Among these, Garuda Construction will launch its public issue in the mainboard segment, while Shiv Texchem is set to tap into the SME market.
The upcoming will also see 6 listings, all of which in the SME segment. These include from HVAX Technologies, Saj Hotels, Subam Papers, Paramount Dye Tec, NeoPolitan Pizza and Kyati Global Ventures.
The IPO pipeline for the rest of the fiscal looks promising with some mega issues lined up. According to a report, about 26 companies proposing to raise Rs 72,000 crore are sitting on Sebi approval. Further, another 55 companies looking to raise about Rs 89,000 crore are awaiting the regulator’s nod.
Here’s what’s on the IPO table next week
Garuda Construction IPO
The initial public offer (IPO) of Garuda Construction and Engineering will be for subscription on October 8. The issue, which includes a fresh equity sale worth Rs 173 crore and an offer for sale (OFS) of Rs 90 crore, closes on October 10.The company has fixed a price band of Rs 92-95 per share, where investors can bid for 157 shares in one lot.In the IPO, about 35% is reserved for retail investors, 50% for qualified institutional buyers, and the rest 15% for non-institutional investors.
The proceeds from the fresh issue to the extent of Rs 100 crore will be utilised for funding the working capital requirements and general corporate purposes including unidentified inorganic acquisition.
Garuda Construction provides end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects.
Shiv Texchem IPO
The Rs 101 crore SME IPO of Shiv Texchem will also open for public subscription on October 8. The issue is completely a fresh equity sale of 61.05 lakh shares.
The IPO is priced in the range of Rs 158-166 per share, where investors can bid for 800 shares in one lot.
Shiv Texchem imports and distributes hydrocarbon-based secondary and tertiary chemicals, which are important raw materials for numerous industries.