RNFI Services, VVIP Infratech among 11 SME IPOs to raise over ₹600 crore this week

Two IPOs - RNFI Services and SAR Televenture - opened for subscription today, marking the beginning of a series of 11 SME IPOs set to launch this week. These companies are looking to raise over ₹600 crore cumulatively through the IPOs.

SAR Televenture

Telecommunication infrastructure provider SAR Televenture (further public offering) FPO subscription started today, and will close on July 24, looking to raise around ₹150 crore. The price band is fixed at ₹200 to ₹210 per equity share.

To be listed on NSE, the SAR Televenture IPO lot size is 500 shares with ₹105,000 application amount. Proceeds from the issue will be used to offer fibre-to-the-home (FTTH) network solutions, set up additional telecom towers, and use the funds for incremental working capital requirements and other miscellaneous expenses.

RNFI Services

Other IPOs slotted for this week include VVIP Infratech, VL Infraprojects, Manglam Infra and Engineering, Chetana Education, Aprameya Engineering, Clinitech Laboratory, Trom Industries, Esprit Stones, SA Tech Software India.

VVIP Infratech

Industrial design company, VVIP Infratech, is looking to raise ₹61.21 crore through its IPO that opens for subscription on Tuesday, July 23. It is a fresh issue of 68.82 lakh shares. The IPO price band is set at ₹91 to ₹93 per share. The minimum log size is 1200 shares, with the application amount of ₹111,600. The Pune-based company intends to use the proceeds for working capital, capital expenditure, and general corporate purposes. It plans to be listed on BSE.

VL Infraprojects

Mangalam Infra

Infrastructure and engineering consulting firm Mangalam Infra is looking to raise ₹27.62 crore through a fresh issue of 49.32 lakh shares. It is open for subscription from July 24 to July 26. The minimum lot size for an application is 2000 shares. The minimum amount of investment required by retail investors is ₹1,12,000.

Chetana Education

Trom Industries

Solar EPC (Engineering, Procurement, and Construction) company, Trom Industries is looking to raise ₹31.37 crore through a fresh issue of 27.28 lakh shares. It is open for subscription between July 25-29. Listing on NSE, the IPO price band is ₹100-115. The minimum lot size for an application is 2000 Shares. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹138,000. It will use the funds to set up a solar power plant and meet working capital needs.

Aprameya Engineering

Healthcare Infrastructure company Aprameya Engineering is looking to raise ₹29.23 crore through a fresh issue of 50.4 lakh shares. It is open for subscription between July 25-29. Listing on NSE, the IPO price band is set at ₹56 to ₹58 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹116,000. It will use funds to meet long term working capital needs.

Esprit Stones

Marble and quartz provider for countertops and flooring, Esprit Stones is looking to raise ₹50.42 crore through a fresh issue of 57.95 lakh shares. It is open for subscription between July 26-30. Esprit Stones IPO price band is set at ₹82 to ₹87 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹139,200. It will use funds to meet long term working capital needs.

SA Tech Software India

AI and software development firm, SA Tech Software India, is looking to raise ₹23.01 crore through a fresh issue of 39 lakh shares. It is open for subscription between July 26-30 and plans to list on NSE. The IPO price band is set at ₹56 to ₹59 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹118,000. It will use funds to partially repay its outstanding loans.

Clinitech Laboratories

Clinitech Laboratories is looking to raise ₹5.78 crore through a fresh issue of 6.02 lakh shares. It is open for subscription between July 25-29. The IPO price band is set at ₹96 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹115,200. It will list on BSE and will use funds to expand diagnostic centres and for general corporate purposes.