IPOs next week: 2 issues to remain open, 7 new SME companies to make stock market debut

The primary market will take a breather after witnessing a bustling month of December with no new issues to open in the coming week. Around seven new SME companies will make their stock debut on the exchanges in the coming week Two SME issues, Kay Cee Energy & Infra Ltd and Kaushalya Logistics Ltd, which opened last week, will remain open for bidding.

Last week, half a dozen companies got listed in the Indian equity market. Muthoot Microfin, Suraj Real Estate Developers, Motisons Jewellers, Credo Brands, Happy Forgings, RBZ Jewellers, Azad Engineering together, these companies have raised 3,910 crore and have garnered subscriptions between 12 and 173 times.

2023 has been the year of initial public offerings (IPOs), with 173 small and medium sized enterprises (SMEs) and 52 mainboard listings to date, along with some outstanding debuts and subscriptions from both. “I believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth, the India manufacturing story, and the feeling that the current ruling dispensation will return to power based on the recent state elections’ performance," said Venkatraghavan S., Managing Director, Investment Banking, at Equirus.

Kay Cee Energy & Infra IPO bidding opened for subscription on December 28, 2023 and will close on January 2, 2024. It is a book built issue of 15.93 crores and is entirely a fresh issue of 29.5 lakh shares. The company has set the price band at 51 to 54 per share, with a face value of 10 per share.

The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024. 2. Kaushalya Logistics Ltd Kaushalya Logistics IPO bidding opened for subscription on December 29, 2023 and will close on January 3, 2024. It is a book built issue of 36.60 crores and a combination of fresh issue of 33.8 lakh shares aggregating to 25.35 crores and offer for sale of 15 lakh shares aggregating to 11.25 crores.

The company has set the price band at 71 to 75 per share, with a face value of 10 per share. The allotment for the issue is expected to be finalized on Thursday, January 4, 2024 with tentative listing date fixed as Monday, January 8, 2024. Livemint tops charts as the fastest growing news website in the world to know more.

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