Aakaar Medical Technologies, Mayasheel Ventures, Safe Enterprises IPOs open for subscription; check key details

Three initial public offerings (IPOs) of Mayasheel Ventures, Aakaar Medical Technologies, and Safe Enterprises Retail Fixtures opened for subscription on Friday, June 20.

Their allotments will be finalised on June 25, while listing will take place on June 27.

Mayasheel Ventures IPO

The ₹27.28 crore bookbuilding issue of Mayasheel Ventures Ltd is entirely a fresh issuance of 55.14 lakh shares. The price band is fixed at ₹44 to ₹47 per share.

The company intends to utilise the proceeds from the fresh issue for funding capital expenditure requirements for the purchase of machinery, working capital needs and general corporate purposes.

A lot consists of 3,000 shares and in multiples thereafter. The minimum investment is ₹1,41,000.

Narnolia Financial Services Ltd is the issue's book-running lead manager, while Maashitla Securities Pvt Ltd is the registrar. Prabhat Financial Services is the market maker.

Mayasheel Ventures is engaged in the construction of roads and highways for National Highways & Infrastructure Development Corporation Limited (NHIDCL) and other government departments.

Safe Enterprises Retail Fixtures IPO

The initial share sale of Safe Enterprises Retail Fixtures Ltd is only a fresh issue of 116.76 lakh shares aggregating to ₹161.13 crore.

The money generated will be utilised for capital expenditure purposes for setting up a manufacturing unit, investing in subsidiaries, working capital needs and general corporate purposes.

The price range is set at ₹131 to ₹138 per unit, and the lot size is 1,000 shares.

The book-running lead manager for the IPO is Hem Securities, while the registrar is Maashitla Securities.

The company designs, manufactures and installs shop fittings and retail fixtures, offering customised solutions across retail segments like electronics, fashion and department stores.

Aakaar Medical Technologies IPO

Aakaar Medical Technologies seeks to raise ₹27 crore by issuing 37.5 lakh shares. The price range has been set at ₹68 to ₹72 per unit, and the application size is 1,600 shares.

It will use funds to the tune of ₹20.35 crore for working capital requirements and the rest for general corporate purposes.

Aakaar Medical Technologies deals in specialised cosmetic products and devices.