IPO Activity Intensifies on Dalal Street with Three Recent Listings and Two Upcoming Debuts

Maiden Public Issues Open for Subscription in Current Week

The primary market is expected to gain momentum as three maiden public issues will open for subscription in the current week starting from May 4. The mainboard segment will witness the launch of one initial public offering (IPO) from the mainboard segment this week, while the SME segment will host three IPOs.

Mainboard Segment

The mainboard segment will see the listing of Bagmane Prime Office REIT, sponsored by Bagmane Realty and Infrastructure, on May 8. The REIT is raising Rs 2,390 crore by issuing fresh units, while selling unitholders will offload units worth up to Rs 1,015 crore via an offer-for-sale. The price band for the Rs 3,405-crore REIT IPO has been fixed at Rs 95-100 per unit.

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OnEMI Technology Solutions will close its Rs 926-crore IPO on May 5 and make its market debut in the current week itself on May 8. The digital lending platform operator's initial public offering (IPO) was subscribed 24 percent on its first day of bidding, i.e., April 30.

SME Segment

In the SME segment, Value 360 Communications, the marketing and PR solutions provider, is the first to launch its Rs 42-crore IPO this week on May 4. The price band for the offer has been fixed at Rs 95-98 per share.

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Recode Studios, which sells beauty and personal care products through an omnichannel network, will be the next to open its IPO on May 5. The company is raising up to Rs 45 crore at the upper end of the price band of Rs 150-158 per share.

Bengaluru-based Amba Auto Sales & Services, which operates as an authorised dealer of Bajaj Auto and LG Electronics India, will be the only SME company listing on the NSE Emerge on May 5. The Rs 65-crore issue was managed to sail through with 1.18 times subscription last week.