Upcoming IPOs next week: No mainboard action, 4 SMEs issues to hit the market & 2 listings scheduled

Upcoming IPOs: No new initial public offering will launch in the mainboard segment next week, though four issues will open in the SME segment. They include NFP Sampoorna Foods, Teamtech Formwork Solutions, Harikanta Overseas and Vegorama Punjabi Angithi.

Listings that are scheduled to take place next week include RFBL Flexi Pack and Goldline Pharmaceutical.

NFP Sampoorna Foods IPO

The initial share sale of dry fruit distributor NFP Sampoorna Foods will be open for subscription from May 18 to May 20.

The issue is a completely fresh issuance of ₹24.53 crore, with no offer for sale (OFS) component.

The money raised will be used for working capital requirements, debt repayment and general corporate purposes.

The price band has been set at ₹52 to ₹55 per share. A lot consists of 2,000 shares. The minimum investment for an individual investor is 4,000 shares.

NFP Sampoorna Foods, incorporated in 2019, specialises in processing and distributing premium dry fruits, especially cashew nuts. It mainly procures raw cashews by importing them from Africa.

Teamtech Formwork Solutions IPO

Teamtech Formwork Solutions IPO, with a price band of ₹61 to ₹63 per share, is solely a fresh issuance of ₹50.15 crore. It is open from May 19 to May 21.

The objectives of the issue include capital expenditure towards the purchase of plant and machinery, debt repayment, working capital requirements and general corporate purposes.

The company manufactures, refurbishes and rents modular T-formwork and customised formwork systems for the construction industry.

Harikanta Overseas IPO

The initial public offering of Harikanta Overseas will open on May 20 and conclude on May 22. The issue is exclusively a fresh issue of ₹25.63 crore.

The company proposes to utilise net proceeds for capital expenditure for factory premises, purchase of machinery, working capital needs and general corporate purposes.

The price range has been fixed at ₹91 to ₹96 per share and a lot size consists of 1,200 shares. Individual investors can apply for at least two lots or 2,400 shares.

Harikanta Overseas makes synthetic textile fabrics, and its product range includes Ikat fabrics, saree fabrics, polyester garment fabrics, poly linen, dhupion fabrics and natural fibre fabrics.

Vegorama Punjabi Angithi IPO

Restaurant operator Vegorama Punjabi Angithi Ltd has announced a price band of ₹73 to ₹77 per equity share for its initial public offering, which opens for subscription on May 20. The issue will close on May 22.

The ₹38.30-crore IPO comprises a fresh issue of ₹30.70 crore and an OFS of ₹7.68 crore by promoter Deepak Chadha.

The money raised will be used for capital expenditure requirements and general corporate purposes.

Vegorama Punjabi Angithi is involved in the food and beverage industry, operating a restaurant chain under the 'Punjabi Angithi' brand.