Upcoming IPOs: 3 SME issues to open this week, CMR Green Tech, Hexagon Nutrition, 5 other listings scheduled

Upcoming IPOs: This week will see no mainboard initial public offerings open for subscription. SME issues that will hit the primary market include Utkal Speciality Industries India, Susan Electricals and Horizon Reclaim (India).

Utkal Speciality Industries India IPO

The paper-based products and packaging materials maker plans to raise up to ₹34.54 crore through its IPO.

The issue, which is live from June 10 to June 12, is entirely a fresh issue of 52.34 lakh equity shares and has been priced in the range of ₹62-₹66 per share.

The company's shares will be listed on the NSE Emerge platform.

The proceeds will be used for repayment of borrowings, working capital requirements, capital expenditure requirements towards the purchase of machinery, general corporate purposes and to meet offer expenses.

Utkal Speciality Industries India manufactures paper-based products and packaging materials, providing an array of items that serve both functional and aesthetic requirements across various consumer segments.

Susan Electricals India IPO

Susan Electricals India IPO is open for public subscription from June 11 to June 15. The company has set a price band of ₹120 to ₹127 per equity share.

The ₹70.38 crore initial share sale consists of a fresh issuance of ₹60.22 crore and an offer for sale of ₹10.16 crore by promoter Vishal Jain.

The money raised will be used for capital expenditure towards expansion of the existing manufacturing unit, working capital needs and corporate general purposes.

Incorporated in 2007, Susan Electricals manufactures aluminium and copper-based electrical winding wires, cables and conductors in various specifications, sizes and configurations.

Horizon Reclaim India IPO

Horizon Reclaim (India) seeks to raise ₹54.27 crore via fresh issuance of 52.69 lakh shares. The issue, which is open for June 12 to June 16, has set a price band of ₹98 to ₹103 per share.

The funds raised will be used for working capital needs, repayment of certain outstanding borrowings, capital expenditure for installation of additional plant & machinery and general corporate purposes.

The company makes reclaimed rubber, which is recycled rubber derived from used rubber materials like old tyres, tread peelings, rubber tubes and industrial scrap.