Upcoming IPOs this week: No mainboard action, 5 SME issues to hit primary market & 3 listings scheduled

Upcoming IPOs: No mainboard initial public offering will open for subscription this week. However, five SME issues will hit the primary market. They are Clay Craft India, Diksha Polymers, Liotech Industries, Leapfrog Engineering Services and Avience Biomedicals.

Listings that are scheduled for this week include Utkal Speciality, Susan Electricals India and Horizon Reclaim India.

Clay Craft India IPO

Ceramic tableware and crockery manufacturer Clay Craft India's ₹110.11 crore IPO will open for subscription on June 17. The issue will conclude on June 19.

The initial share sale, with a price band of ₹193 to ₹203 per share, is only a fresh issuance of 54.24 lakh shares.

The money raised will be used to fund capital expenditure towards setting up an additional manufacturing facility at Rajasthan's Manda and general corporate purposes.

Diksha Polymers IPO

The initial public offering of Diksha Polymers will be live from June 17 to June 19. Its IPO price is ₹112 per share.

The company seeks to raise ₹17.90 crore via fresh issuance of shares. The net proceeds will be utilised for repayment of certain outstanding borrowings and corporate general purposes.

Diksha Polymers manufactures PET bottles/containers and PET preforms. PET containers are used for storing oils, beverages and related products, while PET preform is a raw material for PET containers.

Liotech Industries IPO

The ₹36.02 crore IPO of Liotech Industries, a manufacturer of hardware structures and accessories, is a mix of a fresh issuance of ₹28.89 crore and an OFS component of ₹7.13 crore by promoters Pushpaben Mansukhbhai Bhuva and Mansukhbhai Kadvabhai Bhuva. The issue, which is open from June 17 to June 19, is fixed-price at ₹321 per share.

The net issue proceeds will be used for acquiring machinery, loan repayment, working capital requirements and general corporate purposes.

Leapfrog Engineering Services IPO

Leapfrog Engineering Services seeks to raise ₹88.51 crore via its inital share sale. It consists of a fresh issuance of ₹79.60 crore and an OFS of ₹8.91 crore by promoter Prabhav Narasimha Rao. It will be open for subscription from June 17 to June 19.

The objects of the issue include funding capital expenditure for establishing an assembly unit, working capital needs and general corporate purposes.

Leapfrog Engineering Services is involved in engineering, procurement, construction, and commissioning (EPCC) with a specialised focus on electrical, fire safety, instrumentation, modular substations, and automation systems.

Avience Biomedicals IPO

The initial share sale of molecular diagnostic kits manufacturer Avience Biomedicals will be open from June 18 to June 22. The price band has not been announced yet.

The issue is entirely a fresh issuance of 14.53 lakh shares.

The net proceeds from the issue will be used to partly finance the capital expenditure towards establishing a new manufacturing unit, funding working capital needs and general corporate purposes.