IPO Rush Week: ₹1,991 Cr IPOs Anticipated This Week while 11 Companies Gear Up for Listing

Get ready for a busy week in the primary market! Buckle up as the IPO rush continues with a whopping ₹1,991 crore worth of public issues hitting the street starting today, June 24. That’s not all – 11 companies are also prepping up for their listings on the stock exchanges. Let’s dive deeper and see what this week has in store.

IPO Rush: 10 Upcoming This Week

Company Name	Offer Price	Opening Date	Closing Date	Issue Size
Allied Blenders and Distillers Ltd	₹267 – ₹281	25-06-24	27-06-24	₹1500 Cr
Vraj Iron and Steel Ltd	₹195 – ₹207	26-06-24	28-06-24	₹171 Cr
Shivalic Power Control Ltd	₹95 – ₹100	24-06-24	26-06-24	₹64.32 Cr
Sylvan Plyboard India	₹55	24-06-24	26-06-24	₹28.05 Cr
Mason Infratech	₹62 to ₹64	24-06-24	26-06-24	₹30.46 Cr
Visaman Global Sales	₹43	24-06-24	26-06-24	₹16.05 Cr
Akiko Global Services	₹73 to ₹77	25-06-24	27-06-24	₹23.11 Cr
Divine Power Energy	₹36 to ₹40	25-06-24	27-06-24	₹22.76 Cr
Petro Carbon and Chemicals	₹162 to ₹171	25-06-24	27-06-24	₹113.16 Cr
Diensten Tech	₹95 – ₹100	26-06-24	28-06-24	₹22.08 Cr

Mainboard IPOs: A Closer Look at the Big Players

This week’s action features two mainboard IPOs, each aiming to grab a significant chunk of the ₹1,991 crore pie. Here’s a breakdown of the key details:

Allied Blenders and Distillers Ltd Details

Offer Price	₹267 – ₹281 per share
Face Value	₹2 per share
Opening Date	25 June 2024
Closing Date	27 June 2024
Total Issue Size (in Shares)	53,380,783
Total Issue Size (in ₹)	₹1500 Cr
Issue Type	Book Built Issue IPO
Lot Size	53 Shares

One of the mainboard IPOs to launch is Allied Blenders and Distillers, the popular Officer’s Choice whisky maker. Their ₹1,500 crore public offering will open for subscription on June 25th with a price band of ₹267-₹281 per share. The issue closes on June 27th.

Founded in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor (IMFL) company that offers whisky, brandy, rum, and vodka. It also sells packaged drinking water under various brands. Officer’s Choice Whisky is a major player, one of the world’s best-selling brands (2016-2019) in annual sales volume.

In terms of financial performance,  Allied Blenders and Distillers’ revenue decreased by -1.27% in the financial year ending March 31, 2023, compared to the previous year. However, their profit after tax (PAT) did see an increase of 8.47%.

IPO Objectives:

• Prepayment or scheduled repayment of outstanding borrowings.
• General corporate purposes.

Vraj Iron and Steel Ltd Details

Offer Price	₹195 – ₹207 per share
Face Value	₹10 per share
Opening Date	26 June 2024
Closing Date	28 June 2024
Total Issue Size (in Shares)	8,260,870
Total Issue Size (in ₹)	₹171 Cr
Issue Type	Book Built Issue IPO
Lot Size	72 Shares

This week’s mainboard offerings include Vraj Iron and Steel Limited, a Chhattisgarh-based manufacturer of Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.

Established in June 2004, Vraj Iron and Steel offers a variety of products, including Sponge Irons, TMT Bars, MS Billets, and by-products like Dolochar, Pellets, and Pig Iron. These cater to a diverse range of industrial customers and end-users. It’s worth noting that the Raipur Plant has achieved Environmental Management System Certification under the ISO 14001:2015 standard.

Their revenue increased by 24.87%, and profit after tax (PAT) rose by a significant 88.12% in the financial year ending March 31, 2023, compared to the previous year.

IPO Objectives

The company plans to utilize the net proceeds from the IPO for:

• Funding capital expenditure towards the expansion project at their Bilaspur Plant.
• Repayment or prepayment of borrowings from HDFC Bank was obtained for the expansion project.
• General corporate purposes.

8 Upcoming SME IPOs

This week promises to be a whirlwind for investors looking at the SME segment. Here’s a glimpse at 8 upcoming IPOs across various industries:

Shivalic Power Control Ltd Details

Offer Price	₹95 – ₹100 per share
Face Value	₹10 per share
Opening Date	24 June 2024
Closing Date	26 June 2024
Total Issue Size (in Shares)	6,432,000
Total Issue Size (in ₹)	₹64.32 Cr
Issue Type	Book Built Issue IPO
Lot Size	1200 Shares

Looking to raise ₹64.32 crore, the electric panels maker IPO aims to address working capital needs, fund capital expenditure for machinery and warehouse expansion, and potentially fuel inorganic growth.

IPO Objectives:

• Working capital, capital expenditure
• Machinery procurement, warehouse expansion
• Inorganic growth
• General corporate purposes.

Sylvan Plyboard India Details

Offer Price	₹55 per share
Face Value	₹10 per share
Opening Date	24 June 2024
Closing Date	26 June 2024
Total Issue Size (in Shares)	5,100,000
Total Issue Size (in ₹)	₹28.05 Cr
Issue Type	Book Built Issue IPO
Lot Size	2000 Shares

The subscription for the maiden public issue of the wood products company will also occur from June 24-26. This ₹28.05 crore fixed-price IPO seeks funds to purchase additional machinery, meet working capital requirements, and cover issue expenses, ultimately propelling their growth in the wood products industry. 

