Upcoming IPOs: Active Infrastructures and Rapid Fleet Management among five SME IPOs to open for subscription

After a brief period of dullness that saw limited initial public offerings (IPOs) being launched in the market, the coming week will witness the launch of as many as five new SME (small and medium enterprises) issues.

The new IPOs are expected to see renewed demand as the recent bounce-back in the broader equity markets could revive investor sentiment. The benchmark equity indices SENSEX and NIFTY advanced for a fourth straight session on Thursday, March 20, rising a cumulative 3% during this period.

If you are considering investing in these upcoming SME issues, here’s a detailed look at each of the SME IPOs scheduled to open for subscription between March 21 and March 25.

March 21: Two SME IPOs will open for subscription

Rapid Fleet Management Services and Active Infrastructures IPO will open for subscription on Friday, March 21. The subscription window for these two NSE SME issues will close on Tuesday, March 25.

The price band for the IPO has been set at ₹183 to ₹192 per share. The lot size, or the minimum bid quantity for an application, is 600 shares.

After the close of bidding in both these IPOs on March 25, the allotment of shares is expected to be finalised on March 26. Shares of both companies are scheduled to be listed on the NSE Emerge platform on March 28.

Desco Infratech IPO opens on 24 March

The SME IPO of Desco Infratech IPO will open for subscription on March 24. The BSE SME issue will close on March 26.

Established in 2011, Desco Infratech is an infrastructure company focused on engineering, planning and construction, particularly in the city gas distribution, renewable energy, water and power sectors.

The Desco Infratech IPO is a book-built issue aimed at raising ₹30.75 crore. It is entirely a fresh issuance of 20.5 lakh shares. The price band for the IPO has been fixed at ₹147 to ₹150 per share, while the lot size per application is 1,000 units.

The company is scheduled to finalise the IPO share allotment status on March 27. Desco Infratech shares are scheduled to be listed on the BSE SME platform on April 1.

March 25: Two SME IPOs will open for subscription

Two more SMEs – Shri Ahimsa Naturals Ltd and ATC Energies System Ltd – will launch their IPOs on March 25. Bidding in both the issues will close on March 27.

The company is planning to raise ₹73.81 crore through its 100% book-built issue. The IPO is a combination of a fresh issuance of 42.04 lakh shares, aggregating to ₹50.02 crore, and an offer-for-sale of 19.99 lakh shares, amounting to ₹23.79 crore.

The IPO price band has been set at ₹113 to ₹119 per share, while the lot size for an application is 1,200 shares.

After the close of bidding in both these IPOs on March 27, the allotment of shares is expected to be finalised on March 28. Shares of both companies are scheduled to be listed on the NSE Emerge platform on April 2.