Three SME IPOs next week: Know the price band and other details
The IPOs will be floated by companies that are in varied sectors such as textiles and agriculture. Apart from belonging to the SME segment, they have one thing in common -- a strong business model.
Kolkata: Three SME IPOs are going to hit the market next week. These are SSMD Agrotech India IPO, Mother Nutri Foods IPO and KK Silk Mills IPO. At the moment no mainboard issues are scheduled to be launched next week. The next week will be one of very few in recent months when there is no mainboard IPOs. Let's have a look at the SME IPOs lined up for next week. A few mainboard IPO listings will, however, take place next week. Those lined up for listing are Excelsoft Technologies, Sudeep Pharma and Gallard Steel.
SSMD Agrotech India IPO
SSMD Agrotech India is engaged in the business of manufacturing agro-food products. It has got brands such as Manohar Agro, Delhi Special and Super SS under its belt. The IPO is designed to raise Rs 34.09 crore. The bidding process will be open from November 25 to November 27. The price band for issue has been fixed at Rs 114–121. This issue will comprise fresh shares only and there will be 28 lakh shares. The proceeds will be utilized for working capital, debt repayment and setting up new D2C dark stores. Part of the money will also be used for purchase of machinery for a namkeen plant and sundry corporate needs. SSMD Agrotech India is engaged in manufacturing, trading and packaging agro-food products.
Mother Nutri Foods IPO
This IPO is designed to raise Rs 31.67 crore. The bidding window will be open from November 26 to November 28. The price band of this IPO is Rs 111–117. The issue comprises a fresh issue of Rs 31.67 crore and an OFS segment to raise Rs 7.92 crore. The proceeds of the fresh issue will be deployed to set up a new production unit in Mahuva, Gujarat and for sundry corporate needs. It manufactures a dozen varieties of peanut butter.
KK Silk Mills IPO
The IPO of textile manufacturer KK Silk Mills is designed to raise Rs 28.50 crore by issuing only fresh shares. The price band is Rs 36-38. The bidding process will remain between November 26 and November 28. The proceeds of the issue will be used to replace machinery, reduce debt and sundry for corporate needs. The company's business is manufacturing fabrics and garments for kids' wear, women's wear and men's wear.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.