IPO Frenzy Next Week: 8 SME Public Issues To Go Live; 8 New Listing On The Table; Check Names & Dates

The coming week might seem uneventful for those keeping an eye on the mainboard IPO market, as no new issues are scheduled to open. However, the SME segment is bustling with activity, with eight companies gearing up to launch their initial public offerings (IPOs). This article delves into the details of these upcoming SME IPOs, their financial specifics, and the context of the current market scenario.

While the mainboard IPO market will experience a quiet spell next week with no new issues scheduled to open, the SME segment is buzzing with activity. Eight companies are gearing up to launch their initial public offerings (IPOs). Below is a comprehensive list of the IPOs set to open for subscription in the SME segment next week, along with key details that investors should be aware of.

RNFI Services IPO
Subscription Dates: July 22, 2024, to July 24, 2024
Issue Size: Rs 70.81 crores
Shares Offered: 67.44 lakh (fresh issue)
Price Band: Rs 98 to Rs 105 per share
Lead Manager: Choice Capital Advisors Pvt Ltd
Registrar: Skyline Financial Services Private Ltd
Market Maker: Choice Equity Broking

RNFI Services is set to raise Rs 70.81 crores through its IPO, offering 67.44 lakh fresh shares. The price band is between Rs 98 and Rs 105 per share. Choice Capital Advisors Pvt Ltd will manage the issue, with Skyline Financial Services Private Ltd acting as the registrar and Choice Equity Broking as the market maker.

SAR Televenture FPO
Subscription Dates: July 22, 2024, to July 24, 2024
Issue Size: Rs 150 crores
Shares Offered: 71.43 lakh (fresh issue)
Price Band: Rs 200 to Rs 210 per share
Lead Manager: Pantomath Capital Advisors Pvt Ltd
Registrar: Link Intime India Private Ltd

SAR Televenture aims to raise Rs 150 crores through a fresh issue of 71.43 lakh shares priced between Rs 200 and Rs 210 per share. Pantomath Capital Advisors Pvt Ltd is the lead manager for the issue, and Link Intime India Private Ltd is the registrar.

VVIP Infratech IPO
Subscription Dates: July 23, 2024, to July 25, 2024
Issue Size: Rs 61.21 crores
Shares Offered: 65.82 lakh (fresh issue)
Price Band: Rs 91 to Rs 93 per share
Lead Manager: Share India Capital Services Private Limited
Registrar: Maashitla Securities Private Limited
Market Maker: Share India Securities

VVIP Infratech will open its IPO for subscription, targeting Rs 61.21 crores through a fresh issue of 65.82 lakh shares. The price band is set between Rs 91 and Rs 93 per share. Share India Capital Services Private Limited is the lead manager, with Maashitla Securities Private Limited serving as the registrar and Share India Securities as the market maker.

V.L. Infraprojects IPO
Subscription Dates: July 23, 2024, to July 25, 2024
Issue Size: Rs 18.52 crores
Shares Offered: 44.1 lakh (fresh issue)
Price Band: Rs 39 to Rs 42 per share
Lead Manager: Beeline Capital Advisors Pvt Ltd
Registrar: Skyline Financial Services Private Ltd
Market Maker: Spread X Securities

V.L. Infraprojects plans to raise Rs 18.52 crores through its IPO, issuing 44.1 lakh fresh shares. The price band is between Rs 39 and Rs 42 per share. Beeline Capital Advisors Pvt Ltd is the lead manager, Skyline Financial Services Private Ltd is the registrar, and Spread X Securities is the market maker.

Manglam Infra and Engineering IPO
Subscription Dates: July 24, 2024, to July 26, 2024
Issue Size: Rs 27.62 crores
Shares Offered: 49.32 lakh (fresh issue)
Price Band: Rs 53 to Rs 56 per share
Lead Manager: Unistone Capital Pvt Ltd
Registrar: Bigshare Services Pvt Ltd
Market Maker: Giriraj Stock Broking

Manglam Infra and Engineering will open its IPO, aiming to raise Rs 27.62 crores through a fresh issue of 49.32 lakh shares. The price band is set between Rs 53 and Rs 56 per share. Unistone Capital Pvt Ltd is the lead manager, Bigshare Services Pvt Ltd is the registrar, and Giriraj Stock Broking is the market maker.

Chetana Education IPO
Subscription Dates: July 24, 2024, to July 26, 2024
Issue Size: Rs 45.90 crores
Shares Offered: 54 lakh (fresh issue)
Price Band: Rs 80 to Rs 85 per share
Lead Manager: Hem Securities Limited
Registrar: Link Intime India Private Ltd
Market Maker: Hem Finlease

Chetana Education plans to raise Rs 45.90 crores through its IPO, offering 54 lakh fresh shares with a price band between Rs 80 and Rs 85 per share. Hem Securities Limited is the lead manager, Link Intime India Private Ltd is the registrar, and Hem Finlease is the market maker.

