Next week promises to be an exciting time for investors with as many as nine companies going public with initial public offerings (IPOs). Let’s delve into the details of upcoming IPOs next week that are poised to capture investor attention.
Premier Energies: First among mainboard IPOs next week on 27 August
Premier Energies IPO opens for subscription on 27 August 2024 and closes on 29 August 2024. IPO size is INR 2,751.74 – 2,830.4 crores, priced between INR 427 – 450 per share. The allotment for the Premier Energies IPO is expected to be finalized on Friday, 30 August 2024, and shares are scheduled to be listed on both the NSE and BSE on 3 September 2024.
Premier Energies is India’s second-largest producer of integrated solar cells and modules. The company operates five manufacturing facilities, all located on company-owned land in Hyderabad, Telangana. Collectively, these facilities boast an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules.
ECOS Mobility: 28 August
ECOS Mobility’s initial offer is expected to raise approximately INR 572.40 – 601.20 crore, the issue is priced between INR 318 – 334 per share. The IPO opens for subscription on Wednesday, 28 August 2024, and closes on Friday 30 August 2024. The company will be listed on NSE and BSE on 4 September 2024.
ECOS Mobility is the largest and most profitable provider of chauffeur-driven mobility services to corporates in India. The company specializes in offering chauffeured car rentals (CCR) and employee transportation services (ETS), catering primarily to corporate clients.
One of its peers WTi Cabs listed recently and is doing well on the bourses. This makes it an interesting IPO to watch out.
Baazar Style Retail: 30 August
Next on the list among mainboard IPOs is fashion retailer Baazar Style Retail which has a strong grip in the Eastern parts of the country. The IPO opens on 30 August for subscription and closes on 3 September 2024. Listing is expected on 6 September 2024.
The company is backed by Rekha Rakesh Jhunjhunwala and also undertook a private placement of 9,56,072 shares to Volrado Ventures Partners Fund II at an issue price of INR 387 per equity share aggregating to INR 37 crore.
Among other factors, a substantial turnaround in business operations is something investors should take a note of. From a loss in FY 2022, the company has recovered to post a profit of INR 22 crore in FY 2024. Improved performance also mean that retail investors now get 35% of the shares, up from just 10% as indicated earlier in the DRHP.
Indian Phosphate: Foremost among SME IPOs next week
Indian Phosphate is among the most exciting IPOs next week. The company is primarily engaged in the production of Linear Alkyl Benzene Sulfonic Acid LABSA 90%, an anionic surfactant used in the manufacture of all types of detergents, cakes, toilet cleaners, and liquid detergents. Single Superphosphate fertilizers are manufactured and supplied in the form of powder and granules enriched with zinc and boron as per the norms of the Fertilizer Control Ordinance of India.
Indian Phosphate’s IPO is scheduled to open on 26 August 2024 and close on 29 August 2024, the issue offers 68.04 lakh equity shares sized between INR 63.96 – 67.36 crore with issue price of INR 94 – 99 per share. The shares are expected to be listed on 03 September 2024 on NSE’s Emerge platform.
Jay Bee Laminations
Between 27 August 2024 and 29 August 2024, Jay Bee Laminations IPO aims to raise approximately INR 84.08 – 88.96 crore. Priced between INR 138 – 146 per share, the fresh issue of 45,70,000 shares sized between INR 63.07 – 66.72 crore will directly benefit the company, enhancing its financial position and growth prospects. The allotment is expected to be finalized on Friday, 30 August 2024. Jay Bee Laminations IPO will be listed on NSE SME on Tuesday, 3 September 2024.
Jay Bee Laminations manufactures and supplies a range of products such as electrical laminations, slit coils, and assembled cores made of Cold Rolled Grain Oriented (CRGO) Silicon Steel and Cold Rolled Non-Grain Oriented (CRNGO) Steel for applications in transformers, UPS, and inverters, for end-use in power industry. The company’s two manufacturing units in NOIDA are spread across a total area of 10,878 sq mt.
Vdeal System
Vdeal System IPO is set to open on Tuesday 27 August 2024 and close on 29 August 2024. The IPO’s total size is 16,14,000 shares valued at INR 18.08 crore, the issue price for the IPO is INR 112 per share with a lot size of 1,200 shares. The allotment for the Vdeal System IPO is expected to be finalized on Friday, 30 August 2024. Vdeal System IPO will be listed on NSE SME on Tuesday, 3 September 2024.
Vdeal System is ISO 9001:2015 certified and provides solutions in Smart Low Voltage (LV) panels, Smart Medium Voltage (MV) panels, Smart Variable Frequency Drive (VFD) panels, Medium Voltage (MV) Soft Starters, Energy Management Systems (EMS), and Smart Programmable Logic Controller (PLC) panels. They also offer air-insulated and sandwich bus ducts, supported by in-house product design and development, manufacturing, system integration, and servicing of automation solutions.
Paramatrix Technologies
Paramatrix Technologies offers various services like Bespoke Software Development, IT Staff Augmentation, Database Management, Business Process Outsourcing, and System Integration. Headquartered in Mumbai, the company concentrates on creating software applications and technology solutions for large enterprises and mid-size businesses on web and mobile platforms.
Paramatrix Technologies’s IPO is set for 27 August 2024 and closes on 30 August 2024, with an issue price of INR 110 per share the IPO is expected to raise INR 33.85 crore by offering 30,76,800 equity shares. The allotment for the IPO is expected to be finalized on Monday, 2 September 2024. Paramatrix Technologies IPO will list on NSE SME with a tentative listing date fixed as Wednesday, 4 September 2024.
Aeron Composite
The Reinforced Polymer Products manufacturer is expected to raise INR 54.30 – 56.10 crore by offering 44,88,000 equity shares priced between INR 121 – 125 per share for funding the capital expenditure requirements towards setting up of an additional manufacturing unit. The issue will open on 28 August 2024 and close on 30 August 2024 and is expected to be finalized on 2 September 2024 and will be listed on NSE SME with a tentative listing date fixed as Wednesday,4 September 2024.
Aeron Composite is engaged in the business of manufacturing and supplying fiberglass-reinforced polymer products like FRP Pultruded Products, and FRP Moulded Gratings. It has operations in more than 30 countries across the globe, serving over 800 customers.
Archit Nuwood
Set to open on Friday 30 August 2024, Archit Nuwood is expected to raise NR 168.48 crore by offering 62,40,000 equity shares priced between INR 257 – 270 per share, the issue allocated 35% for retail investors with a lot size of 400 shares. The allotment of IPO is expected to be finalized on Wednesday, 4 September 2024. Archit Nuwood Industries IPO is expected to get listed on BSE SME on Friday, 6 September 2024.
Archit Nuwood specializes in production of a wide range of Medium Density Fibreboard (MDF) and High Density Fibreboard (HDF) boards, as well as pre-laminated sheets in various types. Its factory, located in Tohana, is equipped with MDF and HDF plants along with short-cycle presses.
Upcoming IPOs Next Week – Conclusion
Quite clearly, this list of upcoming IPOs next week offers a range of investment opportunities across various sectors to prospective investors. Nevertheless, Careful consideration of each company’s financial performance, market positioning, and growth potential will be key to making informed investment decisions.
In addition to the above-mentioned upcoming IPOs, there will be several SEBI approvals, listings, and allotment status updates of the recently concluded offers. Investors keen on these IPOs should stay informed about the latest updates including live subscription by checking IPO Central regularly and subscribing to our notifications.
