IPO Update - JNK India and Three SMEs Kick Off Financial Year with Big Debuts!IPO Update - JNK India and Three SMEs Kick Off Financial Year with Big Debuts!

This week, the IPO market resumes with four new offerings, including JNK India’s mainboard IPO aiming to raise ₹649 crore and three SME issues. Starting FY25 slowly, market optimism remains high for these initial public offerings after a brief intermission.

Here’s a list of IPOs which will open for subscription next week:

JNK India IPO

The JNK India IPO is set to open on April 23, 2024, and will close on April 25, 2024. This book-built issue aims to gather ₹649.47 crores, combining a fresh issue of shares worth ₹300 crores and an offer for sale worth ₹349.47 crores. The shares are priced between ₹395 and ₹415 each. IIFL Securities Ltd and ICICI Securities Limited are managing the IPO, with Link Intime India Pvt Ltd as the registrar.

Varyaa Creations IPO

The Varyaa Creations SME IPO, managed by Inventure Merchant Banker Services Pvt Ltd with Bigshare Services Pvt Ltd as the registrar, is set to open on April 22, 2024, and will close on April 25, 2024. This fixed price issue aims to raise ₹20.10 crores by offering 13.4 lakh shares at ₹150 each. Svcm Securities will act as the market maker for this IPO.

Emmforce Autotech IPO

Opening on April 23, 2024, the Emmforce Autotech SME IPO aims to raise ₹53.90 crores through a book-built issue of 55 lakh shares priced between ₹93 and ₹98. Beeline Capital Advisors Pvt Ltd manages the IPO, Link Intime India Pvt Ltd is the registrar, and Spread X Securities acts as the market maker, closing subscriptions on April 25, 2024.

Shivam Chemicals IPO

Set to open on April 23, 2024, and close on April 25, 2024, the Shivam Chemicals SME IPO will offer 45.87 lakh shares as a fresh issue, aiming to raise ₹20.18 crores at a fixed price of ₹44 per share. Aryaman Financial Services Limited is managing the IPO as the book running lead manager, with Cameo Corporate Services Limited handling registry duties. Shreni Shares will serve as the market maker for this offering.