Cash Ur Drive Marketing, Renol Polychem IPOs open for subscription; check price band, lot size and key details

The initial public offerings of Cash Ur Drive Marketing and Renol Ploychem opened for subscription on Thursday, July 31. The IPOs will conclude on August 4.

Their basis of allotment is expected to be finalised on August 5, while listing on the NSE SME platform will occur on August 7.

Cash UR Drive Marketing IPO

Outdoor media advertising player Cash UR Drive Marketing seeks to raise ₹60.79 crore via a fresh issuance of shares worth ₹58.10 crore as well as an offer for sale of ₹2.69 crore.

The price band has been fixed at ₹123 to ₹130 per share, and the minimum investment for individual investors is 2,000 shares.

The money generated will be utilised for investment in technology, funding working capital requirements, capital expenditure, and general corporate purposes.

Raghu Khanna, Managing Director of Cash UR Drive Marketing, said, "This IPO marks a significant milestone in our growth journey. The proceeds will enable us to invest in cutting-edge technology, expand our media asset base, and strengthen our operational capabilities across new geographies. More importantly, it empowers us to scale our ESG-compliant advertising model, helping brands engage audiences in ways that are both effective and environmentally responsible."

Established in 2009, Cash UR Drive Marketing is an out-of-home advertising firm, providing transit, print, outdoor, and digital media solutions.

Narnolia Financial Services Ltd is the issue's lone book-running lead manager, while Bigshare Services is the registrar for the IPO.

Renol Polychem IPO

The ₹25.77 crore Renol Polychem IPO is a fresh issuance of 24.54 lakh shares. The price range has been fixed at ₹100 to ₹105 per share, and a minimum investment for individual investors is 2,400 shares.

The funds generated to the tune of ₹5.60 crore will be used to purchase advanced machinery, ₹15.15 crore for working capital needs to expand operations and market presence, ₹1 crore for debt repayment, and the rest for general corporate purposes.

Renol Polychem, founded in 2008, specialises in the production of colour masterbatches, industrial chemicals, plastic masterbatches, plastic pigments, impact modifiers, and more.

Corporate Makers Capital is the IPO's book-running lead manager, while Skyline Financial Services is the registrar.