IPO Activity Picks Up: Two Public Offerings Debut, Two Listings Scheduled for This Week

Two New IPOs Set to Hit Dalal Street this Week

This week, two new public issues are scheduled to hit Dalal Street, marking the beginning of a new phase in the Indian stock market. The first IPO, Amba Auto Sales & Services, will open on April 27 with a price band of Rs 130-135 per share and close on April 29. The Bangalore-based company operates as an authorised dealer of Bajaj Auto and LG Electronics India and is raising Rs 65.12 crore via an IPO of 48.24 lakh shares at the upper price band.

The IPO comprises entirely a fresh issue component, and Amba Auto Sales will utilise the IPO proceeds for setting up new showrooms and renovating existing ones, working capital requirements, and general corporate purposes. The company's expansion plans are expected to boost its growth prospects in the coming years.

Onemi Technology Solutions to Launch Maiden Public Issue

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Onemi Technology Solutions, a fintech operating under the brand Kissht, will be the second public issue in the current week, scheduled for launch on April 30 with a price band of Rs 162-171 per share. Kissht, a technology-enabled lender offering digital loans, intends to raise nearly Rs 926 crore via its maiden public issue at the upper price band.

The IPO is a combination of fresh issuance of shares worth Rs 850 crore, and an offer-for-sale of 44.39 lakh shares worth Rs 75.9 crore by investors including Temasek's Vertex, Ventureast Proactive Fund, and Ammar Sdn Bhd. The company plans to utilise Rs 637.5 crore of the fresh issue proceeds for augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements arising out of the growth of its business; and the remaining amount for general corporate purposes.

Adisoft Technologies Closes Public Issue

Apart from new launches, industrial digital automation solutions provider Adisoft Technologies will close its Rs 74-crore public issue on April 27. The offer was subscribed 3.16 times till April 24. Its shares will also be available for trading on the NSE Emerge in the current week effective April 30.

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Citius Transnet Investment Trust to Make Debut on Bourses

In the mainboard segment, only Citius Transnet Investment Trust will make its debut on the bourses on April 29 after its IPO witnessing more than 20 times subscription last week.