Continuing the last week’s streak, three more mainline Initial Public Offerings- Muthoot Microfin Limited, Suraj Estate Developers Limited and Motisons Jewellers Limited will be opening today on 18th December 2023. All three issues will open today for subscription and will close on 20th December 2023. Combined, these 3 IPOs aim to raise a total of Rs 1,511.09 crore from the investors.
Here is a roundup of important details for these issues.
Muthoot Microfin Limited IPO details
- This Rs 960 crore IPO comprises of a fresh issue of 2.61 crore shares aggregating to Rs 760 crore and an offer for sale of 0.69 crore shares aggregating to Rs 200 crore.
- The issue will open for subscription on 18th December and will close on 20th December.
- The price band is set in the range of Rs 277 to Rs 291 per share at a face value of Rs 10 per share.
- Lot size is of 51 shares. Retail investors can bid for up to 13 lots whereas NIIs can bid for 14-67 lots. Big HNIs can bid for a minimum of 68 lots.
- Maximum 50% of the net issue is reserved for QIB investors while retail and NIIs portion is reserved at minimum 35% and 15% respectively.
- The issue will be listed on 26th December 2023.
Motisons Jewellers IPO details
- This is a fresh issue of up to 2.75 crore shares aggregating to Rs 151.09 crore and there is no offer-for-sale component.
- Issue opening date is 18th December and closing date is 20th December 2023.
- The price band is set in the range of Rs 52 to Rs 55 per share at a face value of Rs 10 per share.
- The lot size is 250 shares. Retail investors can bid for 1-14 lots, NIIs for 15-72 lots and big HNIs have to bid for at least 73 lots. Minimum investment per lot is Rs 13,750 when calculated at the upper price band.
- As per the IPO reservation guidelines, QIBs portion should not exceed 50% of the net issue. Reservation for the retail and NIIs categories is minimu 35% and minimum 15% respectively.
- The Motisons Jewellers IPO will be listed on 26th December 2023.
Suraj Estate Developers IPO Details
- The issue will open for subscription between 18th to 20th December 2023.
- This IPO consists entirely of a fresh issue of 1.11 crore shares worth Rs 400 crore.
- The price band is set at Rs 340 to Rs 360 per share at a face value of Rs 5 per share.
- The lot size is 41 shares. Investors can bid for a minimum of 41 shares and in multiples of 41 shares thereafter. The minimum investment i.e, investment per 1 lot comes to Rs 14,760.
- Retail investors can bid for 1-13 lots, small HNIs for 14-67 lots and the big HNIs can bid for a minimum 68 lots.
- The IPO reserves a minimum 15% and minimum 35% shares of the net offer for the retail investors and NIIs respectively. The QIBs portion should not be more than 50% of the net offer.
- The listing date is 26th December 2023.
Additionally, 3 more mainline issues, namely of Happy Forgings, RBZ Jewellers and Mufti Menswear will be opening tomorrow on 19th December, followed by Azad Engineering on 20th December and Innova Captab on 21st December 2023. That makes it a total of 8 mainline IPOs to open within a week, not to count the SME IPOs, a near-record for the market in India
3 IPOs opened last week also, that of DOMS Industries, India Shelter Finance and INOX India. These issues are poised for the allotment this week and subsequent listing on the stock exchanges.
