No mainboard IPO is opening for subscription next week, so there is a possibility of calmness in the primary market. The bidding process for the initial public offering (IPO) of three small and medium enterprises (SMEs) will begin in the week starting February 2. Apart from this, six companies are preparing to be listed on the stock exchanges. Due to which the stock market is likely to remain vibrant. Let us also tell you which small companies are bringing their IPO in the stock market. Also, which companies can make investors rich through listing.
NFP Whole Foods
NFP Whole Foods initial IPO will open on February 4 and close on February 6. The company is aiming to raise about Rs 24.53 crore through a fresh issue of shares, which has no offer-for-sale component. The proceeds from the issue will be used for working capital needs, loan repayment and general corporate purposes. The company operates in the food processing and trading sector, mainly dealing in dry fruits like cashew nuts, almonds, makhana and walnuts. Its business spans across procurement, processing, packaging and distribution, catering to the needs of domestic and regional markets.
Grover Jewels
Grover Jewels will also open its IPO during the same period, from 4th to 6th February. The company is planning to raise approximately Rs 33.83 crore through new issue of shares. The borrowed funds are expected to meet working capital requirements and other general business needs, as the company looks to expand its operations.
Biopol Chemicals
The third SME issue of the week is of Biopol Chemicals, whose public issue will open on 6 February and will be available for subscription till 10 February. The company is targeting to raise approximately Rs 31.26 crore through the new issue.
Six companies will be listed
Along with the new membership, many companies are set to make their stock market debut in the SME segment. Hannah Joseph Hospital will be the first company to be listed this week, whose shares are going to be listed on the BSE SME platform on February 1. After this will come the number of Kasturi Metal Composite, which is going to be listed on 3rd February.
Activity will pick up in the middle of the week on February 4, when MSFE Equipments, Accretion Nutraveda and Kanishka Aluminum India are all set to list on the BSE SME platform. The week will conclude with CKK Retail Mart, which is expected to list on the NSE SME platform on February 6.