February 28, 2024

Four companies from SME segment set to debut on the bourses

The equity market is going to be busy tomorrow, i.e. January 3 as four companies from the small and medium enterprise (SME) segment are set to list their shares on the bourses.

Shri Balaji Valve Components IPO

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Pune-based Shri Balaji Valve Components will be listing its equity shares on the BSE SME after closing its Rs 21.6 crore public issue last week. This was a book-built issue.

The 21.6 lakh equity shares IPO had received a robust response from investors, subscribing 276.52 times during December 27-29. High networth individuals (HNIs) were at the forefront, buying 800.07 times the allotted quota, while retail investors picked 169.95 times the portion set aside for them, and qualified institutional buyers (QIBs) bid 70.04 times the reserved portion.

With two manufacturing facilities in Pune, Shri Balaji manufactures various types of valve components which are used in the manufacturing of ball valves, butterfly valves and other valves, including forging products.

Also read: Shree Tirupati Balajee Agro Trading Company IPO: Company files draft papers; check the details here

The final issue price has been set at Rs 100 per share.

Akanksha Power & Infrastructure IPO

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Among these four companies scheduled for debut tomorrow, Akanksha Power & Infrastructure saw the second-highest IPO subscription. The Rs 27.5-crore initial public offering was booked 108.92 times during December 27-29.

HNIs took the lead among investors, picking 239.4 times the portion set aside for them. Retail investors bought 110.5 times and qualified institutional buyers (QIBs) bid 38.38 times the reserved portions.

Bipin Bihari Das Mohapatra-promoted company manufactures electric equipment, including electrical panels, instrument transformers, and vacuum contactors, through its two manufacturing plants. It is also engaged in managing electrical distribution networks for discoms.

Also read: Vraj Iron and Steel IPO: Company files DRHP for fund raising of Rs 171 crore

The stock will be listed on the NSE Emerge. The final issue price has been fixed at Rs 55 per share.

HRH Next Services IPO

Telangana-based business process outsourcing company HRH Next Services has also seen a healthy response for its Rs 9.57-crore public issue, which subscribed 62 times during December 27-29.

Retail investors have bought 63.53 times the reserved portion, while non-retail investors (high networth individuals and qualified institutional buyers) picked 60.6 times the allotted quota.

The fixed price issue comprised only a fresh issue component and the issue price is Rs 36 per share.

HRH Next Services will make its debut on the NSE Emerge.

Also read: Rays Power Infra files draft papers to go public: Check details of solar power firm’s IPO

Manoj Ceramic IPO

Manoj Ceramic will be the fourth company, listing on the BSE SME on January 2. The public issue has seen the lowest subscription among these four companies, subscribing 8.6 times during December 27-29.

Retail investors have picked 10.7 times the portion set aside for them, while high networth individuals (HNIs) bid 6.67 times the reserved portion.

This was the fixed price issue with an offer price of Rs 62 per share, comprising only a fresh issue of 23.34 lakh shares.

The Mumbai-based ceramic tiles and tiles adhesive trader raised Rs 14.47 crore through its initial public offering.

All these four companies have finalised the basis of allotment of IPO shares on January 1 and the process of transfer of equity shares to the demat accounts of successful investors who participated in the offerings is scheduled to be completed by January 2.

The year 2024 already has seen two listings so far. Sameera Agro and Infra listed flat at Rs 180 on the NSE Emerge and closed the day with a 5 percent lower circuit on January 1, followed by another 5 percent loss on January 2.

AIK Pipes and Polymers was the second listing that tool place on January 2. The stock opened 12.35 percent higher at Rs 100 and settled at Rs 105, up 18 percent on the BSE SME.