This Week's IPO Buzz: Saraswati Saree Depot and Four SME Issues Set to Launch

by B2B Desk 2024-08-12 10:00:22

This week, Dalal Street will see a flurry of activity with five initial public offerings (IPOs) scheduled to launch, aiming to raise a combined total of Rs 257 crore. Among these, the prominent IPO of Saraswati Saree Depot Ltd will be a key highlight.

In addition, four SME IPOs, including those from Positron Energy Ltd and Sunlite Recycling Industries Ltd, are set to open for subscription in the week. Last week, the SME IPO segment had a quieter moment, with only one issue, Aesthetik Engineers Ltd, seeking to raise Rs 26.47 crore.

On the mainboard, the IPOs of FirstCry.com and Unicommerce eSolutions made their debut last week, adding to the buzz on the stock exchange.

IPO Details for This Week

Here’s a look at the IPOs opening for subscription this week:

Saraswati Saree Depot Ltd (Issue Size: Rs 160 Crore)

Saraswati Saree Depot Ltd, a wholesaler specializing in women's apparel and sarees, will launch its public offering on Monday, August 12, and it will be open for subscription until Wednesday, August 14.

The IPO will feature a fresh issue of 64,99,800 equity shares valued up to Rs 103.99 crore, alongside an Offer for Sale of 35.01 lakh shares worth up to Rs 56.01 crore. The company aims to raise a total of Rs 160.01 crore through this offering.

The price band for the IPO is set between Rs 152 and Rs 160 per share. Investors need to purchase a minimum of 90 shares, which translates to an initial investment of Rs 14,400 for retail investors.

Share allotment for the Saraswati Saree Depot IPO will be finalized on August 16, 2024. The company plans to list its shares on the BSE and NSE on August 20, 2024.

Unistone Capital Pvt Ltd is serving as the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Upcoming SME IPOs Opening This Week

This week, four SME initial public offerings (IPOs) are set to hit the market, offering a range of investment opportunities. Here’s a breakdown of what to expect:

Sunlite Recycling Industries (Issue Size: Rs 30.2 Crore)

The IPO of Sunlite Recycling Industries, which manufactures oxygen-free copper rods, will begin on August 12 on the NSE SME platform and will close on August 14. This issue involves a fresh offering of 28.8 lakh shares and aims to raise Rs 30.24 crore.

The price range for this IPO is set between Rs 100 and Rs 105 per share. Investors will need to buy a minimum of 1,200 shares, which requires an investment of Rs 1,26,000. Allotment results are expected to be announced on August 16, with shares set to list on NSE SME on August 20.

Positron Energy Ltd (Issue Size: Rs 51.2 Crore)

Positron Energy Ltd, a consultancy firm serving the oil and gas sector, will open its IPO on August 12 on the NSE SME platform. This issue will also close on August 14 and includes a fresh issue of 20.48 lakh shares, aiming to raise Rs 51.2 crore.

The price band for this IPO is between Rs 238 and Rs 250 per share. The minimum investment required is Rs 1,50,000 for a lot of 600 shares. The share allotment is expected to be finalized on August 16, with shares listed on NSE SME on August 20.

Solve Plastic Products (Issue Size: Rs 11.8 Crore)

Solve Plastic Products’ IPO will open on August 13 on the NSE SME platform and will close on August 16. The fixed price issue aims to raise Rs 11.85 crore through a fresh offering of 13.02 lakh shares.

Shares are priced at Rs 91 each, with a minimum lot size of 1,200 shares, requiring an investment of Rs 1,09,200. The share allotment is expected to be announced on August 19, and shares will list on NSE SME on August 21.

Broach Lifecare Hospital Ltd (Issue Size: Rs 4 Crore)

Broach Lifecare Hospital Ltd will launch its IPO on August 13 on the BSE SME platform, closing on August 16. The IPO involves a fresh issue of 16.08 lakh shares and seeks to raise Rs 4.02 crore.

The shares are priced at Rs 25 each, with a minimum investment of Rs 1,50,000 for a lot of 6,000 shares. The allotment is anticipated to be finalized on August 19, with shares scheduled to list on BSE SME on August 21.

Three IPOs Set to Begin Trading This Week

This week, three IPOs are set to make their debut on the stock exchanges:

FirstCry.com (Brainbees Solutions Ltd)

Brainbees Solutions Ltd, the parent company of the popular retail brand FirstCry.com, will officially list its shares on the BSE and NSE on August 13. The IPO generated substantial interest, being oversubscribed by more than 12 times.

Unicommerce eSolutions Ltd

Unicommerce eSolutions Ltd, a provider of SaaS solutions, will also start trading on the BSE and NSE on August 13. This IPO saw overwhelming demand, with subscriptions exceeding the offer by 168 times.