Eight SME IPOs Scheduled To Open This Week On Dalal Street

The primary market is set for an active week beginning May 18, with eight SME initial public offerings opening for subscription across sectors including food processing, pharmaceuticals, diagnostics and automotive accessories.

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The combined fundraising target of these IPOs stands at around ₹440 crore. Q-Line Biotech will launch the largest public issue among the upcoming offerings.

No new mainboard IPO is scheduled this week, marking the second consecutive week without activity in the larger public issue segment.

NFP Sampoorna Foods Opens First

NFP Sampoorna Foods will be the first SME IPO to open this week. The issue opens on May 18 and closes on May 20.

The company, which deals in cashew products, has fixed a price band of ₹52-55 per share and plans to raise ₹24.53 crore through the public offering.

Teamtech Formwork Solutions will follow on May 19. The company manufactures and rents modular formwork systems used in construction projects. It aims to mobilise ₹50.2 crore through its IPO at a price band of ₹61-63 per share.

Three IPOs To Open On May 21

Investors will see two public issues opening on May 20. Restaurant operator Vegorama Punjabi Angithi plans to raise ₹38.38 crore through its IPO with a price band of ₹73-77 per share.

Harikanta Overseas, engaged in synthetic textile fabric manufacturing, seeks to raise ₹25.6 crore. The company has fixed the issue price band at ₹91-96 per share. On May 21, three SME IPOs are scheduled to open simultaneously.

Q-Line Biotech, which supplies diagnostic equipment and in-vitro diagnostic products, plans to raise more than ₹214 crore at the upper end of the ₹326-343 price band. The company stated that proceeds from the issue will be used for working capital requirements and repayment of borrowings.

Bio Medica Laboratories, a Madhya Pradesh-based pharmaceutical formulations manufacturer, aims to raise ₹45.5 crore through its share sale. The company has fixed the price band at ₹132-139 per share.

Autofurnish, which manufactures and trades automotive accessories, is launching a fixed-price issue. The company plans to raise ₹14.6 crore through the sale of 35.61 lakh shares priced at ₹41 each.

M R Maniveni Foods To Open On May 22

M R Maniveni Foods will be the final SME IPO scheduled for the week. The Tamil Nadu-based prepared food products company will open its issue on May 22.

The company plans to raise more than ₹27 crore through an IPO of 52 lakh shares at a price band of ₹51-52 per share.

Meanwhile, two SME companies are set to list on stock exchanges this week. Goldline Pharmaceutical will debut on the BSE SME platform, while RFBL Flexi Pack will list on NSE Emerge on May 19.

Goldline Pharmaceutical’s ₹11.6 crore IPO received subscription of 782 times during the bidding process. RFBL Flexi Pack’s ₹35.3 crore issue was subscribed 20.4 times between May 12 and May 14.