Less activity is expected in the primary market during the initial week of the new financial year FY25, starting from April 1, as there will be only one major IPO opening for subscription, with 10 companies scheduled for listing on the bourses.
Bharti Hexacom IPO:
The fixed-line telephone and broadband services provider will launch its Rs 4,275-crore IPO on April 3, with a price band set at Rs 542-570 per share. This IPO comprises only an offer-for-sale of 7.5 crore equity shares by public shareholder Telecommunications Consultants India.
The offer by the Bharti Airtel subsidiary will conclude on April 5. Airtel holds a 70 percent stake in Bharti Hexacom, while the remaining 30 percent is owned by Telecommunications Consultants India.
Upcoming IPO Closures:
Next week, no new SME IPOs are scheduled, but seven SME companies will conclude their initial public offerings. Radiowalla Network and TAC Infosec will close their public issues on April 2, while bidding for Yash Optics & Lens, Jay Kailash Namkeen, and K2 Infragen IPOs will end on April 3.
Additionally, subscriptions for Aluwind Architectural and Creative Graphics Solutions India IPOs will close on April 4.
Listings:
A total of 10 companies are set to debut on the bourses, including nine from the SME segment. Jammu & Kashmir-based EPC contractor SRM Contractors is the only company from the mainboard segment to list shares next week, on April 3. The Rs 130-crore SRM IPO was subscribed 86.57 times during March 26-28.
Trading premium for SRM Contractors IPO shares in the grey market has increased to over 50 percent, up from 42 percent earlier over the issue price of Rs 210 per share, according to market observers. The grey market serves as an unofficial platform for trading in IPO shares until listing.
From the SME segment, Vishwas Agri Seeds will debut on April 1, and Naman In-Store (India) on April 2, on the NSE Emerge.
Trading in Blue Pebble and Aspire & Innovative Advertising shares will commence on the NSE Emerge from April 3. Vruddhi Engineering Works and GConnect Logitech and Supply Chain will also list on April 3, on the BSE SME.
Trust Fintech will make its debut on the NSE Emerge on April 4, while trading in Radiowalla Network and TAC Infosec shares on the same exchange will begin from April 5.
