Upcoming IPOs: Enviro Infra Engineers opens for subscription tomorrow, 7 SME public issues to launch soon; check details

Indian primary markets have witnessed record-breaking fundraising activities in 2024. Companies raised as much as ₹1.19 lakh crore ($14 billion) in the first 11 months of 2024, surpassing the previous record of ₹1.18 lakh crore set in 2021. The year also saw Hyundai Motor Limited raising ₹27,870.16 crore through its public issue, the biggest fundraising via an IPO so far.

After a stellar run so far in 2024, the primary markets still have steam left as many new companies are gearing up to tap the booming IPO space.

Saatvik Green Energy Limited, Borana Weaves Limited and ArisInfra Solutions Limited have received approval from market regulator the Securities and Exchange Board of India (SEBI) to float their initial public offers.

Meanwhile, CIEL HR Services filed its draft red herring prospectus (DRHP) with SEBI on November 21. The recruitment and staffing services provider aims to raise ₹335 crore from a fresh issue of shares and an offer for sale (OFS) component of up to 47,39,336 equity shares. The company's promoters will participate in the OFS and offload a portion of their stake.

Belrise Industries Limited also filed its papers with the markets regulator to raise ₹2,150 crore through IPO. The public offer is likely to be entirely a fresh issue of shares. However, the company may consider raising ₹430 crore through a pre-IPO placement. Belrise Industries manufactures automotive components and provides engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.

Lamosaic India IPO (Closes on Nov 26)

The initial public offer of Lamosaic India opened for subscription on Thursday, November 21. According to NSE data, the NSE SME issue received bids for only 58,800 shares until 2:30 PM on the first day.

The IPO subscription will close on Tuesday, November 26. Lamosaic India IPO is worth ₹61.2 crore and consists of a fresh issuance of 30.6 lakh shares.

Lamosaic India IPO’s issue price has been fixed at ₹200 per share. Retail investors can bid for a minimum lot size of 125 shares, which aggregates to an investment of ₹1,20,000.

The share allotment status of Lamosaic India IPO will be finalised on Wednesday, November 27. Shares of Lamosaic India IPO will be listed on the NSE SME platform, Emerge. The tentative IPO listing date is Friday, November 29.

Enviro Infra Engineers IPO (Issue open on 22 Nov)

Enviro Infra Engineers Limited IPO subscription window will remain open from November 22 to November 26.

Enviro Infra Engineers plans to raise ₹650.43 crore via its public issue. The IPO consists of a fresh issuance of 3.87 crore shares aimed at raising ₹572.46 crore and an offer for sale of 53 lakh shares amounting to ₹77.97 crore.

Enviro Infra Engineers IPO price band was fixed at ₹140 to ₹148 per share. Retail investors can apply for the public issue by placing bids for a minimum lot size of 101 shares, aggregating to an investment of ₹14,948.

The share allotment status of Enviro Infra Engineers’ public issue is likely to be finalised on November 27. Shares of the company will list on the BSE and NSE. The tentative listing date is Friday, November 29.

C2C Advanced Systems IPO (Issue open on 22 Nov)

C2C Advanced Systems IPO (C2C Advanced Systems Limited IPO) subscription window will remain open from November 22 to November 26.

C2C Advanced Systems plans to raise ₹99.07 crore via its public issue. C2C Advanced Systems IPO consists of a fresh issuance of 43.84 lakh shares.

The C2C Advanced Systems IPO price band was fixed at ₹214 to ₹226 per share. The company's shares will be listed on the NSE SME platform. The tentative listing date has been fixed as November 29.

Rajesh Power Services IPO (Issue open on 25 Nov)

Rajesh Power Services IPO bidding window will remain open from November 25 to November 27.

Rajesh Power Services IPO is worth ₹160.47 crore. The public issue comprises a fresh issue of 27.9 lakh shares amounting to ₹93.47 crore and an offer-for-sale of 20 lakh shares aggregating to ₹67 crore.

Rajesh Power Services IPO price band has been fixed at ₹319 to ₹335 per share. Shares of the company will list on the BSE SME platform. The tentative listing date is December 2.

