Upcoming IPOs: Ola Electric, Akums Drugs, Ceigall India to open for subscription this week; check key details

The much-anticipated public offer of Ola Electric Mobility Ltd. and two other mainboard public issues will open for subscription this week. Together, these companies plan to raise around ₹9,255 crore from the primary market.

In addition to the mainboard IPOs, eight SME issues will be launched during the week of July 29 and August 2 to raise around ₹364 crore from investors.

Ola Electric IPO (Issue size: ₹6,145.5 cr)

The ₹6,145.56-crore IPO of Ola Electric Mobility Ltd will open for subscription on August 2 and close on August 6. The leading electric scooter maker has fixed the price band at ₹72 per share to ₹76 per share.

The IPO, which is the first mainboard public offer by any electric two-wheeler maker, comprises a fresh issue of 72.37 crore shares worth up to ₹5,500 crore and an Offer for Sale of 8.49 crore shares worth up to ₹645.56 crore by existing shareholders. Founder Bhavish Aggarwal is selling shares worth ₹645 crore, according to reports.

The company will finalise share allotment on August 7, 2024, and the shares will be listed on the BSE and NSE stock exchanges on August 9.

Ceigall India Limited (Issue size: ₹1,252.6 cr)

Infrastructure construction company Ceigall India Ltd will launch its initial public offering (IPO) on August 1, 2024, (Wednesday) to raise a total of ₹1,252.66 crore from investors.

The IPO will close for subscription on August 5. The company has fixed the price band at ₹380 to ₹401 per share. The public offer comprises a fresh issue of 1.71 crore shares worth up to ₹684.25 crore and an Offer for Sale of 1.42 crore shares worth up to ₹568.41 crore.

The company will finalise the share allotment status on August 6. Shares will be listed on NSE and BSE on August 8.

Ceigall India is an engineering, procurement, and construction (EPC) company that specialises in constructing structural works such as elevated roads, bridges, flyovers, Railway over bridges (ROB), tunnels, expressways, and runways.

Akums Drugs and Pharmaceuticals Limited (Issue size: ₹1,856.7 cr)

Akums Drugs and Pharmaceuticals will launch its public offer on July 30, 2024, to raise around ₹1,856.74 crore from investors. The mainboard public issue will close for bidding on August 1, 2024.

The company has fixed the price band at ₹646 per share to ₹679 per share for the IPO. The public offer comprises a fresh issue of 1 crore shares worth up to ₹680 crore and an Offer for Sale of 1.73 crore shares worth up to ₹1,176.74 crore.

The company will finalise the share allotment on August 2. Shares will be listed in the BSE and NSE, with a tentative listing date set for August 6.

Akum is a pharmaceutical contract development and manufacturing company. It also manufactures nutraceuticals, APIs, cosmetics, and dermatology products. Akum has launched a new DCGI-approved medication for treating resistant hypertension.

10 SME IPOs to make exchange debut this week

As many as 10 IPOs will make their stock market debut this week. All these are SME IPOs that closed for subscription in the last week or are closing this week. Of these, two IPOs – VVIP Infratech Limited (Jul 30) and Clinitech Laboratory Limited (Aug 1) – will be listed on the BSE SME platform. The remaining 8 public offers will be listed on the NSE SME platform, Emerge.

RNFI Services Limited shares were listed on the NSE SME platform on Monday at a 90% premium at ₹199.50 against the issue price of ₹105 per share.

VL Infraprojects Limited (Jul 30), Manglam Infra and Engineering Limited (Jul 31), Chetana Education Limited (Jul 31) Trom Industries Limited (Aug 1), Clinitech Laboratory Limited (Aug 1), Aprameya Engineering Limited (Aug 1), S A Tech Software India (Aug 2), Esprit Stones Limited (Aug 2) will also make debut on the NSE SME platform this week.