Upcoming IPOs: Saraswati Saree Depot and Four SMEs to Debut on Dalal Street
The coming week in the Indian financial markets promises to be a bustling one, despite ongoing volatility and consolidation in the secondary market. Investors and market watchers are gearing up for a busy schedule in the primary market, as five initial public offerings (IPOs) are set to open, including three companies making their debut on the bourses.
Market Overview
Last week saw a downward trend in the benchmark indices, with the Nifty 50 declining by 1.4%, and the broader Nifty Midcap 100 index also falling by 1.3%. This correction reflects the ongoing pressures and uncertainties in the market, yet the interest in new market entrants remains high.
IPOs on the Horizon
1. Saraswati Saree Depot
The highlight of the mainboard segment next week is the Saraswati Saree Depot IPO, scheduled to open on August 12. The price band is set at Rs 152-160 per share, aiming to raise Rs 160.02 crore. This comprises a fresh issue of shares worth Rs 104 crore and an offer-for-sale (OFS) of 35.01 lakh shares, which could fetch Rs 56.02 crore at the upper price band. The funds from the fresh issue are earmarked for enhancing working capital and for general corporate purposes. The IPO will conclude on August 14.
2. Positron Energy
Shifting to the SME segment, Positron Energy’s IPO also launches on August 12, with a target to raise Rs 51.21 crore. The price band for this book-built issue is set between Rs 238 and Rs 250 per share. Specializing in management and technical advisory services for the oil and gas sector, the company’s issue will close on August 14.
3. Sunlite Recycling Industries
Another SME player, Sunlite Recycling Industries, is set to enter the market on August 12. The company is looking to raise Rs 30.24 crore with its IPO priced between Rs 100 and Rs 105 per share. This Gujarat-based manufacturer of copper rods, wires, and conductors will wrap up its public offering on August 14.
4. Broach Lifecare Hospital
Opening on August 13, Broach Lifecare Hospital plans to raise Rs 4.02 crore through its IPO, priced at Rs 25 per share. The Gujarat-based company operates boutique hospitals under the Maple Hospitals brand, and the offering will close on August 16.
5. Solve Plastic Products
Also opening on August 13 is Solve Plastic Products, which aims to raise Rs 11.85 crore. This fixed-price issue, closing on August 16, sets the price at Rs 91 per share. The company manufactures UPVC pipes and rigid PVC electrical conduits.
Exciting Listings
The upcoming week will also see the listing of several companies:
Brainbees Solutions, the operator behind FirstCry, and Unicommerce Esolutions are set to debut on the BSE and NSE on August 13. Brainbees Solutions has an issue price of Rs 465 per share, while Unicommerce Esolutions is priced at Rs 108 per share. Subscription data shows a robust interest, with FirstCry’s IPO subscribed 12.22 times and Unicommerce’s offering drawing a subscription of 168.39 times. Grey market premiums suggest a strong debut, particularly for Unicommerce, which is seen trading at over 50% above its issue price.
Aesthetik Engineers, another SME, will be the sole stock listing next week on NSE Emerge on August 16. The company closes its Rs 26.47-crore public issue on August 12.
Conclusion
Despite the ongoing market corrections, the upcoming week is set to be dynamic for the primary market. The diversity of companies entering the market—from traditional sectors like apparel and healthcare to modern industries like recycling and technical advisory services—illustrates the broad spectrum of investment opportunities available to investors. As these companies prepare to make their mark on Dalal Street, investors will be watching closely, ready to assess the potential of these new market entrants.
