Upcoming IPOs this week: Om Power Transmission, 2 other issues to open, 1 listing scheduled

Upcoming IPOs: The week starting April 6 will see mainboard initial public offering (IPO) of Om Power Transmission open for subscription. Two others issues that will hit the primary market this week include the SME offer of Safety Controls & Devices and an investment trust (InvIT) IPO of Propshare Celestia.

Only one listing of electrical panels and automation systems manufacturer Vivid Electromech will occur on the SME platform of the NSE this week.

Om Power Transmission IPO

Om Power Transmission IPO, which is live from April 9 to April 13, is a mix of fresh issuance of shares valued at ₹132.56 crore and an offer for sale (OFS) of ₹17.50 crore by promoters Kalpesh Dhanjibhai Patel, Vasantkumar Narayanbhai Patel and Kanubhai Patel. The total issue size is ₹150.06 crore.

The money raised will be used to purchase machinery and equipment, debt repayment, working capital needs and general corporate purposes.

With a price band of ₹166 to ₹175 per share, a lot consists of 85 shares.

Om Power Transmission, incorporated in 2011, is a power transmission infrastructure EPC (engineering, procurement, and construction) company with over 14 years of experience.

Safety Controls & Devices IPO

The ₹48 crore initial public offering of EPC company Safety Controls & Devices will be live from April 6 to April 8. The company has set a price band of ₹75 to ₹80 per share.

The issue is only a fresh issue of 60 lakh shares, with no OFS component.

The net proceeds will be utilised for funding working capital requirements, repayment of certain outstanding borrowings and corporate general purposes.

"Our company expects to receive the benefits of listing of equity shares on the BSE SME platform, including enhancing our visibility and our brand image among our existing and potential customers and creating a public market for our equity shares in India," the company said in its red herring prospectus (RHP).

The application size for a lot consists of 1,600 shares. The least investment for an individual investor is two lots or 3,200 shares.

Safety Controls & Devices Ltd offers engineering, procurement and construction services, focusing on the installation of substations and firefighting equipment and the construction of solar plants.

Propshare Celestia IPO

Property Share Investment Trust, a small and medium real estate investment trust (SM REIT), will launch its ₹244.65 crore IPO of PropShare Celestia on April 10. The issue will end on April 16.

The initial share sale, with a price band of ₹10-₹10.50 lakh per unit, is exclusively a fresh issue of units, with no OFS component. The funds raised will be used for the acquisition of seven floors in Venus Stratum, a Grade A+ mixed-use commercial building located in Nehru Nagar, Ahmedabad.

The underlying asset, Project Celestia, has a super built-up area (SBUA) of 207,838 sq. ft and is fully occupied.