IPO Rise: India’s Market Sees Surge with 30 Mainboard and 100 SME Offerings

The IPO market has been growing steadily in 2024. As of May, there have been 30 IPOs in the mainboard segment and about 100 SME IPOs listed. This growth is attributed to India’s strong economic performance, rising stock prices, and companies surpassing profit estimates.

Three IPOs are scheduled to open for subscription in the first week of June. Kronox Lab Sciences’ IPO will be in the mainboard segment, while Sattrix Information Security and Magenta Lifecare IPOs will be in the SME section.

In addition to these IPOs, six SME IPO companies will be listed at the bourses the following week.

Kronox Lab Sciences IPO Details:

• Subscription for the Kronox Lab Sciences IPO will start on June 3 and end on June 5.
• The price range for Kronox Lab IPO is set at ₹129 to ₹136 per share, with a face value of ₹10.
• Anchor investors contributed ₹39.04 crore to the IPO.
• The IPO’s estimated value at the upper price band is ₹130.15 crore.
• Share allocation is expected to be finalized on June 6, with refunds processed on June 7.
• Kronox Lab Sciences share price is likely to be listed on BSE and NSE on June 10.

Sattrix Information Security IPO:

• Subscription for Sattrix Information Security IPO will be open from June 5 to June 7.
• The minimum lot size is 1,000 shares, priced at ₹121 per share.
• Retail investors can invest up to ₹1,21,000, while HNIs and NIIs must invest in multiples of 2,000 shares.
• The registrar for Sattrix IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Isk Advisors Pvt Ltd.

Magenta Lifecare IPO:

• Magenta Lifecare IPO will open for subscription on June 5 and close on June 7.
• The price band is set at ₹35 per share, with a lot size of 4,000 shares.
• The IPO consists of a fresh issuance of 2,000,000 equity shares.
• The book running lead manager is Fedex Securities Pvt Ltd, and the registrar is Cameo Corporate Services Limited.

SME IPO Listings:

• On June 3, Vilas Transcore IPO shares will list on the NSE SME.
• On June 4, Ztech India IPO and Beacon Trusteeship IPO shares will debut.
• On June 6, Associated Coaters IPO will list on BSE SME.
• Also on June 6, Aimtron Electronics IPO will list on NSE SME.
• On June 7, TBI Corn IPO shares will debut on NSE SME.