Upcoming IPOs: Infonative Solutions, 2 other SME issues to open on March 28; check details

Upcoming IPOs: The public offers of Aten Papers & Foam, Spinaroo Commercial, and Infonative Solutions will open for subscription on Friday, March 28.

The three initial share sales will be listed on the BSE SME platform.

Infonative Solutions IPO

The proceeds generated will be used to meet expenses for the development of new products, working capital needs, and general corporate purposes.

A lot consisting of 1,600 shares will cost ₹1,26,400 at the upper price band.

The company is engaged in developing and designing e-learning content and services, including offering cloud-based learning management system (LMS).

Spinaroo Commercial IPO

The initial public offering of Spinaroo Commercial is a fixed-price issue at ₹51 per share. It is a completely fresh issuance of 19.94 lakh shares aggregating to ₹10.17 crore.

The net proceeds from the issue will be used to meet working capital needs and corporate general purposes.

Retail investors can apply for a minimum of 2,000 shares worth ₹1,02,000.

Finshore Management Services Ltd is the IPO's book-running lead manager, while the registrar is Cameo Corporate Services Ltd.

Spinaroo Commercial manufactures aluminium foil containers, paper cups, aluminium home foil, paper bowls, paper plates, and semi-processed materials for paper cups.

Aten Papers & Foam IPO

The objectives of the issue are to meet capital expenditure, working capital needs, and general corporate purposes.

Aten Papers & Foam is a key intermediary in the paper product supply chain. It sources paper from numerous mills and supplies it to customers in the packaging industry.