Eighth New Public Offering Hits Indian Stock Market This Week
Q-Line Biotech
IPOBusy Week Ahead for Primary Market with Eight New IPOs
The primary market is set to be busy this week, starting from May 18, with eight new IPOs getting launched. Notably, all these public issues are from the SME segment, while the mainboard segment will remain quiet for the second consecutive week.
These eight companies aim to raise Rs 440 crore via initial public offerings (IPOs), with Q-Line Biotech being the largest offer amongst them. The company will be launching its IPO on May 21, with a price band of Rs 326-343 per share, and aims to raise over Rs 214 crore.
The IPOs are scheduled to launch as follows:
| Company | Date | Price Band (per share) | Amount Raised (Rs crore) |
|---|---|---|---|
| NFP Sampoorna Foods | May 18 | Rs 52-55 | 24.53 |
| Teamtech Formwork Solutions | May 19 | Rs 61-63 | 50.2 |
| Vegorama Punjabi Angithi | May 20 | Rs 73-77 | 38.38 |
| Harikanta Overseas | May 20 | Rs 91-96 | 25.6 |
On May 21, investors will have the option of participating in three IPOs - Bio Medica Laboratories, Autofurnish, and Q-Line Biotech. Bio Medica Laboratories, a pharmaceutical parenteral formulations maker, aims to mop up Rs 45.5 crore via initial share sale at a price band of Rs 132-139 per share. Autofurnish, the manufacturer and trader in automotive accessories, is a fixed price issue, raising Rs 14.6 crore via initial public offering of 35.61 lakh shares at a price of Rs 41 per share.
The last SME IPO of the current week will be M R Maniveni Foods, which will open for public subscription on May 22. The company aims to raise over Rs 27 crore via IPO of 52 lakh shares at the upper end of price band of Rs 51-52 per share.
Meanwhile, only two new companies will be getting listed on the bourses this week and both are from the SME segment. Goldline Pharmaceutical and RFBL Flexi Pack will list their shares on the BSE SME and NSE Emerge, respectively, on May 19. The Rs 11.6-crore Goldline Pharmaceutical IPO saw a massive 782 times subscription, and RFBL Flexi Pack's Rs 35.3 crore IPO was subscribed 20.4 times during May 12-14.
Read also: SMR Jewels IPO Successfully Lists with Institutional Support
Investor Takeaway
Eight new IPOs are launching this week, with Q-Line Biotech being the largest offer.
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