Rajputana Biodiesel IPO (Issue open on 26 Nov)

Rajputana Biodiesel IPO’s bidding window will remain open from November 26 to November 28.

Rajputana Biodiesel Limited aims to raise ₹24.7 crore via its public issue.The SME issue consist of a completely fresh issue of 19 lakh shares. Rajputana Biodiesel IPO price band has been fixed at ₹123 to ₹130 per share.

Shares of Rajputana Biodiesel Limited will tentatively be listed on the NSE SME platform on December 3.

Abha Power and Steel IPO (Issue open on 27 Nov)

Abha Power and Steel IPO will remain open for subscription from November 27 to November 29.

Abha Power and Steel IPO is worth ₹38.54 crore and consists of a fresh issuance of 41.39 lakh shares amounting to ₹31.04 crore and an offer for sale of 10 lakh shares amounting to ₹7.5 crore. The issue price has been fixed at ₹75 apiece.

The company's shares will be listed on the NSE SME platform. The tentative listing date has been fixed at December 4.

Apex Ecotech IPO (Issue open on 27 Nov)

Apex Ecotech IPO will open on November 27. The subscription window is scheduled to close on November 29. Apex Ecotech plans to raise ₹25.54 crore via its public issue. Apex Ecotech IPO consists of a fresh issue of 34.99 lakh shares.

Apex Ecotech IPO price band was set at ₹71 to ₹73 per share. The tentative listing date has been fixed as December 4. The company's shares will be listed on the NSE SME platform.

Agarwal Toughened Glass India IPO (Issue open on 28 Nov)

Agarwal Toughened Glass India IPO subscription window will remain open from November 28 to December 2. Agarwal Toughened Glass India aims to raise ₹62.64 crore via its public issue through a fresh issue of 58 lakh shares.

Agarwal Toughened Glass India IPO price band has been fixed at ₹105 to ₹108 apiece. Shares of the company will be listed on the NSE SME platform. The tentative listing date has been fixed as December 5.

Ganesh Infraworld IPO (Issue open on 29 Nov)

Ganesh Infraworld IPO (Ganesh Infraworld Limited IPO) subscription window will remain open from November 29 to December 3. Ganesh Infraworld plans to raise ₹98.58 crore via its public issue. Ganesh Infraworld IPO consists of a fresh issuance of 118.77 lakh shares. Ganesh Infraworld IPO price band has been fixed at ₹78 to ₹83 per share.

Shares of the company will be listed on the NSE SME platform. The tentative listing date for the SME issue is December 06.

3 companies receive SEBI nod for floating IPOs

Three companies namely Saatvik Green Energy Limited, Borana Weaves and ArisInfra Solutions received SEBI’s nod to float their public issues.

Saatvik Green Energy IPO is worth ₹1,150 crore and consists of a fresh issuance of fresh issue of shares worth ₹850 crore and an offer for sale (OFS) of ₹300 crore. The book running lead managers for the issue include Dam Capital Advisors, Ambit, and Motilal Oswal Investment Advisors.

Borana Weaves IPO consists of a fresh issue of 70 lakh equity shares. The company filled its preliminary papers with the capital markets regulator SEBI on November 18.

The SEBI approved Arisinfra Solutions’ IPO on November 18. The company plans to raise up to ₹600 crore through a fresh issue of shares, as per the draft red herring prospectus. ArisInfra Solutions is a Mumbai-based business-to-business (B2B) company leveraging technology to streamline and digitise the procurement of construction materials.

Major IPO activity in upcoming weeks

Shares of mainboard companies such as NTPC Green Energy Ltd and Enviro Infra Engineers Ltd are scheduled to debut on the NSE and BSE in the upcoming days. NTPC Green Energy shares will be listed on the stock exchanges on November 27.

Zinka Logistics Solution, which operates the BlackBuck app for truckers, is expected to make the market debut on November 21. Shares of Enviro Infra Engineers Limited will debut on the NSE and BSE on November 29. C2C Advanced Systems Ltd shares are also likely to list on the NSE SME platform Emerge on November 29.