IPO Action This Week: Three SME IPOs To Open, Seven Companies Set For Listing

Three SME public issues are scheduled to open for subscription this week, while seven companies will make their stock market debut. No new mainboard IPO is slated for launch during the period. The three SME offerings collectively aim to raise about ₹159 crore. 

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Utkal Speciality Industries IPO

Utkal Speciality Industries, which manufactures paper-based products and packaging materials, will open its IPO on June 10 with a price band of ₹62-66 per share. The issue comprises 52.34 lakh shares and seeks to raise ₹34.5 crore.

The company said the proceeds will be used for working capital requirements, repayment of borrowings, the purchase of machinery for a new manufacturing facility in Khurda, Odisha, and general corporate purposes.

Susan Electricals India To Launch IPO 

Susan Electricals India will launch its IPO on June 11,at a price band of ₹120-127 per share. The company manufactures aluminium and copper-based winding wires, conductors and cables.

The New Delhi-based company aims to raise ₹70.4 crore through an issue of 55.42 lakh shares. The offer includes a fresh issue of 47.42 lakh shares and an offer-for-sale of 8 lakh shares by the promoter. The company said the fresh issue proceeds will be used for expanding its manufacturing facility, meeting working capital requirements, and other corporate purposes.

Horizon Reclaim IPO 

Horizon Reclaim (India) will open its IPO on June 12. The Uttar Pradesh-based reclaimed rubber manufacturer plans to raise ₹54.27 crore through a public issue of 52.69 lakh shares. The price band for the issue has been fixed at ₹98-103 per share.

The company said the funds will be allocated towards working capital needs, debt repayment, installation of additional plant and machinery, and general corporate requirements.

Ongoing IPOs 

In the mainboard segment, Hexagon Nutrition's IPO will remain open for subscription until June 9. The issue received subscriptions worth 1.65 times the shares on offer on the first day.

Among SME issues, UHM Vacation and Vahh Chemicals will close on June 8, while Genxai Analytics will close on June 9. As per the latest exchange data, UHM Vacation was subscribed 67%, Vahh Chemicals 6.19 times and Genxai Analytics 56%.

Upcoming Listings

On the listing front, Merritronix and SMR Jewels IPO were listed on the BSE SME platform on June 8. UHM Vacation and Vahh Chemicals are scheduled to list on June 11, while Genxai Analytics will debut on the NSE Emerge platform on June 12.

In the mainboard category, CMR Green Technologies is set to list on June 10, followed by Hexagon Nutrition on June 11.

The primary market activity this week will remain concentrated in the SME segment, with three new public issues opening for subscription and multiple companies preparing for stock market listings.