Upcoming IPOs next week: Kusumgar, Happy Steels, Devson Catalyst issues to open, 10 listings scheduled

Upcoming IPOs: The week starting July 5 will a mainboard initial public offering of Kusumgar open for subscription. SME issues that will hit the primary market include Happy Steels and Devson Catalyst.

Listings scheduled for next week include Aastha Spintex, Knack Packaging, Adon Agro Commodities, Teja Engineering Industries, Kratikal Tech, Vinit Mobile, Atharva Polyplast, Seemax Resources, Sampark India Logistics and IC Electricals.

Kusumgar IPO

The ₹650 crore book-built issue of engineered fabric and technical textile maker Kusumgar Ltd will be open from July 8 to July 10.

It is solely an offer for sale of 1.55 crore shares by promoters Siddharth Yogesh Kusumgar, Siddharth Yogesh Kusumgar HUF and Sapna Siddharth Kusumgar.

"Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders. Listing will also provide a public market for the equity shares in India," the Mumbai-based company said in its red herring prospectus (RHP).

With a price band of ₹398 to ₹419 per share, a lot consists of 35 shares.

Kusumgar Ltd manufactures woven, coated and laminated synthetic fabrics, called engineered fabrics. Its products are used in industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.

Devson Catalyst IPO

Industrial catalysts and adsorbents manufacturer Devson Catalyst is looking to raise ₹42.34 crore through its initial share sale. It will be live from July 9 to July 13.

The IPO, with a price range of ₹112 to ₹118 per share, is a combination of fresh issuance of ₹39.39 crore and an OFS of ₹2.95 crore by promoters Prahladbhai Devjibhai Shiyaniya, Pratapbhai Devjibhai Siyania, Patel Savan Prahladbhai, Patel Krishna Savanbhai, Gayatriben Patel and Shiyania Gitaben P.

The funds raised will be used for capital expenditure needs towards establishing a new manufacturing unit, working capital requirements and general corporate purposes.

A lot consists of 1,200 shares. The minimum investment for an individual investor is two lots or 2,400 shares.

Happy Steels IPO

The public offer of Happy Steel, an integrated maker of safety-critical, forged, and machined transmission and driveline components, will open on July 9 and conclude on July 13. The price band has been set at ₹62 to ₹66 per share.

The ₹25 crore issue is exclusively a fresh issuance of 38,50,000 shares. The money generated will be used for capital expenditure requirements towards the purchase of additional plant and machinery, debt repayment and corporate general purposes.

A lot consists of 2,000 shares. The least investment for an individual investor is 4,000 shares.