Aprameya Engineering IPO
Subscription Dates: July 25, 2024, to July 29, 2024
Issue Size: Rs 29.23 crores
Shares Offered: 50.4 lakh (fresh issue)
Price Band: Rs 56 to Rs 58 per share
Lead Manager: Hem Securities Limited
Registrar: Link Intime India Private Ltd

Aprameya Engineering will launch its IPO, seeking to raise Rs 29.23 crores through a fresh issue of 50.4 lakh shares. The price band is set between Rs 56 and Rs 58 per share. Hem Securities Limited is the lead manager, and Link Intime India Private Ltd will act as the registrar.

Clinitech Laboratory IPO
Subscription Dates: July 25, 2024, to July 29, 2024
Issue Size: Rs 5.78 crores
Shares Offered: 6.02 lakh (fresh issue)
Issue Price: Rs 96 per share
Lead Manager: Inventure Merchant Banker Services Pvt Ltd
Registrar: Bigshare Services Pvt Ltd
Market Maker: Svcm Securities

Clinitech Laboratory is set to open its fixed-price IPO, targeting Rs 5.78 crores through a fresh issue of 6.02 lakh shares priced at Rs 96 per share. Inventure Merchant Banker Services Pvt Ltd is the lead manager, Bigshare Services Pvt Ltd is the registrar, and Svcm Securities is the market maker.

Sanstar IPO
Subscription Dates: July 19, 2024, to July 23, 2024
Issue Size: Rs 510.15 crores
Shares Offered: 4.18 crore (fresh issue) and 1.19 crore (offer for sale)
Price Band: Rs 90 to Rs 95 per share
Lead Manager: Pantomath Capital Advisors Pvt Ltd
Registrar: Link Intime India Private Ltd

The Sanstar IPO, which opened for subscription on July 19, 2024, and will close on July 23, 2024, aims to raise Rs 510.15 crores. This includes a fresh issue of 4.18 crore shares totalling Rs 397.10 crores and an offer for sale of 1.19 crore shares amounting to Rs 113.05 crores. The price band is set between Rs 90 and Rs 95 per share. Pantomath Capital Advisors Pvt Ltd is the lead manager, and Link Intime India Private Ltd is the registrar.

While the mainboard IPO market is taking a brief pause, the SME sector's IPOs provide a significant opportunity for investors seeking growth in smaller, burgeoning companies. These SME IPOs are crucial for businesses looking to scale operations, enhance their market presence, and fund new projects. The diversity of industries represented-ranging from engineering and infrastructure to education and laboratory services-highlights the broad spectrum of growth potential within the SME segment.

Investors should consider several factors before subscribing to these IPOs. The price band, lead managers, and market makers play a pivotal role in shaping the success and stability of these offerings. With the assistance of experienced lead managers like Choice Capital Advisors and Pantomath Capital Advisors, these companies aim to secure the necessary capital while providing a lucrative opportunity for investors.

The current market sentiment towards SME IPOs is relatively positive, driven by the recent performance of listed SME stocks. However, investors should conduct thorough due diligence, considering the specific financial health, business model, and growth prospects of each company.

For instance, RNFI Services, with a sizeable issue of Rs 70.81 crores, presents a robust opportunity in the financial services sector. Similarly, SAR Televenture's FPO, with an even larger issue size of Rs 150 crore, indicates a strong demand and potential for significant returns in the telecommunications domain.

The pricing strategies, ranging from Rs 39 - Rs 210 per share, offer various entry points for investors with different risk appetites and investment strategies. Lower-priced issues like V.L. Infraprojects and Manglam Infra provide more affordable options, while higher-priced issues like SAR Televenture and RNFI Services cater to those looking for substantial investment opportunities.

New Listings and Allotments
In addition to the new SME IPOs, several companies are preparing for their market debut following successful allotments. These include:

Sanstar IPO: The allotment is expected to be finalized on July 24, 2024, with a tentative listing date of July 26, 2024.
Three M Paper Boards IPO: Scheduled to list on BSE SME on July 22, 2024.
Prizor Viztech IPO: Set to list on NSE SME on July 22, 2024.
Sati Poly Plast IPO: Listing on NSE SME on July 22, 2024.
Aelea Commodities IPO: Listing on BSE SME on July 22, 2024.
Tunwal E-Motors IPO: Tentative listing on NSE SME on July 23, 2024.
Macobs Technologies IPO: Expected to list on NSE SME on July 24, 2024.
Kataria Industries IPO: Tentative listing on NSE SME on July 24, 2024.

While the mainboard IPO market remains quiet, the SME IPO segment offers investment opportunities. With eight new issues opening for subscription next week, investors have a wide array of choices across various industries. Each IPO brings its own set of potential rewards and risks, requiring careful analysis and strategic decision-making.