Upcoming IPOs: One SME public issue, five listings scheduled for next week; check full list

Following a surge in IPO activity after the general election in June, the primary market will experience a pause next week with no new issues in the mainboard segment. However, there is one SME IPO from Sahaj Solar scheduled to open on July 11.

Despite a brief pause, analysts believe that India's strong economic foundation and promising growth prospects make it an ideal time for the country's flourishing IPO market.

"India's robust economic foundation and bright growth prospects make it an excellent time for the country's thriving IPO market. We anticipate substantial investment in public markets and high demand for both new-age and conventional businesses in the near future.

During the first half, 35 companies from diverse sectors such as co-working space, furniture retailing, and online ticket booking have been able to tap the market raising almost ₹32,000 crore," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.

Lunawat further added, “A stronger H2 CY25 for the IPO market is anticipated, with increased activity, potentially larger deals, and new listings across diverse sectors. As always, thorough analysis of individual company fundamentals and future prospects remains crucial before making any investment decisions.”

Despite no new mainboard public offerings, the market will witness listings of Emcure Pharmaceuticals and Bansal Wire, both of which have garnered significant investor interest.

Here's a list of IPOs which will remain open in the upcoming week -

Sahaj Solar IPO

The Sahaj Solar IPO will open for subscription on July 11, 2024, and close on July 15, 2024. This book-built issue aims to raise ₹52.56 crores through an entirely fresh issue of 29.2 lakh shares.

The IPO price band has been set at ₹171 to ₹180 per share. Kunvarji Finstock Pvt Ltd is the book running lead manager for the Sahaj Solar IPO, and Kfin Technologies Limited is serving as the registrar for the issue.

Ambey Laboratories IPO

The Ambey Laboratories IPO opened for subscription on July 4, 2024, and will close on July 8, 2024. This IPO is a book-built issue worth ₹44.68 crores. It includes a fresh issue of 62.58 lakh shares totaling ₹42.55 crores and an offer for sale of 3.12 lakh shares amounting to ₹2.12 crores.

The price band for the IPO is set at ₹65 to ₹68 per share. Fast Track Finsec Pvt Ltd is the book running lead manager, and Link Intime India Private Ltd is the registrar for the issue. Nikunj Stock Brokers will serve as the market maker for the Ambey Laboratories IPO.

Ganesh Green Bharat IPO

The Ganesh Green Bharat IPO opened for subscription on July 5, 2024, and will close on July 9, 2024. This IPO is a book-built issue worth ₹125.23 crores, comprising an entirely fresh issue of 65.91 lakh shares.

The Ganesh Green Bharat IPO price band has been set at ₹181 to ₹190 per share. Hem Securities Limited is the book running lead manager for the IPO, with Kfin Technologies Limited serving as the registrar. Hem Finlease is the market maker for the Ganesh Green Bharat IPO.

Effwa Infra and Research IPO

Effwa Infra and Research IPO commenced subscription on July 5, 2024, and will conclude on July 9, 2024. The IPO amounts to ₹51.27 crores and is a book-built issue. It includes a fresh issue of 53.17 lakh shares, totaling ₹43.60 crores, and an offer for sale of 9.36 lakh shares, amounting to ₹7.68 crore.

The price band for the IPO is fixed at ₹78 to ₹82 per share. Shreni Shares Limited is serving as the book running lead manager, with Bigshare Services Pvt Ltd appointed as the registrar for the issue. Rikhav Securities has been appointed as the market maker for the Effwa Infra and Research IPO.

New Listings -

Emcure Pharmaceuticals IPO: The Emcure Pharma IPO allotment is scheduled to be finalized on Monday, July 8, 2024. The IPO will list on both BSE and NSE, with the tentative listing date set for Wednesday, July 10, 2024.

Bansal Wire IPO: The allocation for the Bansal Wire IPO is anticipated to be finalized on Monday, July 8, 2024. The IPO is scheduled to be listed on both the BSE and NSE, with a tentative listing date set for Wednesday, July 10, 2024.

Ambey Laboratories IPO: The allotment for the Ambey Laboratories IPO is scheduled to be completed by Tuesday, July 9, 2024. The Ambey Laboratories IPO will debut on the NSE SME platform, with a tentative listing date set for Thursday, July 11, 2024.

Ganesh Green Bharat IPO: The allotment for the Ganesh Green Bharat IPO is anticipated to be finalized on Wednesday, July 10, 2024. The IPO will be listed on NSE SME, with the tentative listing date set for Friday, July 12, 2024.

Effwa Infra and Research IPO: The allotment for the Effwa Infra and Research IPO is expected to be finalized on Wednesday, July 10, 2024. The IPO will list on NSE SME with tentative listing date fixed as Friday, July 12, 2024.