The first nine months of 2024 have been active in the IPO market, with companies raising over ₹61,000 crore through public offerings. This momentum continues, as several new IPOs are set to launch in the coming week, including Manba Finance, KRN Heat Exchanger, and seven SME (Small and Medium Enterprise) issues. Let’s take a closer look at these opportunities.
1. Manba Finance IPO
Manba Finance, a prominent non-banking financial company (NBFC) based in Mumbai, is opening its IPO on September 23, 2024. Known for its focus on two-wheeler financing, Manba Finance’s IPO aims to raise ₹150.84 crore. The offer includes a fresh issuance of 1.26 crore shares, priced between ₹114 and ₹120 per share. Retail investors can bid for a minimum of 125 shares, requiring an investment of around ₹15,000.
The IPO subscription closes on September 25, and share allotments will be finalized on September 26. The company is expected to list on both the BSE and NSE on September 30.
2. KRN Heat Exchanger IPO
KRN Heat Exchanger and Refrigeration Limited, a leader in the manufacturing of fin and tube-type heat exchangers used in the HVAC&R (Heating, Ventilation, Air Conditioning & Refrigeration) industry, will open its IPO on September 25. The company plans to raise ₹341.95 crore, all through fresh issuance. The subscription window will close on September 27, with a price band set between ₹209 and ₹220 per share.
Retail investors can participate with a minimum lot size of 65 shares, equating to around ₹14,300. KRN Heat Exchanger intends to use the proceeds to invest in its subsidiary, KRN HVAC Products, and set up a new manufacturing plant in Rajasthan. The IPO shares will be listed on October 3, following allotment on September 30.
3. Rappid Valves India IPO
One of the most anticipated SME IPOs, Rappid Valves India, will open for subscription on September 23 and close on September 25. The company is engaged in the manufacturing of specialized valve solutions, and through this IPO, it aims to raise ₹30.41 crore. The price band for the offer is set between ₹210 and ₹222 per share, and investors need to bid for a lot size of 600 shares.
4. WOL 3D India IPO
WOL 3D India, a key player in the 3D printing solutions market, will launch its IPO between September 23 and 25. The company aims to raise ₹25.56 crore, with a price band between ₹142 and ₹150 per share. The IPO consists of a fresh issuance of 14.52 lakh shares and an offer for sale of 2.52 lakh shares. Investors can apply with a minimum lot size of 1000 shares.
5. Thinking Hats Entertainment Solutions IPO
Scheduled to open on September 25 and close on September 27, Thinking Hats Entertainment Solutions offers a unique opportunity for investors interested in the entertainment industry. The company produces OTT content for platforms such as Netflix, Amazon, and Sony Liv, and it aims to raise ₹15.09 crore. The IPO consists of a fresh issue of 34.29 lakh shares, with a price band of ₹42 to ₹44 per share. The listing is expected on October 3.
6. Unilex Colours and Chemicals IPO
Unilex Colours and Chemicals is a manufacturer of pigments and food colors, and its IPO will open on September 25 and close on September 27. The company aims to raise ₹31.32 crore, with a price band set between ₹82 and ₹87 per share. The minimum lot size for this IPO is 1600 shares.
7. TechEra Engineering IPO
TechEra Engineering, a company specializing in manufacturing precise tooling for the aerospace and defense industries, will launch its IPO on September 25. The company plans to raise ₹35.9 crore, with a price band between ₹75 and ₹82 per share. The funds will be used to purchase new machinery and meet working capital requirements.
8. Sahasra Electronics Solutions IPO
Sahasra Electronics Solutions will open its IPO subscription window from September 26 to September 30. The company, which offers electronic system design solutions, aims to raise ₹186.16 crore. The price band is set between ₹269 and ₹283, with a minimum lot size of 400 shares. The tentative listing date is October 4.
9. Divyadhan Recycling Industries IPO
Divyadhan Recycling Industries will open its IPO on September 26 and close on September 30. The company plans to raise capital through the issuance of 37.76 lakh fresh shares. The price band and lot size are yet to be announced, and the listing date is expected shortly after.
Key Listings Next Week
Alongside the upcoming IPOs, 14 companies are set to make their market debuts. These include Western Carriers India, Northern Arc Capital, and Arkade Developers, among others. On the SME front, companies like Deccan Transcon, Pelatro, and Osel Devices will be listed on the NSE SME platform, marking another milestone for small-cap stocks.
Conclusion
The upcoming week is packed with opportunities for investors, from established players like Manba Finance and KRN Heat Exchanger to promising SMEs. As these companies hit the market, investors should keep a close eye on subscription windows, price bands, and the respective listing dates to make informed decisions.
Investing in IPOs offers the potential for growth, but it’s essential to assess the risk, company fundamentals, and market conditions before committing funds.
