Upcoming IPOs: Arkade Developers, Northern Arc Capital to open for subscription; Bajaj Housing Finance to list next week

The primary market will witness yet another action-packed week between September 16 and September 20. Seven initial public offerings (IPOs), including two mainboard issues, are set to open for subscription next week.

Investors will also monitor the IPO market closely, as 13 new listings are scheduled for the week.

Arkade Developers Ltd and Northern Arc Capital Ltd will launch their IPOs next week to raise around ₹1,187 crore from public investors. Besides mainboard IPO, five SME IPOs will also hit the capital market next week to raise a total of ₹248 crore. Here are the key details of IPOs opening next week:

Arkade Developers IPO (IPO date: 16 to 19 September)

Arkade Developers Ltd is a Mumbai-based real estate developer. The company will launch its IPO on September 16 to raise around ₹410 crore from investors. The bidding will close on September 19. The company has fixed the price band at ₹121 to ₹128 per share. The minimum lot size for retail investors is 110 shares. The company has proposed to list shares on September 24. The stock will be listed on both the NSE and BSE.

Arkade Developers IPO is a fresh issue of 3.2 crore shares. Unistone Capital Pvt Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar.

The company proposes to use the net proceeds from the IPO to fund the costs incurred in developing the ongoing projects in Mumbai and neighbouring areas. It will also use IPO proceeds to fund the acquisition of yet-to-be-identified land for real estate projects and general corporate purposes.

Northern Arc Capital (IPO date: 16 to 19 September)

Diversified financial services platform Northern Arc Capital Ltd will launch its IPO on September 16 to raise a total of ₹777 crore from investors. The public offer comprises a fresh issue of 1.9 crore shares, worth ₹500 crore, and an offer-for-sale (OFS) of 1.05 crore shares, worth ₹277 crore

The company has fixed the price band at ₹249-263 per share. The minimum lot size is 57 shares. ICICI Securities Ltd, Axis Bank Ltd, and Citigroup Global Markets India Pvt Ltd are the book-running lead managers. Kfin Technologies Ltd is the registrar for the Northern Arc Capital IPO. The company has proposed to list shares on BSE and NSE on September 24.

Northern Arc Capital is a leading NBFC in areas such as micro, small, and medium enterprise financing, microfinance, consumer finance, vehicle finance, affordable housing finance, and agricultural finance.

The key objective of the IPO is to meet future capital requirements for onward lending. The company will use the IPO proceeds for MSME financing, Microfinance and Consumer finance.

Five SME IPOs to raise ₹248 crore next week

The initial public offerings of five small and medium enterprises (SMEs), including Pelatro Limited, Osel Devices Ltd and SD Retail Limited, will open for subscription next week to raise a total of ₹248 crore from investors.

The public offer of Pelatro Limited will open on September 16 on the NSE SME platform to raise ₹55.98 crore. The company has set the price band at ₹190 to ₹200 per share for the fresh issue of 27.99 lakh shares. The lot size is 600 shares.

Osel Devices Limited will also launch its IPO on September 16 to raise ₹70.66 crore through the NSE SME platform. The company has set the price band at ₹155 to ₹160 per share, with lot size of 800 shares.

Paramount Speciality Forgings Limited's IPO will open for subscription on September 17 on the NSE SME platform. The company seeks to raise ₹32.24 crore through this public issue. The IPO price band is ₹57 to ₹59 per share, with lot size of 2000 shares.

BikeWo GreenTech Limited will launch the IPO on September 18 to raise ₹24.09 crore through the NSE SME platform. SD Retail Limited IPO will hit the market on September 20 to raise ₹64.98 crore through the NSE SME platform.

Bajaj Housing Finance IPO listing next week

Shares of the much-anticipated Bajaj Housing Finance Limited will be listed on the NSE and BSE on September 16. Similarly, the listing date for mainboard issues of PN Gadgil Jewellers, Tolins Tyres, and Kross Limited has been scheduled for 16 and 17 September.

Apart from the mainboard issues, as many as 9 SME IPO listings are also scheduled between September 16 and September 20. Shares of Sodhani Academy, Trafiksol ITS Technologies and Share Samadhan Limited will be listed on the BSE SME platform. On the other hand, shares of Excellent Wires and Packaging, Innomet Advanced Materials, SPP Polymer, Aditya Ultra Steel, Shubhshree Biofuels Energy and Gajanand International are scheduled to be listed on the NSE SME platform.