Rishabh Instrument among 6 IPOs to watch out this week
SME IPO will close this week.
Primary market from 19 to 25 August has been quite fascinating, with three mainboard IPOs opened for raising a total of Rs 750 crore, said Mahavir Lunawat, Managing Director of Pantomath Capital Advisors.
Mainboard IPO Aeroflex Industries received an enthusiastic response from the investors with subscription figures on the final close day reaching approximately 100 times of the base offer, said Lunawat. «Robust response for the fundamental companies in the primary market shows that retail and HNI’s investors have shown maturity for investing in the fundamentally strong companies in order to ride the Indian growth momentum,» Lunawat added.
IPO amounting close to Rs 6000 crore is expected to open in the next weeks to keep the investors busy in action, Lunawat further stated.
Main Board IPOs
Rishabh Instrument
The initial public offer (IPO) of energy efficiency solutions company Rishabh Instruments will open for public subscription on August 30.
The issue closes on September 1.
The IPO comprises fresh issuance of equity shares worth Rs 75 crore and an Offer for Sale (OFS) of up to 9.43 million equity shares.
Under the OFS, Asha Narendra Goliya will offload about 15,00,000 equity shares, while Rishabh Narendra Goliya will tender 4,00,000 equity shares and 517,500 equity shares will be offloaded by Narendra Rishabh Goliya (HUF). Meanwhile, SACEF Holdings II will tender about 70,10,678 equity shares.
The company has fixed a price band of Rs 418-441 per share and investors can bid for a minimum of 34 shares in one lot and in multiples thereafter.
The proceeds from the fresh issuance worth Rs 59.50 crores will be used towards financing the cost towards the expansion of the Nashik manufacturing
