A day after the market holiday on Thursday, the BSE and NSE are going to see the launch of four IPOs in the SME segment. Of these, Infinium Pharmachem and MOS Utility will be launched from the NSE Emerge platform, while the two others Sancode Technologies and Exhicon Events Media Solutions will be launched from the BSE SME platform.
Infinium Pharmachem is contract research and manufacturing services (CRAMS) provider providing customised and confidential solutions to its clients. The company specifically deals in manufacturing and supplying of iodine derivatives, pharma intermediates and APIs. The offer has only fresh issue component.
MOS Utility is a digital products and services provider. The company, which aims to mop up about Rs 50 crore through the SME IPO, is the largest among the four SME IPOs. The IPO will se a total offload of 65.74 lakh shares — fresh issue of 57.74 lakh shares and an offer for sale of 8 lakh shares.
It has fixed a price band for the IPO at Rs 72-76 per share, with a lot size of 1,600 shares.
Exhicon Events Media Solutions
The company provides full range of products and services for the exhibitions, conferences and events industry. Its IPO is a book-built issue with a lot size of 2,000 equity shares. The IPO is completely a fresh issue of 33 lakh shares and aims to raise about Rs 21 crore.
Sancode, which is a software and product development company and offers an API-enabled platform and solutions, will launch a Rs 5.15-crore IPO comprising only the issue of fresh shares. The IPO, which has an offer price of Rs 47 per share, has a lot size of 3,000 equity shares.
Meanwhile, in the financial year 2022-23, the SME IPO segment saw a huge increase in activity with 125 SME IPOs collecting a total of Rs 2,229 crore in comparison to 70 IPOs in 2021-22 which collected Rs 965 crore, according to data from PRIME Database. The largest SME IPO was of Rachana Infrastructure (Rs 72 crore).
Overall, in the financial year 2022-23, a total of 37 Indian companies raised Rs 52,116 crore through mainboard IPOs, which is less than half of the Rs 1,11,547 crore (all-time high) mobilised by 53 IPOs in 2021-22, according to the data from PRIME Database. Overall public equity fundraising also dropped 56 per cent to Rs 76,076 crore, from Rs 1,73,728 crore in 2021-22.
Pranav Haldea, managing director of PRIME Database Group, said Rs 20,557 crore or a huge 39 per cent of the amount raised in 2022-23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore. To be sure though, the amount raised in 2022-23 is still the third-highest ever in terms of IPO fundraise.
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