Upcoming IPOs next week: 9 issues to open; SFC Environmental, EAAA India Alternatives IPO in focus; Jio Platforms to list

At least nine initial public offerings will open for subscription next week. They include five mainboard IPOs of EAAA India Alternatives, BLS Polymers, SFC Environmental Technologies, MK Sons Fine Jewels and Bombay Coated & Special Steels. SME issues that will go live include Wiscon Industries, Ajwa Projects, Antala Industries and Carver Roboweld.

EAAA India Alternatives IPO

Alternative investment management platform EAAA India Alternatives will launch its ₹1,200 crore initial share sale on October 26. The issue, with a price band of ₹1,585 to ₹1,665 per share, will end on October 28.

The IPO is solely an offer for sale (OFS) of 72.07 lakh shares by promoter Edelweiss Securities and Investments Pvt Ltd.

"Our company expects that listing of the equity shares will enhance our visibility and brand image as well as provide liquidity and a public market for the equity shares in India," the company said in its red herring prospectus (RHP).

A lot consists of nine shares and is in multiples thereafter.

EAAA India Alternatives is an alternative investment management platform, with a focus on India’s real assets and private credit markets.

BLS Polymers IPO

The ₹255 crore BLS Polymers IPO, which is entirely a fresh issue of 1.70 crore shares, is open from October 27 to October 29.

The objectives of the issue include capital expenditure needs towards expansion of the existing manufacturing unit at Goa, working capital needs and general corporate purposes.

With a price band of ₹142 to ₹150 per share, retail investors can apply for at least one lot or 100 shares and in multiples thereafter.

BLS Polymers makes specialised polymer compounds utilised in cables, wires and underground pipelines. Its products include MDPE, HDPE, LLDPE, XLPE, HFFR, PVC, cable filling compounds and adhesive coating compounds, serving to industries like power, telecommunications, water, railways, and oil and gas.

SFC Environmental Technologies IPO

Wastewater treatment solution provider SFC Environmental Technologies Ltd's ₹668 crore IPO will open for subscription on October 27. It has set a price band of ₹313 to ₹330 per share.

It is a mix of a fresh issue of shares aggregating to ₹150 crore and an OFS of up to 1.57 crore shares by promoters and existing shareholders.

The funds raised will be utilised for debt clearance and working capital needs.

The issue will conclude on October 29, and anchor investor bidding will take place on October 26.

MK Sons Fine Jewels IPO

MK Sons Fine Jewels, which is engaged in the retail sale of gold, diamond, and CZ jewellery, will launch its ₹330.48 crore offer on October 28. The issue will end on October 30.

The initial share sale consists of a fresh issuance of 1.70 crore shares totalling ₹275.40 crore and an OFS of ₹55.08 crore by promoter Ramchand Murlidhar Raimalani.

The company proposes to utilise the net proceeds towards funding of inventory costs towards establishing 1 new showroom in Maharashtra and expansion of existing showroom in Gujarat, debt clearance and general corporate purposes.

The lot size for an application is 91 equity shares.

Bombay Coated and Special Steels IPO

Bombay Coated and Special Steels said its ₹183.1-crore issue will hit the primary market on October 29, with a price band of ₹78 to ₹82 per share. A lot consists of 182 shares.

The IPO, which is exclusively a fresh issue of 2.23 crore equity shares, will end on November 2, the company said in a statement.

Proceeds of the fresh issue to the tune of ₹125 crore have been earmarked for debt clearance, while ₹15.7 crore will be utilised to finance the cost of acquiring capital equipment under existing lease deal with Siemens Financial Services. The rest will be used for general corporate purposes.

Bombay Coated and Special Steels, incorporated in 2019, is a steel processing centre that converts steel coils into value-added products through operations like slitting, shearing, cut-to-length processing and embossing.