Garuda Construction is set to launch its public offering in the mainboard segment, while Shiv Texchem is preparing for its entry into the SME market.
After a busy stretch in the primary market, the upcoming week offers some relief, with only two new initial public offerings (IPOs) slated to open for subscription.
Among these, Garuda Construction will debut on the mainboard, while Shiv Texchem will enter the SME segment.
“We had predicted this trend at the beginning of the year. We forecasted over ₹1.5 lakh crores of capital raised through IPOs in 2024. As more growth-stage companies go public, we also expect a rise in multi-national companies seeking to tap into the Indian capital market. Additionally, market liquidity indicators, especially mutual fund inflows, have nearly doubled in the last quarter, nearing ₹40,000 crore per month, fueling significant market buoyancy,” explained Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt Ltd.
Here’s a look at the IPOs that will be open for subscription next week:
1. Garuda Construction and Engineering IPO
The Garuda Construction IPO will be available for subscription from October 8 to October 10. It’s a book-built issue totaling ₹264.10 crore, which includes a fresh issue of 1.83 crore shares worth ₹173.85 crore and an offer for sale of 0.95 crore shares amounting to ₹90.25 crore.
The price band is set between ₹92 and ₹95 per share. Corpwis Advisors Private Limited is acting as the lead manager, while Link Intime India Private Ltd will serve as the registrar.
2. Shiv Texchem IPO
The Shiv Texchem IPO will also be open from October 8 to October 10. This ₹101.35 crore book-built issue consists entirely of a fresh issue of 61.06 lakh shares.
The price band for this IPO is set between ₹158 and ₹166 per share. Vivro Financial Services Private Limited is the lead manager, with Link Intime India as the registrar and Rikhav Securities as the market maker.
3. Khyati Global Ventures IPO
The Khyati Global Ventures IPO, which opened on October 4, 2024, will close on October 8. This is a fixed-price offering of ₹18.30 crore, with a fresh issue of 10.48 lakh shares worth ₹10.38 crore and an offer for sale of 8 lakh shares totaling ₹7.92 crore.
Priced at ₹99 per share, Aryaman Financial Services Limited is the lead manager, with Bigshare Services Pvt Ltd as the registrar and Aryaman Capital Markets as the market maker.
Upcoming Listings:
HVAX Technologies IPO: Listing on NSE SME on October 7, after allotment completion on October 3.
Saj Hotels IPO: Also set for listing on NSE SME on October 7, following the October 3 allotment.
Subam Papers IPO: Scheduled to list on BSE SME on October 8, after allotment completion on October 4.
Paramount Dye Tec IPO: Listing on NSE SME on October 8, with allotment completed on October 4.
NeoPolitan Pizza and Foods IPO: Expected to list on BSE SME on October 9, with allotment completion slated for October 7.
Khyati Global Ventures IPO: Tentatively set to list on BSE SME on October 11, with allotment scheduled for October 9.
