IPO Calendar: 2 new issues, 9 listings to keep primary market ticking next week

With no new issues launching in the mainboard category next week, the primary market gets a break. Meanwhile, the SME segment continues to grow as two businesses are scheduled to debut their public offerings.

With the intention of raising Rs 901 crore, Popular Vehicles and Services and Krystal Integrated Services launched their mainboard initial public offerings (IPOs) last week.

There will be up to nine listings on the Street, including those of Popular Vehicles and Krystal Integrated Services, in addition to the two new SME IPOs.

While the subscription for Popular Vehicles’ public offer was 1.23 at closing, the public can still bid on Krystal Integrated’s offering till March 18.

The growth of domestic capital, thriving Indian entrepreneurship, better governance, and watchful institutional investors are a few factors, according to analysts, that will probably keep the IPO market humming in 2024.

What you need know about next week’s main market activities is provided below.

Chatha Foods IPO

The subscription period for Chatha Foods’ SME IPO will begin on March 19 and end on March 21. The business intends to raise about Rs 34 crore through the public offer, which represents a full new equity offering of 59.62 lakh shares.

Investors can place a bid for 2,000 shares in a single lot and then in multiples of 2,000 after that. The IPO is priced between Rs 53 and Rs 56.

The offer is split around 50% for institutional purchasers who meet the requirements, 35% for individual investors, and 15% for non-institutional investors.

The establishment of a manufacturing plant and other general company activities will be funded by the IPO proceeds.

Serving leading QSRs, CDRs, and other HoReCa businesses including Domino’s and Subway, Café Coffee Day, Wok Express, etc., Chatha Foods is a frozen food processor.

Its products, which are sold under the “Chatha Foods” name, are supplied to 126 mid-segment and independent small QSR businesses by a network of 29 distributors that service 32 locations in India.

For the public offer, Indorient Financial Services is serving as the book running lead manager and Skyline Financial Services is serving as the registrar.

Vishwas Agri Seeds IPO

The first public offering (IPO) of Vishwas Agri Seeds in the SME sector is scheduled to begin on March 21. The offering, which ends on March 26, consists only of a new equity offering consisting of 30 lakh shares.

For its IPO, the business has set a price range of Rs 86 per share, which is expected to collect about Rs 26 crore.

In the IPO, bidders may purchase a minimum of 1,600 shares in a single lot, of which 50% are allocated to retail investors and the remaining 50% to non-institutional investors.

The company Vishwas Agri Seeds processes high-quality seeds and distributes them to farmers via a network of distributors. The business markets its seeds under the “Vishwas” brand. It began operating its own seed grading and sorting plant, warehouse, and cold storage on a commercial basis in July 2023.

Bigshare Services is the registrant and Isk Advisors is the only book running lead manager for the IPO.