India's primary market is set for a busy week in the SME segment, where three new IPOs are scheduled to open this week, along with a few listings. According to reports from The Economic Times, this comes as markets continue to witness sharp downswings and muted recoveries, with oil prices remaining elevated amid the seesaw political game in the Middle East. However, no mainboard IPOs are opening for subscription during the holiday-shortened week between May 25-29. The SME IPO of Yaashvi Jewellers opened for public bidding today (May 25) and will close on May 27 (Wednesday).
The SME IPO of Yaashvi Jewellers opened for public bidding today (May 25) and will close on May 27 (Wednesday). As reported by The Economic Times, the company aims to raise nearly ₹44 crore through its maiden public issue which entirely comprises a fresh issue of shares at ₹83 per share. The lot size has been fixed at 1,600 shares, and the shares are scheduled to be listed on BSE SME platform on June 2 this year. The Jaipur-headquartered jewellery maker plans to use the IPO proceeds for working capital requirements, repayment or prepayment of certain borrowings, and general corporate purposes. The IPO is a Public Issue (Fixed Portion) of ₹43.88 crores, offering 52.86 lakh shares with a minimum investment of ₹1,32,800 and total shares offered of 52,86,400. The company is engaged in manufacturing and trading of a wide range of jewellery with major product portfolio being gold jewellery in 9K, 14K, 18K, 20K, and 22K, focusing on affordability and quality.
SMR Jewels will launch its SME IPO on May 26 (Tuesday) before it closes on May 29 (Friday) to raise ₹67 crore through a fresh issue of shares worth ₹54 crore and an offer for sale (OFS) of shares worth ₹13.23 crore. According to The Economic Times, the shares of the Gujarat-based company will list on BSE SME platform on June 3. The minimum lot size for the SMR Jewels IPO is 1,000 shares at a price band of ₹128-135 per share. The company aims to use the fresh issue proceeds for the construction of a jewellery studio, repayment of borrowings, long-term working capital requirements and general corporate purposes.
Rajnandini Fashion India aims to raise over ₹18 crore from its SME IPO which will remain open from May 26 (Tuesday) and May 29 (Friday). As reported by The Economic Times, the company has set the price band at ₹59-63 per share for the IPO which will entirely comprise a fresh issue of shares. The garment-maker will use the proceeds raised from the IPO to set up a new manufacturing facility, repay some debt, and meet working capital needs.
Along with the three IPOs opening for public subscription this week, the SME IPOs of Q-Line Biotech, Autofurnish, Bio Medica Laboratories and MR Maniveni Foods which opened last week, will close for bidding during the upcoming week. This week will also see the SME listings of NFP Sampoorna Foods, Teamtech Formwork Solutions, and Vegorama Punjabi Angithi. According to The Economic Times, recommendations and opinions given by experts are their own and do not represent the views of The Economic Times.
