Despite a bit of a lull at the start of the new financial year, analysts are overly optimistic about the initial share sales in the lineup for the rest of the year.
“India’s impressive economic growth captured investor attention. Moreover, a wave of optimism has swept across the nation, drawing retail investors to invest, who are keen to be part of the country’s growth narrative,” said Mahavir Lunawat, MD, Pantomath Capital.
Here’s what’s on the IPO table next week:
Ramdevbaba Solvent IPO
The SME IPO of Ramdevbaba Solvent will open for subscription on April 15 and close on April 18. The company plans to raise Rs 50.2 crore through the IPO and list the shares on the NSE SME platform.
The public offer, which is completely a fresh equity issue of 59.13 lakh shares, is priced in the range of Rs 80-85 apiece.
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Ramdevbaba Solvent is in the business of manufacturing, distribution, marketing and selling of physically refined rice bran oil. The company makes and sells rice bran oil to FMCG companies amongst others.
Choice Capital Advisors is the book-running lead manager of the IPO, while Bigshare Services is the registrar for the issue.
Grill Splendour Services IPO
The Rs 16.5-crore IPO of Grill Splendour Services will also kick-off from April 15. The issue, which is completely a fresh equity sale of 13.72 lakh shares, closes on April 18.
The company has fixed a price band of Rs 120 per share, where investors can bid for 1,200 shares in one lot.
About 50% of the public offer is reserved for retail investors and the remaining 50% for other investors.
Grill Splendour Services is a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralised production facility and multiple corporate clients.
Of these 17 retail stores, 5 are running under the franchisee model (franchisee owned, and company operated) and the remaining 12 stores are owned by the company.
Inventure Merchant Banker Services is acting as the sole book-running lead manager for the IPO and Bigshare Services is the registrar.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
