Upcoming IPOs: Manba Finance, KRN Heat Exchanger and 7 SME issues to open for subscription; check details

The first nine months of 2024 have remained an action-packed phase for the primary market as companies have raised over ₹61,000 crore through initial public offerings (IPOs) so far. Reports suggest that at least 22 companies have received the Securities Exchange Board of India’s approval to launch their public offers to cumulatively raise worth ₹15,530 crore.

The upcoming week, starting September 23, is set to be a busy period for the primary market, with nine initial public offerings (IPOs) opening for subscription. On the other hand, as many as 14 companies will make their D-street debut next week.

Manba Finance IPO (Opening date: September 23)

The initial public offer of Non-Banking Finance Company (NBFC) Manba Limited will open for subscription on Monday, September 23 and close on Wednesday, September 25. Manba Finance IPO is worth ₹150.84 crore and consists of a fresh issuance of 1.26 crore shares.

The price band for Manba Finance IPO has been fixed at ₹114 to ₹120 per share. Retail investors can bid for a minimum lot size of 125 shares, which aggregates to an investment of ₹15,000.

The share allotment status of Manba Finance IPO will be finalised on Thursday, September 26. Shares of Manba Finance IPO will list on the BSE and NSE. The tentative listing date is Monday, September 30.

KRN Heat Exchanger IPO (Opening date: September 25)

KRN Heat Exchanger IPO (KRN Heat Exchanger and Refrigeration Limited IPO) subscription window will remain open from September 25 to September 27.

KRN Heat Exchanger plans to raise ₹341.95 crore via its public issue. The IPO is entirely a fresh issue of 1.55 crore shares.

The company is a leading manufacturer of fin and tube-type heat exchangers, which are used in the domestic, commercial, and industrial heating, ventilation, air conditioning and refrigeration (HVAC&R) industry.

KRN Heat Exchanger will use the IPO proceeds to invest in the wholly-owned subsidiary, KRN HVAC Products to set up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and for general corporate purposes.

KRN Heat Exchanger IPO price band was fixed at ₹209 to ₹220 per share. Retail investors can apply for the public issue by placing bids for a minimum lot size of 65 shares, aggregating to an investment of ₹14,300.

The share allotment status of the KRN Heat Exchanger IPO is likely to be finalised on September 30. The company's shares will be listed on the BSE and NSE. The tentative listing date is October 3.

Rappid Valves India IPO (Opening date: September 23)

The Rappid Valves (India) IPO will open for subscription on September 23. The company is primarily engaged in the manufacturing of valve solutions. The subscription window will close on September 25. The company plans to raise ₹30.41 crore via its public issue, which consists of a fresh issue of 13.7 lakh shares.

Rappid Valves (India) IPO price band is set between ₹210 to ₹222 per share, with a lot size of 600 shares.

WOL 3D India IPO (Opening date: September 23)

WOL 3D India Limited IPO subscription window will remain open from September 23 to September 25. The 3D printing solutions provider offers various products used in sectors such as manufacturing, education, engineering, architecture, interior design, and others.

The company aims to raise ₹25.56 crore through a fresh issuance of 14.52 lakh shares aggregating ₹21.78 crore and an offer for sale of 2.52 lakh shares amounting to ₹3.78 crore. WOL 3D India Limited IPO price band is set between ₹142 to ₹150 per share, with a lot size of 1000 shares.

Thinking Hats Entertainment Solutions IPO (Opening date: September 25)

Thinking Hats Entertainment Solutions IPO will be open for subscription between 25 and 27 September. The company operates in the event management segment and produces OTT content for leading platforms such as Netflix, Amazon, Sony Liv, and others.

The company plans to raise ₹15.09 crore via its IPO, which consists of a completely fresh issue of 34.29 lakh shares. This IPO will list on October 3. Thinking Hats Entertainment Solutions IPO price band is set between ₹42 to ₹44 per share, with a lot size of 3000 shares.

Unilex Colours and Chemicals IPO (Opening date: September 25)

Unilex Colours and Chemicals IPO will launch on September 25. The pigments and food colours manufacturer plans to raise ₹31.32 crore through this public issue, which will close on September 27.

Unilex Colours and Chemicals IPO price band is set between ₹82 to ₹87 per share, with a lot size of 1600 shares.

TechEra Engineering IPO (Opening date: September 25)

TechEra Engineering's IPO will open for subscription on September 25 and close on September 27. The company plans to raise ₹35.9 crore through its public issue. TechEra Engineering's IPO price band is set between ₹75 to ₹82 per share, with a lot size of 1600 shares.

Techera Engineering designs, manufactures, and supplies precise tooling and components for the aerospace and defence industries. The company will use IPO proceeds to purchase new machinery, meet working capital requirements, and prepay its outstanding borrowings.

Sahasra Electronics Solutions IPO (Opening date: September 26)

Sahasra Electronics Solutions, which offers electronic system design solutions to its clients, plans to raise ₹186.16 crore through a public issue. The IPO will be open between 26 and 30 September, and its shares will be listed on October 4.

Sahasra Electronics Solutions IPO price band is set between ₹269 to ₹283 per share, with a lot size of 400 shares.

Divyadhan Recycling Industries IPO (Opening date: September 26)

Divyadhan Recycling Industries IPO consists of a fresh issue of 37.76 lakh shares. IPO opens for subscription on September 26 and is scheduled to close on September 30. The price band and lot size of the IPO have yet to be announced.

15 IPO listings scheduled next week

Western Carriers India, Northern Arc Capital, and Arkade Developers' shares are also scheduled to be listed on the BSE and NSE on September 24. These IPOs received an upbeat response from investors, with record subscriptions.

Besides mainboard IPOs, around 12 SME IPOs will make their market debut next week. Shares of Deccan Transcon, Pelatro, Osel Devices and Envirotech Systems are likely to be listed on the NSE SME platform on September 24. Kalana Ispat IPO, Avi Ansh Textile IPO, Phoenix Overseas IPO, SD Retail IPO and BikeWo GreenTech IPO are likely to list next week.