IPOs this week: Four new issues are set for market debut; check list

IPOs this week: Dalal Street is set to witness four initial public offerings (IPOs) in the small and medium enterprise (SME) segment this week. Three of these IPOs have already opened for subscription, while the fourth one is scheduled for May 3.

Sai Swami Metals & Alloys IPO

Sai Swami Metals & Alloys IPO, which has fixed a price band at ₹60 per equity share, opened for subscription on Tuesday, April 30 and will close on May 3. The maker of Dolphin brand stainless steel cookware plans to raise ₹15 crore from the SMC public issue.

The funds generated from the issue will be used to fund the company's expansion plans, meet working capital requirements and general corporate purposes.

The company manufactures and markets stainless steel products such as dinner sets, kadai, casseroles, water bottles, stainless steel sheets and various utensils.

Racks & Rollers IPO

Racks & Rollers's ₹29.95 crore IPO is open for subscription from April 30 to May 30. The storage rack system manufacturer has set a price band of ₹73-₹78 per equity share. The IPO is a fresh issue of 38.5 lakh shares.

Investors can bid for a minimum of 1,600 equity shares and in multiples after that. The company's promoters include Afzal Hussain, Khasim Sait, Mohammad Arif Abdul Gaffar Dor, Syed Azeem, Hanif A Khatri, and Nuumaan Khasim.

The issue proceeds will be used to fulfil general corporate purposes and meet working capital requirements.

Amkay Products IPO

The Maharashtra-based healthcare products maker's ₹12.61 crore public offer launched on Tuesday. The issue, which has fixed a price band of ₹52-₹55 per share, will close on May 3.

The company manufactures and markets medical devices, disposables and healthcare products such as face masks, alcohol swabs, pulse oximeters, surgeon caps and nebulisers, among other things.

Slone Infosystems IPO

Slone Infosystems IPO will be live for subscription from May 3 to May 7. The IT hardware solutions provider intends to raise ₹11.06 crore by fresh issuance of 14 lakh equity shares. The price for the fixed price issue is ₹79 per share.

The funds generated will be used to purchase computer equipment, repay debt and general corporate purposes.