IPO Activity Resumes: Five Public Offerings Open on Mainboard Segment This Week

Market Activity Resumes as Five IPOs Open for Subscription

The primary market is back in full swing this week, starting from June 1, with a total of five IPOs set to open for public subscription. This marks the end of a three-week lull in the mainboard segment, with activity resuming in earnest.

A total of Rs 900 crore is expected to be raised by these five companies, with Rs 770 crore coming from the mainboard segment. The first IPO to open is CMR Green Technologies, which will begin accepting subscriptions on June 3. The non-ferrous metal recycler is raising Rs 631 crore through an initial public offering (IPO) of 3.28 crore equity shares, which is entirely an offer-for-sale.

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The price band for the CMR Green Technologies IPO has been fixed at Rs 182-192 per share. This is followed by Hexagon Nutrition, a research-driven nutrition company, which aims to mobilise nearly Rs 139 crore via a public issue of 3.08 crore shares at the upper end of the price band of Rs 42-45 per share. This is also entirely an offer-for-sale by promoters, opening for subscription on June 5.

The remaining three IPOs are from the SME segment, raising Rs 138.32 crore. Merritronix, an electronics systems design and manufacturing company, has opened its Rs 70-crore initial public offering for subscription on Monday, with a price band of Rs 141-149 per share.

Vahh Chemicals, a fixed price issue, will be the next IPO to open, on June 4. The textile auxiliary chemicals maker targets to raise Rs 13.45 crore via its maiden public issue of 22.42 lakh shares at Rs 60 per share. Genxai Analytics, an enterprise performance and analytics solutions provider, will be the last public issue amongst them. The company plans to mobilise Rs 54.8 crore via its IPO of 47.28 lakh shares at the upper end of the price band of Rs 110-116 per share.

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Meanwhile, Aureate Tradde, an industrial and technological materials supplier, will close its Rs 27-crore SME IPO on June 2, while SMR Jewels has extended the closing date for its Rs 64-crore public issue till June 3. The former offer has been subscribed 15 percent so far, while the latter has been subscribed 42 percent.

On the listing front, M R Maniveni Foods is the first company to make its debut on the BSE SME platform on June 1, followed by Yaashvi Jewellers on June 2, and Rajnandini Fashion India on June 3.