Upcoming IPOs this week: No mainboard action, 2 SMEs and 1 REIT to hit the market

Upcoming IPOs: The week starting May 4 will see no mainboard initial public offering (IPO) open for subscription. However, two SME issues of Value 360 Communications and Recode Studios and a Real Estate Investment Trust (REIT) IPO of Bagmane Prime Office will hit the primary market.

Shares of OnEMI Technology and Amba Auto Sales & Services will make their stock market debut this week.

Value 360 Communications IPO

The initial public offering of integrated marketing and PR solutions provider Value 360 Communications is live from May 4 to May 6. The price band has been fixed at ₹95 to ₹98 per share.

The initial share sale is a fresh issuance of shares valued at ₹37.53 crore and an offer for sale (OFS) of ₹4.16 crore by promoter Gaurav Patra.

The funds generated will be utilised for working capital requirements, debt repayment, capital expenditure purposes, investing in influencer marketing platform and general corporate purposes.

A lot consists of 1,200 shares. The minimum investment for an individual investor is two lots or 2,400 shares.

Value 360 Communications, incorporated in 2009, is a provider of integrated marketing and PR solutions, offering a wide range of strategic communication services, including crisis communication, investor relations, reputation management, end-to-end campaign management and digital PR solutions.

Recode Studios IPO

The ₹44.59 crore IPO of beauty and personal care player Recode Studios is open from May 5 to May 7. The price range has been fixed at ₹150 to ₹158 per share.

The issue is a mix of new shares valued at ₹39.55 crore and an OFS of ₹5.04 crore by promoters Preeti Trehan, Rahul Sachdeva and Karan Bansal.

The net proceeds from the issue will be used for marketing and advertisement, working capital requirements and corporate general purposes.

The lot size for an application is 800 shares. Individual investors can apply for two lots or 1,600 shares.

Recode Studios operates in the beauty, cosmetics and personal care segment. It operates through an omnichannel distribution network, comprising company-owned company-operated (COCO) retail stores, franchisee-owned franchisee-operated (FOFO) stores, third-party e-commerce platforms and its proprietary website and mobile application.

Bagmane Prime Office REIT

Blackstone-backed Bagmane Prime Office REIT has set a price band of ₹95 to ₹100 per unit for its ₹3,405-crore IPO, which will open for subscription on May 5. The issue will conclude on May 7.

The proposed IPO of Bengaluru-based real estate investment trust (REIT) that owns and develops Grade A+ office assets is a mix of a fresh issue of units worth up to ₹2,390 crore and an OFS of units aggregating up to ₹1,015 crore by the selling unitholder.

Proceeds will be utilised to acquire Luxor at Bagmane Capital Tech Park (spanning one million sq ft) and part-fund the acquisition of a 93% stake in Bagmane Rio, which owns the 1.1 million sq ft Bagmane Rio Business Park.

Bagmane Prime Office REIT's portfolio consists of six premium grade A+ business parks spanning 20.3 million square feet, located in key micro-markets of Bengaluru.