IPOs next week: 2 issues to remain open, 7 new SME companies to make stock market debut
₹3,910 crore and have garnered subscriptions between 12 and 173 times. 2023 has been the year of initial public offerings (IPOs), with 173 small and medium-sized enterprises (SMEs) and 52 mainboard listings to date, along with some outstanding debuts and subscriptions from both. “I believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth, the India manufacturing story, and the feeling that the current ruling dispensation will return to power based on the recent state elections’ performance," said Venkatraghavan S., Managing Director, Investment Banking, at Equirus.
Kay Cee Energy & Infra IPO bidding opened for subscription on December 28, 2023 and will close on January 2, 2024. It is a book-built issue of ₹15.93 crores and is entirely a fresh issue of 29.5 lakh shares. The company has set the price band at ₹51 to ₹54 per share, with a face value of ₹10 per share.
The allotment for the SME IPO is expected to be finalized on Wednesday, January 3, 2024 and the tentative listing date fixed as Friday, January 5, 2024. Kaushalya Logistics IPO bidding opened for subscription on December 29, 2023 and will close on January 3, 2024. It is a book-built issue of ₹36.60 crores and a combination of fresh issue of 33.8 lakh shares aggregating to ₹25.35 crores and offer for sale of 15 lakh shares aggregating to ₹11.25 crores.
The company has set the price band at ₹71 to ₹75 per share, with a face value of ₹10 per share. The allotment for the issue is expected to be finalized on Thursday, January 4, 2024 with tentative listing date fixed as Monday, January 8, 2024. Milestone Alert!
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