Upcoming IPOs this week: Indo-MIM, Lohia Corp, Xtranet Tech, 5 other issues to open; SBI Mutual Fund listing scheduled

The primary market is set for a busy week as eight initial public offerings will open for subscription this week. They include four mainboard offers of InvIT Cube Highways Trust, Indo MIM, Lohia Corp and Xtranet Technologies. SME issues that will open for subscription include Gulf Lloyds (India), Metalic Technoforge, Shree Balaji (Mala) Textiles and Silverstorm Parks & Resorts.

Listings that are scheduled for this week include SBI Funds Management, Alpine Texworld, Caliber Mining, Millworks Technologies and Sotefin Bharat.

Cube Highways Trust InvIT

Cube Highways Trust will launch its InvIT public issue on July 22 and end on July 24. The price band has been set at ₹151-₹152 per unit.

The ₹5,000-crore issue is a 100% book-built offer for sale (OFS) by existing unitholders as the trust transitions from a privately listed InvIT to a publicly listed platform.

Prior to the public issue, Cube Highways Trust raised ₹1,250 crore from strategic investors via unit subscription agreements.

Indo MIM IPO

Precision engineering components maker Indo MIM's IPO consists of a fresh issuance of shares valued at ₹499.10 crore and an OFS of 6.82 crore equity shares worth ₹3,311.21 crore by existing shareholders. It is live from July 23 to July 27.

The company will use fresh issue proceeds totalling ₹400 crore to repay borrowings, while the remaining funds will be utilised for corporate general purposes.

With a price band of ₹461 to ₹485 per share, a lot consists of 30 shares.

Indo MIM Ltd, founded in 1996, operates 15 manufacturing units across India, the United States, the United Kingdom and Mexico, serving the automotive, medical, defence, consumer and aerospace sectors.

Lohia Corp IPO

The initial share sale of Lohia Corp, which makes machinery and equipment for technical textiles, is solely an OFS of ₹1,101.28 crore, with the company not receiving any proceeds from the issue. The IPO is open from July 23 to July 27.

The company has set a price band of ₹404 to ₹425 per share. The lot size for an application is 35 equity shares.

Lohia Corp manufactures machinery and equipment utilised to produce technical textiles, particularly high-density polyethylene (HDPE) and polypropylene (PP) woven fabrics and sacks.

Xtranet Technologies IPO

IT services and solutions provider Xtranet Technologies' ₹166.80 crore initial public offering is live from July 23 to July 27.

It is entirely a fresh issuance of 1.31 crore shares, with no OFS component. With a price band of 120 to ₹127 per share, a lot consists of 110 shares.

The net proceeds from the issue will be utilised for debt repayment, working capital requirements, purchase of systems and hardware and general corporate purposes.

Founded in 2002, the company is an integrated information technology solutions provider, offering end-to-end services like enterprise applications, digital transformation, managed services, strategic technology partnerships and proprietary platforms.