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6 Upcoming IPOs and 12 Listings to Watch For This Week

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6 Upcoming IPOs and 12 Listings to Watch For This Week

It will be a buzz-worthy week at the stock market, with as many as six upcoming IPOs and 12 listings starting today (13 May). While there’s Rulka from the electricals industry, there’s also Go Digit from General Insurance, Mandeep from Auto, Veritaas Advertising, HOAC Foods, Quest Laboratories, and Indian Emulsifiers opening their IPOs. These organizations, which include 6 SMEs, plan to raise ₹2,765.87 crore.

If the array of names and sectors proves challenging, you can check all the details to determine which stocks grab your interest. Here’s a low-down: 

IPOS That Will Open This Week

Company NameOffer PriceOpening DateClosing DateIssue Size
Veritaas Advertising Ltd₹11413-05-2415-05-24₹8.48 Cr
Mandeep Auto Industries Ltd ₹6713-05-2415-05-24₹25.25 Cr
Indian Emulsifier Ltd₹13213-05-2416-05-24₹42.39 Cr
Go Digit General Insurance₹258 to ₹27215-05-2417-05-24₹2614.65 Cr
Quest Laboratories Ltd₹93 to ₹9715-05-2417-05-24₹43.16 Cr
Rulka Electricals Ltd ₹223 to ₹23516-05-2416-05-24₹26.40 Cr
Source: Moneycontrol

Veritaas Advertising Ltd

Veritaas Advertising Limited has 30+ years of experience offering comprehensive advertising solutions, including brand strategy, events, transit media, OOH, radio, TV, and print media. It serves prestigious clients across multiple cities, such as Vi, Ultratech Cement, Yamaha, Mitsubishi Electric, and ITC Limited, ensuring brand presence, engagement, and increased sales. Veritaas plans to raise ₹8.48 crores through its IPO.

IPO Date13 May  2024 to 15 May  2024
Face Value₹10 per share
Price Band₹109 to ₹114 per share
Lot Size1200 Shares
Total Issue Size744,000 shares( fresh issue of ₹8.48 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE (SME Market)

Veritaas Ipo Objectives include:

  • Funding set-up of new police booths in Maharashtra, West Bengal, Assam, Delhi
  • Funding Pole Kiosks to set up traffic signal point displays in Mumbai, Kolkata, and Pune
  • General Corporate Purposes

    Mandeep Auto Industries Ltd:

    Founded in 2000, Mandeep Auto Industries is a top-tier manufacturer of automotive and industrial components. From 2010 to 2015, the company expanded, enhancing capabilities by incorporating Automatic Gear Hobbling & CNC systems. Some of their partners include Hero, JL Autoparts, Murugappa, and Rockman. Their IPO intends to raise ₹25.25 crores. 

    IPO Date13 May 2024 to 15 May 2024
    Face Value₹10 per share
    Price₹67 per share
    Lot Size2000 Shares
    Total Issue Size3,768,000 shares(fresh issue ₹25.25 Cr)
    Issue TypeFixed Price Issue IPO
    Listing AtNSE (SME Market)

    Mandeep Auto Industries IPO Objectives include: 

    • Expanding the existing manufacturing facility and constructing a building on the adjacent land 
    • Purchasing equipment, machinery, etc., for the facility expansion
    • Repaying certain debts
    • Funding working capital requirements
    • General corporate expenses

    Indian Emulsifiers Limited 

    The company manufactures, supplies, and markets specialty chemicals to industries, including Food, Cosmetics, Pharmaceuticals, Home care, Institutional and Industrial Cleaning, Metal Cleaning, Mining, Agriculture, etc. With over 30 years of experience in the chemical industry, it has set up a state-of-the-art manufacturing facility at MIDC LOTE outside Mumbai.

    It has a production capacity of 6,000 metric tons per annum and is equipped with computerized process control, an innovative R&D center, Quality Control, and Application Laboratories. The company’s issue size is ₹42.39 crore. The company’s price band is ₹132, and its last GMP was ₹180.

