Upcoming IPOs: No mainboard openings, Gabion Technologies among 3 SME issues to launch next week

Upcoming IPOs: Three SME initial public offerings of Gabion Technologies, Yajur Fibres and Victory Electric Vehicles International will open for subscription next week. In the January 5 week, no mainboard issue will hit the primary market.

Only one listing of the Modern Diagnostic and Research Centre IPO will take place next week.

Gabion Technologies IPO

The ₹29.16 crore Gabion Technologies IPO, which is live from January 6 to January 8, is a fresh issue of 36,00,000 equity shares, with no offer for sale (OFS) component, according to the red herring prospectus (RHP). It has set a price band of ₹76 to ₹81 per share.

The fresh issue proceeds will be used for working capital requirements, capital expenditure for purchasing machinery and plant and general corporate purposes.

A lot consists of 1,600 shares. The least investment for an individual investor is 3,200 shares.

The company is engaged in the manufacturing, designing, trading and installation of gabions, rockfall protection nettings and geosynthetic materials.

Victory Electric Vehicles International IPO

Electric vehicle maker Victory Electric Vehicles International's initial public offering will be open for subscription from January 7 to January 9.

The company seeks to raise ₹34.56 crore only via the issuance of new equity shares. The funds generated will be used for capital expenditure requirements, working capital needs and general corporate expenses.

The IPO price is fixed at ₹41 per share, and a lot consists of 3,000 shares. Individual investors can apply for at least 6,000 shares.

Victory Electric Vehicles International manufacturers electric vehicles ranging from e-rickshaws and e-cargo/loader e-rickshaws, scooters, etc.

Yajur Fibres IPO

Yajur Fibres' initial share sale will open on January 7. The issue, which has set a price range of ₹168 to ₹174 per share, will conclude on January 9.

The ₹120.41 crore IPO is exclusively a fresh issuance of 69,20,000 equity shares. The money raised will be used for setting up 50,000 square feet of shed in the existing manufacturing facility and installation of additional production capacity, investment in a subsidiary, working capital needs and corporate general purposes.

A lot consists of 800 shares. The application size for individual investors is 1,600 shares.

Yajur Fibres specialises in processing and producing premium bast fibres such as flax (linen), jute, and hemp. It cottonises long, brittle bast fibres into short, cotton-like fibres that blend with cotton and man-made fibres.