The first business week of September i.e. next week is going to be very important for investors. Only two IPOs will come this week, but 11 companies are going to debut i.e. get listed in the stock market this week. This means that money is going to rain on investors this week. If we talk about IPOs, then in the mainboard segment, Gala Precision Engineering’s IPO will come, which everyone is eagerly waiting for. The second IPO is from the SME sector. The name of this company is Jayem Global Foods.
Apart from the two new issues, Dalal Street will also see the listing of 11 companies, including Premier Energies and Ecos Mobility, whose IPOs received a good response last week. Analysts expect the primary market to remain quite vibrant for the rest of the year due to favorable market conditions. The strong performance of recently listed IPOs will boost confidence among companies.
Pantomath Capital Advisors said that this new optimism is prompting investors to look at opportunities in the primary market and prompting promoters to raise funds through IPOs. Foreign investors are also investing in India’s primary market due to the possibility of high returns. Let us also tell you what are the details of the two IPOs that have been in the stock market.
Gala Precision Engineering IPO
Gala Precision Engineering’s Rs 167 crore issue will open for subscription on September 2 and close on September 4. The company has announced a price band of Rs 503-529 for its public offer. The IPO consists of a fresh issue of 25.59 lakh shares and an OFS of 6.16 lakh shares. The proceeds from the fresh issue will be spent on expanding the business and repaying the debt.
Gala Precision is a technology company with a strong focus on quality, design tools and application engineering. It has over 3 decades of experience in developing customized products to meet the growing needs of its customers and has approximately 15% market share in the domestic SFS market for wind turbines. PL Capital Markets is the sole book running lead manager and Link Intime India is the registrar to the issue.
Jayem Global Foods IPO
The SME IPO of Jayem Global Foods will also open for subscription on September 2. The issue, which will close on September 4, is entirely a fresh equity issue of 1.34 crore shares. The IPO is priced between Rs 59-61 per share and at the upper end, the company plans to raise about Rs 82 crore. Jayem Global Foods produces and processes Bengali chickpeas (locally known as ‘chana’), fried lentils and besan atta and supplies these goods to various markets including distributors, large retailers, branded supermarkets, wholesalers. Corpvis Advisors is the book running lead manager for the IPO, while Kaffin Technologies is the registrar.