IPOs this week: 2 issues to remain open, 7 new SME companies to make stock market debut

The primary market will take a breather after witnessing a bustling month of December with no new issues to open in the coming week. Around seven new SME companies will make their stock debut on the exchanges in the coming week

Two SME issues, Kay Cee Energy & Infra Ltd and Kaushalya Logistics Ltd, which opened last week, will remain open for bidding.

Last week, half a dozen companies got listed in the Indian equity market. Muthoot Microfin, Suraj Real Estate Developers, Motisons Jewellers, Credo Brands, Happy Forgings, RBZ Jewellers, Azad Engineering together, these companies have raised ₹3,910 crore and have garnered subscriptions between 12 and 173 times.

2023 has been the year of initial public offerings (IPOs), with 173 small and medium-sized enterprises (SMEs) and 52 mainboard listings to date, along with some outstanding debuts and subscriptions from both.

“I believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth, the India manufacturing story, and the feeling that the current ruling dispensation will return to power based on the recent state elections’ performance,” said Venkatraghavan S., Managing Director, Investment Banking, at Equirus.

IPOs open next week

1. Kay Cee Energy & Infra Ltd

Kay Cee Energy & Infra IPO bidding opened for subscription on December 28, 2023 and will close on January 2, 2024. It is a book-built issue of ₹15.93 crores and is entirely a fresh issue of 29.5 lakh shares.

The company has set the price band at ₹51 to ₹54 per share, with a face value of ₹10 per share. The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024.

2. Kaushalya Logistics Ltd

Kaushalya Logistics IPO bidding opened for subscription on December 29, 2023 and will close on January 3, 2024.  It is a book-built issue of ₹36.60 crores and a combination of fresh issue of 33.8 lakh shares aggregating to ₹25.35 crores and offer for sale of 15 lakh shares aggregating to ₹11.25 crores.

The company has set the price band at ₹71 to ₹75 per share, with a face value of ₹10 per share. The allotment for the issue is expected to be finalized on Thursday, January 4, 2024 with tentative listing date fixed as Monday, January 8, 2024.

New Listings 

1. Kay Cee Energy & Ltd - The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024.
2. Shri Balaji Valve Components - The allotment for the Balaji Valve Components IPO is expected to be finalized on Monday, January 1, 2024. The issue is likely to list on BSE SME with tentative listing date fixed as Wednesday, January 3, 2024
3. Manoj Ceramic Ltd - The allotment for the MCPL IPO is expected to be finalized on Monday, January 1, 2024. The issue will list on BSE SME with tentative listing date fixed as Wednesday, January 3, 2024.
4. HRH Next Services Ltd - The allotment for the HRH Next Services IPO is expected to be finalized on Monday, January 1, 2024. The IPO will list on NSE SME with a tentative listing date fixed as Wednesday, January 3, 2024.
5. Akanksha Power and Infra Ltd - The allotment for the Akanksha Power and Infrastructure IPO is expected to be finalized on Monday, January 1, 2024. The IPO will list on NSE SME with a tentative listing date fixed as Wednesday, January 3, 2024.
6. Sameera Agro and Infra Ltd - The allotment for Sameera Agro IPO was finalized on Thursday, December 28, 2023. The IPO will list on NSE SME with a tentative listing date fixed as Monday, January 1, 2024. 
7. AIK Pipes and Polymers - The allotment for AIK Pipes And Polymers IPO was finalized on Friday, December 29, 2023. AIK Pipes And Polymers IPO will list on BSE SME with tentative listing date fixed as Tuesday, January 2, 2024.