IPO Objectives:

• Purchase additional machinery and meet working capital needs 
• Cover issue expenses
• General corporate purposes.

Mason Infratech Details

Offer Price	62 – ₹64 per share
Face Value	₹10 per share
Opening Date	24 June 2024
Closing Date	26 June 2024
Total Issue Size (in Shares)	4,760,000
Total Issue Size (in ₹)	₹30.46 Cr
Issue Type	Book Built Issue IPO
Lot Size	2000 Shares

The real estate construction company, too, will open its Rs 30.46-crore IPO on June 24 and close on June 26. The price band is Rs 62-64 per share. With an IPO size of ₹30.46 crore, Mason Infratech aims to raise capital for working capital needs and general corporate purposes, potentially fueling its real estate construction projects.

IPO Objectives:

• Meet working capital needs
• General corporate purposes

Visaman Global Sales Details

Offer Price	₹43 per share
Face Value	₹10 per share
Opening Date	24 June 2024
Closing Date	26 June 2024
Total Issue Size (in Shares)	3,732,000
Total Issue Size (in ₹)	₹16.05 Cr
Issue Type	Fixed Price Issue IPO
Lot Size	3000 Shares

This will be the fourth initial public offering, opening on June 24 and closing on June 26. The company supplies steel pipes, structural steel, HR coils, GC sheets, CR, and roofing PUF panels. With its ₹16.05 crore IPO, it plans to set up a new manufacturing facility to expand its steel product offerings. The funds will also address working capital needs and general corporate goals.

IPO Objectives:

• Set up a manufacturing facility.
• Meet working capital needs
• General corporate purposes

Akiko Global Services Details

Offer Price	₹73 – ₹77 per share
Face Value	₹10 per share
Opening Date	25 June 2024
Closing Date	27 June 2024
Total Issue Size (in Shares)	3,001,600
Total Issue Size (in ₹)	₹23.11 Cr
Issue Type	Book Built Issue IPO
Lot Size	1600 Shares

Akiko Global Services, the company behind Money Fair, aims to raise ₹23.11 crore. The technology platform uses algorithms to gather and analyze data to assess creditworthiness. It provides insights for easy comparison of offers and aims to increase the chances of securing customers’ loans or cards. The focus is on implementing technological solutions, developing a mobile app, and enhancing brand awareness to strengthen their financial product distribution platform.

IPO Objectives:

• Implement ERP & TeleCRM solutions
• Develop mobile app
• Meet working capital needs
• Enhance brand visibility
• General corporate purposes.

Divine Power Energy Details

Offer Price	₹36 – ₹40 per share
Face Value	₹10 per share
Opening Date	25 June 2024
Closing Date	27 June 2024
Total Issue Size (in Shares)	5,690,000
Total Issue Size (in ₹)	₹22.76 Cr
Issue Type	Book Built Issue IPO
Lot Size	3000 Shares

This fiberglass-covered wires/strips manufacturer ₹22.76 crore IPO aims to address working capital needs and support general corporate purposes, potentially propelling their growth in the fiberglass-covered wires/strips market. 

IPO Objectives:

• Meet working capital needs
• General corporate purposes.

Petro Carbon and Chemicals Details

Offer Price	₹162 – ₹171 per share
Face Value	₹10 per share
Opening Date	25 June 2024
Closing Date	27 June 2024
Total Issue Size (in Shares)	6,617,600
Total Issue Size (in ₹)	₹113.16 Cr
Issue Type	Book Built Issue IPO
Lot Size	800 Shares

It will be the third SME company to open its public issue for subscription during the same period. The largest SME IPO this week (estimated at ₹113.16 crore), Petro Carbon and Chemicals is offering existing shareholders an opportunity to sell their shares through this Offer for Sale.

IPO Objectives:

• Achieve listing benefits
• Execute Offer for Sale by selling shareholders

Diensten Tech Details

Offer Price	₹95 – ₹100 per share
Face Value	₹10 per share
Opening Date	26 June 2024
Closing Date	28 June 2024
Total Issue Size (in Shares)	2,208,000
Total Issue Size (in ₹)	₹22.08 Cr
Issue Type	Book Built Issue IPO
Lot Size	1200 Shares

The IT support and consulting services provider ₹22.08 crore IPO aims to settle outstanding payments for a recent business acquisition, meet working capital needs, and cover general corporate expenses, potentially fueling their IT support and consulting services.

IPO Objectives:

• Settle outstanding payments for the acquired business.
• Meet working capital needs.
• General corporate purposes
• Cover issue expenses.

Companies Gearing Up for Listing

While the IPO rush grabs most of the limelight, here are 11 companies that will be listing on the stock exchanges this week:

Company Name	Listing Date	Exchange
DEE Development Engineers	June 26, 2024	BSE, NSE
Akme Fintrade India	June 26, 2024	BSE, NSE
Stanley Lifestyles	June 28, 2024	BSE, NSE
United Cotfab	June 24, 2024	BSE, SME
GP Eco Solutions	June 24, 2024	BSE, SME
Falcon Technoprojects India	June 26, 2024	BSE, SME
Durlax Top Surface	June 26, 2024	BSE, SME
GEM Enviro Management	June 26, 2024	BSE, SME
Dindigul Farm Product	June 27, 2024	BSE, SME
Winny Immigration and Education Services	June 27, 2024	BSE, SME
Medicamen Organics	June 28, 2024	BSE, SME

To wrap up,

This week promises to be a whirlwind of activity in the primary and secondary markets. With a good mix of established companies and upcoming players from diverse sectors, investors will have a variety of options in the ipo rush this week to consider. Remember, thorough research is crucial before making any investment decisions. So, do your due diligence, stay updated with the latest developments, and make informed choices!

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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