Mood upbeat with 3 IPO launches, 2 listings next week

The three IPOs launching next week will be worth Rs 665 crore including two from mainboard segment.

The mood at primary market remained strong despite subdued equity markets, as there will be three IPO launches and two listings in the coming week. The Nifty50 lost around 3.4 percent from its record high of 19,992 on July 20.

The three IPOs launching next week will be worth Rs 665 crore, including two from the mainboard segment.

Flexible flow solution products maker Aeroflex Industries will open its IPO on August 22, with a price band of Rs 102-108 per share.

The Mumbai-based stainless steel flexible hose manufacturer is planning to raise Rs 351 crore via public issue, which comprises a fresh issuance of shares worth Rs 162 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter Sat Industries.

The funds raised via fresh issue portion will be utilised for repaying debts, fund working capital requirements and general corporate purposes. The offer will close on August 24.

The second IPO will be from the infrastructure company Vishnu Prakash R Punglia. The Rajasthan-based EPC company will be opening its offer for subscription on August 24, with a price band of Rs 94-99 per share.

The offer comprises only a fresh issue of 3.12 crore equity shares and the fund raising would be Rs 309 crore, which the company will utilise mainly for capital expenditure requirements for purchase of equipment/machinery amounting to Rs 62.18 crore, and working capital requirements of Rs 150 crore, besides general corporate purposes.

The third IPO will be in the SME segment. Power solutions company Sungarner Energies will open its IPO for subscription during April 21-23, with offer price of Rs 83 per share. It is a fixed price issue.

The company intends to raise Rs 5.31 crore via public issue of 6.4 lakh equity shares. The funds, excluding issue expenses, will be used for working capital requirements and general corporate purposes.

Meanwhile, polymer-based molded products maker Pyramid Technoplast will be closing its Rs 153-crore IPO on August 22. The public issue was subscribed 1.61 times on its debut, April18.

In the SME segment, Shoora Designs will close its initial public offering on August 21, which so far has been subscribed over 10 times.

The final day for Crop Life Science, and Bondada Engineering public issues will be on August 22, which have so far booked around 80 percent and 70 percent respectively.

On the listing front, TVS Supply Chain Solutions, the part of TVS Mobility Group, will debut on the BSE and NSE on August 23, while herbal products maker Shelter Pharma will also list its shares on the BSE SME on same day, as per IPO schedule. Both were getting muted response in the grey market, ahead of their listing, analysts said on anonymity. The grey market is an unofficial market for trading in IPO shares till the listing.