IPO Activity Expected to Increase This Week with Two New Listings and Three Upcoming Debut

Market Update: Two New Companies to Launch Public Issues This Week

The primary market has yet to see a significant pick-up, despite a sharp recovery in the equity markets since the announcement of the Iran ceasefire. Only two new companies are set to launch their public issues this week, starting April 13 - one each from the mainboard and SME segment.

Citius Transnet Investment Trust, the infrastructure investment trust managed by EAAA TransInfra Managers, will open its Rs 1,105 crore initial public offering (IPO) for subscription on April 17. The price band for the offer has been fixed at Rs 99-100 per unit. The public issue will remain open till April 21. Investors (other than anchor book) can bid for a minimum of 150 units and in multiples of 150 units thereafter.

Citius TransNet Investment Trust, which acquires, manages, and invests in a portfolio of transport infrastructure assets including roads, will utilise Rs 1,000 crore proceeds from the IPO for partial or full acquisition of securities of SRPL (holding company), and certain project SPVs - Thrissur Expressway, Jorabat Shillong Expressway, Dhola Infra Projects, and Dibang Infra Projects. And the remaining amount will be used for general purposes.

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

Further, the Rs 28-crore initial public offering (IPO) by Gujarat-based multi-brand mobile retail chain Mehul Telecom, in the SME segment, will also open on the same day. The company has fixed a price band for its SME public issue at Rs 96-98 per share. The IPO funds will be utilised mainly for its working capital requirements, and the remaining amount for general corporate purposes.

Meanwhile, Om Power Transmission, the power transmission infrastructure EPC company, will close its Rs 150-crore public issue on April 13 and will also make its debut on the bourses during the week on April 17. The offer was subscribed 71 percent in the last two sessions.

Property Share Investment Trust-owned Propshare Celestia's Rs 245-crore IPO will also close for subscription this week on April 16. The offer clocked 65 percent subscription on day 1, i.e., April 10.

Read also: Zepto Nears $1 Billion Quarterly Net Order Value Milestone Before IPO

In the SME segment, Safety Controls & Devices, and Emiac Technologies will be available for trading on the BSE SME effective April 13.