IPO Watch This Week: Three New Public Issues to Raise Rs 443 Crore Starting April 6
The primary market is set for moderate activity this week, beginning April 6, as three new public issues are scheduled to open despite subdued investor sentiment driven by ongoing geopolitical tensions in West Asia. Together, these companies aim to raise a total of Rs 443 crore from the market.Safety Controls & Devices IPO Opens April 6
The first issue of the week comes from the SME segment, with Safety Controls & Devices launching its IPO on April 6. The Lucknow-based engineering firm plans to raise Rs 48 crore through a completely fresh issue of 60 lakh shares.The price band for the offer has been fixed at Rs 75 to Rs 80 per share.
The company, which operates in the EPC space focusing on substations, solar plants, and firefighting systems, intends to utilize the proceeds primarily for working capital needs and repayment of debt.
Om Power Transmission IPO to Open on April 9
The second offering will be from the mainboard segment, with Om Power Transmission opening its IPO for subscription on April 9. The price band has been set at Rs 166 to Rs 175 per share.The Ahmedabad-based power transmission infrastructure EPC company is looking to raise Rs 150 crore through an issue of 85.75 lakh shares. This includes a fresh issue of 75.75 lakh shares along with an offer-for-sale of 10 lakh shares by promoters.
Proceeds from the fresh issue will be allocated towards the purchase of machinery and equipment, repayment of certain borrowings, and meeting working capital requirements.
PropShare Celestia REIT IPO to Launch on April 10
The third public issue will come from the REIT segment, as Property Share Investment Trust launches the PropShare Celestia IPO on April 10.The company aims to raise Rs 244.6 crore, with the price band set between Rs 10 lakh and Rs 10.5 lakh per unit.
A significant portion of the IPO proceeds, amounting to Rs 237.9 crore, will be used for the acquisition of the Celestia project, along with payments related to the sinking fund and investments into Celestia SPVs through equity and debt instruments.
Ongoing and Upcoming Market Activity
Meanwhile, the IPO of Emiac Technologies, a digital marketing solutions provider, is set to close on April 8. The Rs 31.75 crore issue has seen a subscription of 40 percent over the past four days.On the listing front, Vivid Electromech will be the only company to debut on the exchanges this week. Its Rs 130.5 crore IPO was subscribed 1.05 times and closed on March 30.
Summary
With three new IPOs lined up across SME, mainboard, and REIT segments, the primary market maintains steady momentum this week. However, broader market sentiment remains cautious amid ongoing geopolitical developments, which could influence investor participation in these offerings.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.