    IPO Date13 May 2024 to 16 May 2024
    Face Value₹10 per share
    Price Band₹125 to ₹132 per share
    Lot Size1000 Shares
    Total Issue Size3,211,000 shares(aggregating up to ₹42.39 Cr)
    Fresh Issue3,211,000 shares(aggregating up to ₹42.39 Cr)
    Issue TypeBook Built Issue IPO
    Listing AtNSE (SME)

    Indian Emulsifiers IPO Objectives: 

    • Capital expenditure requirements for plant and machinery, civil work, and installation cost
    • Working capital expenditures for general corporate purposes

    Go Digit General Insurance Ltd 

    The company provides insurance products and services in motor, health, and other insurances such as international travel, shop, home, and life insurance. Since its inception in 2017, 3+ crore customers have opted for its services. The company, backed by Virat Kohli and Anushka Sharma, now opens for subscription on May 15, 2024, with an issue size of ₹2,614.65 crores. With a price band of ₹272, Go Digit General Insurance IPO’s last GMP was ₹47.

    IPO DateMay 15, 2024 to May 17, 2024
    Face Value₹10 per share
    Price Band₹258 to ₹272 per share
    Lot Size55 Shares
    Total Issue Size96,126,686 shares(aggregating up to ₹2,614.65 Cr)
    Fresh Issue41,360,294 shares(aggregating up to ₹1,125.00 Cr)
    Offer for Sale54,766,392 shares (aggregating up to ₹1,489.65 Cr)
    Issue TypeBook Built Issue IPO
    Listing AtBSE, NSE

    Go Digit IPO objectives include: 

    1. Undertaking existing business activities
    2. Use net proceeds to enhance its visibility and brand image 

    Quest Laboratories Ltd

    Quest Laboratories Limited is a June 1998-incorporated pharmaceutical company that manufactures various medications, including diabetes treatments, antibiotics, antimalarials, respiratory medications, antidepressants, and more.

    The company operates in 12 states and 2 union territories, with the manufacturing unit in Dhar, Madhya Pradesh. Quest Laboratories’ IPO price band is set at ₹93 to ₹97, but there has been no update on its GMP yet. 

    IPO Date15 May 2024 to 17 May 2024
    Face Value₹10 per share
    Price Band₹93 to ₹97 per share
    Lot Size1200 Shares
    Total Issue Size4,449,600 shares(fresh issue of ₹43.16 Cr)
    Issue TypeBook Built Issue IPO
    Listing AtNSE (SME)

    Quest Laboratories Ltd IPO Objectives:

    • Expenditure for purchasing plant and machinery for expanding the existing manufacturing facility
    • Company’s working capital requirements 
    • General corporate purposes

    Rulka Electricals Limited

    Founded in 2004, Rulka offers Engineering, Installation, and Commissioning services for upcoming and existing plants. It also provides electrical supplies for commercial, industrial, residential complexes, utilities, and telecommunications. The company has grown quickly since its establishment and offers quality products and services, including consultancy, designing, supplying, and installing electricals. Their IPO is looking to raise ₹26.40 crore. While its price band is ₹235, Rulka’s GMP as of 14 May was ₹65. 

    IPO Date16 May 2024 to 21 May 2024
    Face Value₹10 per share
    Price Band₹223 to ₹235 per share
    Lot Size600 Shares
    Total Issue Size1,123,200 shares(aggregating up to ₹26.40 Cr)
    Fresh Issue842,400 shares(aggregating up to ₹19.80 Cr)
    Offer for Sale280,800 shares (aggregating up to ₹6.60 Cr)
    Issue TypeBook Built Issue IPO

    Rulka Electricals Ltd IPO Objectives:

    1. To meet working capital requirement
    2. General corporate expenses
    3. To meet offer expenses

    Upcoming Listings This Week

    As the week brings a diverse range of companies across various sectors to the market through their IPOs, you must thoroughly research before investing in them.

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    I’m Archana R. Chettiar, an experienced content creator with
    an affinity for writing on personal finance and other financial content. I
    love to write on equity investing, retirement, managing money, and more.

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