Hexaware Technologies, Voler Car, two other IPOs to open on February 12; check list

IPOs on February 12: Four initial public offerings, including a mainboard IPO of Hexaware Technologies Limited and three SME issues, will open for public subscription on Wednesday.

The NSE SME initial share sales include Voler Car, Maxvolt Energy Industries and PS Raj Steels. The shares of these companies will be listed on the stock exchanges on February 19.

Hexaware Technologies IPO

It is completely an offer-for-sale (OFS) of 12.36 crore shares aggregating to ₹8,750 crore by promoter CA Magnum Holdings.

Interested investors can apply for at least 21 shares worth ₹14,868.

PS Raj Steels IPO

The initial share sale of PS Raj Steels is entirely a fresh issue of 20.20 lakh shares valued at ₹28.28 crore. The price band has been fixed at ₹132-₹140 per share.

The company intends to use funds to the tune of ₹26.50 crore for working capital needs. A portion will also be used for issue-related expenses.

Investors can apply for at least 1,000 shares, needing ₹1,40,000 investment.

PS Raj Steels is a key manufacturer and supplier of stainless steel pipes and tubes in India. Its products include nominal bore, outer diameter, slotted, and section pipes.

Voler Car IPO

The ₹27 crore initial public offer of Voler Car is solely a fresh issue of 30 lakh shares. The price band has been set at ₹85 to ₹90 per share.

The net proceeds will be used for working capital requirements, general corporate purposes, and meet issue expenses.

The minimum investment required is ₹1,44,000 for 1,600 shares.

Voler Car offers employee transportation services to large multinational companies and corporate clients. It has a fleet of over 2,500 vehicles.

Maxvolt Energy Industries IPO

The ₹54 crore book-built issue of Maxvolt Energy Industries is a mix of fresh issue of 24 lakh shares and an OFS of 6 lakh shares.

The money generated will be used to repay debt, fund capital expenditure requirements for purchasing plant and machinery, and for corporate general purposes.

Investors can bid for at least one lot size, consisting of 800 shares worth ₹1,44,000.