Two IPOs to Debut as Mainboard Segment Experiences Quiet Period
Goldline Pharmaceutical
IPOIPO Activity Lags in Primary Market Amid Geopolitical Volatility
The primary market has yet to see a significant pickup in the number of initial public offerings (IPOs), which may be partly attributed to the consistent volatility and range-bound trading in the equity markets, influenced by ongoing geopolitical developments.
In the current week, commencing May 11, only two small and medium-sized enterprises (SMEs) public issues are scheduled to hit Dalal Street, with the mainboard segment remaining relatively quiet.
Goldline Pharmaceutical and RFBL Flexi Pack will open their maiden public issues for subscription on May 12. Goldline Pharmaceutical, a pharma products marketing company, aims to raise Rs 11.61 crore via an IPO of 27 lakh shares, priced between Rs 41-43 per share. Meanwhile, RFBL Flexi Pack, a manufacturer and trader of printed multilayer flexible packaging materials, will fetch Rs 35.33 crore from the sale of 70.65 lakh shares, priced between Rs 47-50 per share. Both public issues will remain open for subscription till May 14.
In other IPO news, Simca Advertising, which provides advertising services with a focus on Out-of-Home media in Maharashtra, will close its Rs 58-crore IPO on May 12, having seen a 61 percent subscription on the first day of bidding, which commenced on May 8.
On the listing front, Value 360 Communications will be the first company available for trading this week on May 11, followed by Recode Studios, which is scheduled for its market debut on May 12. Simca Advertising will be the last company to list shares from the SME segment this week on May 15.
However, there will be no new IPO launch in the mainboard segment. Bagmane Prime Office REIT, the commercial office real estate investment trust focusing on owning and managing premium Grade A+ business parks in Bengaluru, will be available for trading on the bourses on May 15.
The Rs 3,405-crore Bagmane REIT IPO saw a massive 23.71 times subscription during May 5-7.
| IPO | Subscription Period | Subscription Status |
|---|---|---|
| Simca Advertising | May 8-12 | 61% |
| Bagmane Prime Office REIT | May 5-7 | 23.71 times |
Investor Takeaway
Two IPOs, Goldline Pharmaceutical and RFBL Flexi Pack, will debut on the mainboard segment in the current week.
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