Upcoming IPOs include Exicom Tele Systems, seeking to raise Rs 429 crore; Platinum Industries, targeting Rs 235 crore; Bharat Highways Invit, aiming for Rs 2,500 crore; Owais Metal, set to raise Rs 42.69 crore; Purva Flexipack, aiming for Rs 40.21 crore; and MVK Agro Food, with a fixed issue of Rs 65.88 crore.
Below is the overview of the IPOs scheduled for this week:
- Exicom Tele Systems IPO
- Platinum Industries IPO
- Bharat Highways Invit IPO
- Owais Metal IPO
- Purva Flexipack IPO
- MVK Agro Food Product IPO
Exicom Tele Systems IPO
Exicom Tele Systems is gearing up for its IPO, scheduled to open on February 27 and close on February 29, with an aim to raise Rs 429 crore. The public offer includes Rs 329 crore in new equity and an offer for selling shares worth Rs 70.42 lakh. Priced between Rs 135-142 per share, the IPO positions Exicom’s market cap at about Rs 1,716 crore post-issue. The IPO allows bids for lots of 100 shares and in multiples. It allocates 75% to QIB, 15% to NII, and 10% to RI’s.
Platinum Industries IPO
Platinum Industries has announced that its IPO will be available for subscription from February 27 to February 29. The company aims to generate Rs 235 crore by selling 1.37 crore shares in a fresh equity issue. The shares are priced within a band of Rs 162-171 each for this offering.
Bharat Highways Invit IPO
Bharat Highways Invit, an infrastructure investment trust specializing in acquiring and managing infrastructure assets in India, has set its IPO price range at Rs 98-100 per unit. The public issue, aiming to raise Rs 2,500 crore, is scheduled to open for subscription on February 28.
Owais Metal IPO
The Owais Metal and Mineral Processing IPO, comprising an all-new issue of 49.07 lakh shares, is set to raise Rs 42.69 crores. It opens on February 26, 2024, and closes on February 28, 2024, with an expected allotment finalization date of February 29, 2024. The IPO, priced between ₹83 and ₹87 per share, will list on the NSE SME, with a tentative listing date of March 4, 2024. Retail investors can apply for a minimum of 1600 shares, amounting to ₹139,200, while for High Net-worth Individuals (HNIs), the minimum is 2 lots (3200 shares) totaling ₹278,400.
Purva Flexipack IPO
The Purv Flexipack IPO, aiming to raise Rs 40.21 crores through a fresh issue of 56.64 lakh shares, opens on February 27, 2024, and closes on February 29, 2024. Set to finalize allotments by March 1, 2024, it will list on the NSE SME on March 5, 2024. With a price band of ₹70 to ₹71 per share, the IPO requires a minimum investment of ₹113,600 for retail investors (1600 shares) and ₹227,200 for HNIs (3200 shares).
MVK Agro Food Product IPO
The M.V.K. Agro Food IPO, a fixed price issue of Rs 65.88 crores comprising 54.9 lakh shares, opens for subscription on February 29, 2024, and will close on March 4, 2024. Allotments are expected to be finalized by March 5, 2024, with a tentative listing on the NSE SME slated for March 7, 2024. Priced at ₹120 per share, the IPO has a minimum lot size of 1200 shares, requiring a minimum investment of ₹144,000 for retail investors and ₹288,000 for HNIs (2400 shares).
