The primary market is going to be crowded this week as three new companies are all set to hit Dalal Street in the next three days. Around seven IPOs have been launched in the main board segment and around 65 public issues have been reported in the SME segment in this calendar year so far.
Some media reports suggest that fund raising in the main board segment is always bigger than SMEs. Remaining days of this week, including today, will witness three new IPOs to hit the market.
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Cosmic CRF
It is a cold-rolled stainless section supplier and will be the first SME IPO this week to open for subscription on June 14. The issue price would be kept between Rs 314-330 per share.
The last day to subscribe will be June 16. The company is planning to raise around Rs 60 crore via a public issue of 18.22 lakh equity shares. Cosmic CRF will utilize the funds for expansion of existing manufacturing units, working capital requirements, and repaying debts, besides general corporate purposes.
Titagarh Wagons Limited, Hindusthan Engineering & Industries, Melbrow Engineering Works, Jindal Rail Infrastructure are some of its clients. It will list its equity shares in the BSE SME segment on June 26.
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Cell Point (India)
It will be the second IPO to be open for bidding this week. It is a fixed price issue and will launch its initial public offering on June 15 and will close on June 20, with a share price of Rs 100 per share.
The mobile store company will raise about Rs 50 crore, which will be used for repaying debts, and working capital requirements. It also plans to repair and renovate existing retail outlets and set up new retail outlets, besides general corporate expenses and issue expenses.
The company engages in retail selling of some of the consumer durable electronics goods like smart televisions of various brands such as Xiaomi, Realme and One Plus.
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Vilin Bio Med
Pharmaceutical product manufacturer company will also be coming up with its IPO on June 16 and will close on June 21. It is also a fixed price issue with a share price of Rs 30 per share.
The company plans to mobilise Rs 12 crore via public issue of 40 lakh shares. The majority of the funds will be utilized for additional working capital requirements, and general corporate purposes.
Both Cell Point and Vilin BioMed will debut on the NSE SME Emerge on June 29 and June 30, respectively.