3 SME IPOs open for subscription today. Check details before subscribing
IPO market is thriving with as many as three new issues opening for subscription today. Divine Power Energy, Akiko Global Services, and Petro Carbon and Chemicals are the companies launching their initial shares to investors.
Here are all the details about these 3 IPOs:
Divine Power Energy IPO
The Rs 23 crore IPO of Divine Power Energy opened for subscription today and closes on June 27. The issue is completely a fresh equity sale of 56.9 lakh shares.
The company has fixed a price band of Rs 36-40 per share and investors can bid for 3,000 shares in one lot.
About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the rest 15% for non-institutional investors.
Net proceeds from the issue will be used for working capital requirements and general corporate purposes.
Divine Power Energy mainly sells winding wires to the power distribution companies and transformer manufacturers. Transformers play a critical role in power distribution by regulating the voltage from generation source to the consumer end.
Also Read: Allied Blenders IPO to open on Tuesday. What GMP signals ahead of subscription?
Khambatta Securities is the book running lead manager for the IPO, while Bigshare Services is the registrar.
Petro Carbon and Chemicals IPO
The IPO of Petro Carbon and Chemicals is one of the biggest in the SME segment this year as the company plans to raise around Rs 113 crore.
The issue, which closes on June 27, is completely an offer for sale of 66.17 lakh shares. Since the
