IPOs in August: TVS Supply Chain, Balaji Specialty Chemicals, and other issues to open this month; check details
4 min read 05 Aug 2023, 07:56 PM ISTSeveral companies are opening for subscription and getting listed on the stock exchange this month, including TVS Supply Chain Solutions, Balaji Specialty Chemicals, among others.
PremiumIPOs in August: The primary market witnessed some major listings in both main board and SME IPOs in July, which kept investors engaged with subscriptions and listings. Moving on, August will also witness new listings and some much-awaited IPO issues that are available for subscription.
Let's take a look at some of the companies that are opening for subscription this month, along with few that are getting listed on the bourses.
TVS Supply Chain Solutions IPO:
The initial public offering (IPO) of the supply chain logistics solutions provider will open on Thursday, August 10. TVS Supply Chain Solutions plans to raise ₹600 crore from the fresh issue as against ₹2,000 crore decided earlier. It cut the offer-for-sale (OFS) portion to 1.42 crore shares from 5.9 crore shares earlier planned. The anchor book will be open for a day on August 9 and the issue will close on August 14.
The company will finalise the basis of allotment on August 22 and the equity shares will be credited to the demat accounts of eligible allottees on August 23. TVS Supply Chain Solutions shares will be listed on stock exchanges on August 24. The company plans to utilise the fresh issue worth ₹600 crore to repay its debt and its subsidiaries’ TVS LI UK and TVS SCS Singapore and for general corporate purposes.
Balaji Specialty Chemicals IPO:
Chemical manufacturer Balaji Specialty Chemicals is set to launch its IPO for subscription on Friday, August 18. The company will raise around ₹425 crore via IPO that comprises a fresh issue of ₹250 crore and offer for sale up to 2,60,00,000 equity shares ₹2 each.
The issue will close on Tuesday, August 22 and the basis of allotment will be done on August 25. The equity shares will be credited to the demat accounts of eligible allottees on Tuesday, August 29. The shares are likely to be listed on stock exchanges BSE and NSE on August 30. The company intends to utilize the net proceeds from the issue towards repayment or pre payment the outstanding borrowings of the company.
Tata Technologies IPO:
The Tata Group company issue is set to hit Dalal Street after a gap of 19 years. According to market experts, the company will take 30-45 days for finalising the price band and other formalities for launching the IPO, after receiving SEBI's go-ahead. So, investors can expect Tata Technologies IPO by the end of August or in the first quarter of September 2023.
The company has proposed 405,668,530 shares to list on Indian bourses, so the IPO price would come around ₹295. In case of 10 to 15 per cent discounted price band against the market valuations, Tata Technologies IPO price band can be expected around ₹280 to ₹285 range, according to market experts.
Srivari Spices and Foods IPO:
Srivari Spices and Foods is a small- and medium-sized enterprise (SME) IPO, which will open for subscription on Monday, August 7. The price band of the IPO has been fixed at ₹40 to ₹42 per equity share. The company is aiming to raise ₹9 crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform. The net proceeds from the IPO will be utilized to fund working capital requirements and general corporate purpose.
The issue closes on August 9, 2023 and the basis of allotment will be done on August 14. The equity shares will be credited to the demat accounts of eligible allottees on August 17. The listing date is tentatively set as August 18.
The company is engaged in the business of manufacturing spices and flour (chakki atta). The spices are delivered to over 3,000 retail outlets and its whole wheat and sharbati atta to over 15,000 outlets in Telangana and Andhra Pradesh.
New listings:
SBFC Finance: SBFC Finance is a mainboard IPO and its shares will get listed on stock exchanges BSE and NSE, after closing on Monday, August 7. After the conclusion of the IPO, the tentative listing date for shares is set as August 16, 2023.
Concord Biotech: Biotechnology firm Concord Biotech will conclude its ongoing IPO on Tuesday, August 8. The basis of allotment will be done on August 11. Concord Biotech is a mainboard IPO and its shares will get listed on stock exchanges BSE and NSE. After the conclusion of the IPO, the tentative listing date for shares is set as August 17, 2023.
Oriana Power: The SME IPO follows the book-building route and will include 50.55 lakh equity shares, each with a face value of ₹10. The listing of these shares will take place on NSE Emerge. The tentative listing date after the conclusion of the issue is set as August 11. The firm provides solar energy solutions and offer their services to industrial and commercial customers
Vinsys IT: The final allotment will likely be made on August 9, after the SME IPO concluded on August 4. The listing of shares will take place on the NSE Emerge platform. The tentative listing date after the conclusion of the issue is set as August 14. Vinsys IT Services is engaged in offering services in IT skill development, trainings, and certification domain.
Sangani Hospitals: The SME IPO will conclude on Tuesday, August 8 and the basis of allotment will be done on August 11. The equity shares will be credited to the demat accounts of eligible allottees on August 16. The issue will get listed on the NSE SME platform on August 17.
Yudiz Solutions: The issue will close on Tuesday, August 8 and the basis of allotment will take place on August 11. The listing of these shares will take place on the NSE Emerge platform. The tentative listing date after the conclusion of the issue is set as August 17. In May, the blockchain and gaming company had received an NSE approval for an SME IPO.
