The year 2023 has recorded 123 SME IPOs so far and there’s still more to come as 3 more companies; Siyaram Recycling, S J Logistics and Presstonic Engineering are set to launch their issues next week. These three IPOs combined aim to raise a total of Rs 94.26 crore. Two mainline IPOs will also be opening next week on 13th December, keeping the momentum in continuity in primary as well as secondary market. This week witnessed listing of 4 IPOs at SME NSE, all debuting positive while investors await mainline issues absent for current two weeks.
Presstonic Engineering IPO details:
- The company is a manufacturer of products for Metro rail rolling stock, Metro rail signalling and infrastructure.
- The IPO will open for subscription between 11th December to 13th December 2023. The allotment will be done on 14th December.
- The refunds and credit of shares will take place on 15th December as the company aims the NSE SME listing on 18th December 2023.
- Presstonic Engineering IPO is a fixed price issue of Rs 23.30 crore, comprising entirely of fresh issue of 33.37 lakh shares.
- The price band is Rs 72 per share at a face value of Rs 10 per share.
- The lot size is 1,600 shares, making minimum investment Rs 1,15,200. Retail investors can bid for only 1 lot while HNIs can bid for more than 2 lots. The IPO reservation is 50% for retail investors and 50% for others.
S J Logistics (India) Limited IPO details:
- The logistics and supply chain solutions provider company is aiming to raise Rs 48 crore through the sale of 38.4 lakh fresh equity shares.
- The company has set the IPO price band at Rs 121 to Rs 125 per share at a face value of Rs 10 per share.
- The lot size is 1,000 shares. Retail investors can bid only for 1 lot per application whereas NIIs can bid for minimum 2 lots.
- IPO reservation is minimum 35% of the net issue for retail portion, minimum 15% for NIIs and maximum 50% for the QIBs.
- The IPO will open for subscription on 12th December and will close on 14th December 2023.
- The basis of allotment and refunds plus credit of shares will be done on 15th December 18th December respectively.
- The IPO will be listed on NSE SME on 19th December 2023.
Siyaram Recycling Industries Limited IPO details
- The company is a leading manufacturer of Brass Ingots, Brass Rods, Brass Spindles and Brass Inserts(CPVC/PPR) Pipe fittings.
- The Rs 22.96 crore IPO of Siyaram Recycling Industries is entirely a fresh issue of 49.92 lakh shares.
- The IPO will open for subscription between 14th to 18th December.
- The issue’s price band is set at Rs 43-46 per share at a face value of Rs 10 per share.
- The lot size is 3,000 shares. Retail investors can apply for only 1 lot and the HNIs can apply for minimum of 2 lots. Minimum investment per application comes to Rs 1,38,000.
- The IPO reserves maximum 50% of the net issue for QIBs, minimum 15% for the NIIs and minimum 35% for the retail investors.
- The basis of allotment will be finalised on 19th December and the refunds and credit of shares will be processed on 20th December 2023.
- The IPO will debut on the NSE SME on 21st December 2023 following the SEBI’s T+3 rule.
Check more details on the NSE’s website under the SME category. The red-herring prospectus with full details are available there.
