March 30 and April 3. However, four companies are set to make their stock market debut on the exchanges in the mainboard segment.
In the small and medium enterprise (SME) segment, three companies will see their listing, and two companies which opened their initial public offerings (IPOs) last week will be available for bidding.
IPO Listings Next Week
Here’s a complete list of key IPO listings to watch out for this week.
Central Mine Planning & Design Institute IPO
Coal India's subsidiary, the Central Mine Planning & Design Institute's (CMPDI’s) IPO was available for subscription from March 20-24. The allotment was finalised on March 25, and the shares are expected to list on the NSE and BSE on March 30. CMPDI raised Rs 1,842.12 crore, through an entirely offer-for-sale component of 107.10 million shares.
The CMPDI IPO was subscribed an overall 1.05 times its total offering. Its grey market premium (GMP) in the unofficial market stood at Rs 6, suggesting a potential listing gain of 3.50 per cent.
Amir Chand Jagdish Kumar IPO
The Rs 440 crore Amir Chand Jagdish Kumar (Exports) IPO, which was entirely a fresh issue of 20,754,716 shares, was open for subscription from March 24-27.
The allotment of shares is likely to be finalised on March 30, while the company is expected to make its stock market debut on April 2 on both the stock exchanges.
The IPO witnessed a healthy response from investors, with an overall subscription of 3.23 times the issue size.
In the grey market, the GMP for the issue stands at Rs 2.50 per share, indicating a modest listing gain of around 1.20 per cent.
Powerica IPO
The Rs 1,100 crore Powerica IPO, comprising a fresh issue of 17,721,518 shares worth Rs 700 crore and an OFS of 10,126,582 shares aggregating to Rs 400 crore, was open for subscription from March 24-27.
The allotment of shares is likely to be finalised on March 30, while the company is expected to list on the NSE and BSE on April 2.
The issue saw moderate investor interest, getting subscribed 1.45 times the total offer size.
In the grey market, the IPO commanded a premium of Rs 6 per share, indicating a potential listing gain of around 1.52 per cent.
Sai Parenteral IPO
The Rs 408.79 crore Sai Parenteral IPO, comprising a fresh issue of 7,270,408 shares worth Rs 285 crore and an OFS of 3,157,880 shares aggregating to Rs 123.79 crore, was open for subscription from March 24-27.
The allotment of shares is expected to be finalised on March 30, with the company likely to debut on the NSE and BSE on April 2. The issue saw a tepid response from investors, with an overall subscription of 1.05 times the offer size.
In the grey market, the GMP stood nil, indicating muted listing expectations.
SME Listings To Watch Next Week
In the SME segment, Speciality Medicines is scheduled to debut on March 30, followed by Tipco Engineering India on April 1 and Highness Microelectronics on April 2.
All three companies will list on the BSE SME platform.
Meanwhile, Vivid Electromech IPO and Emiac Technologies IPO, both of which opened last week, will continue to be available for bidding till March 30 and April 8, respectively.
