IPO action today: Manba Finance lists on NSE, BSE on Sept 30, Diffusion Engineers’ public issue closes
IPO action on D-Street on September 30: The primary market is buzzing with activity today with listing, launching and closing of several public issues across the mainboard and the SME segments.
The primary market is set to see significant activity on September 30, with multiple IPO actions unfolding. The mainboard segment will see shares of Manba Finance getting listed on BSE and NSE, while Diffusion Engineers Ltd’s Rs 158-crore public issue will close for subscription today. In the SME segment, Paramount Dye Tec, Subam Papers, and NeoPolitan Pizza and Foods open their IPOs for subscription.
Mainboard segment
Manba Finance, a non-banking finance company focused on two-and-three-wheeler loans, will debut on the BSE and NSE today. The IPO, which closed on September 25, raised Rs 151 crore through a fresh issue of shares, with a price band of Rs 114-120 per share. The stock is expected to list at a strong premium, as indicated by the grey market trends where the shares were trading at a 50 percent premium prior to listing.
Diffusion Engineers Ltd, a manufacturer of welding consumables and heavy machinery, will close its IPO today. The issue, which opened for bidding on September 26, has a price band of Rs 159-168 per share, and the company aims to raise Rs 158 crore. The IPO was subscribed 27.19 times as of September 27. The company’s shares are scheduled to list on the exchanges on October 4.
KRN Heat Exchanger and Refrigeration Ltd will announce the allotment status for its IPO today. The IPO, which closed for subscription on September 27, aimed to raise Rs 341.95 crore and attracted significant interest from investors, being subscribed 11.5 times as of the final day. The issue was priced in the range of Rs 209-220 per share, with a lot size of 65 shares, making the minimum investment approximately Rs 14,300. The company is set to list on the BSE and NSE on October 3, as it looks to bolster its operations in the engineering sector.
SME segment
The SME segment is equally active, with three IPOs opening today. Paramount Dye Tec, a yarns producer for the textile industry, launches its Rs 28.4-crore public issue at a price band of Rs 111-117 per share. The IPO will close on October 3.
Simultaneously, Subam Papers, a Tamil Nadu-based company, opens its Rs 94-crore IPO today with a price band of Rs 144-152 per share. This issue will also close on October 3.
NeoPolitan Pizza and Foods, a quick-service restaurant chain, opens its Rs 12-crore SME IPO today, priced at Rs 20 per share. This IPO will remain open for subscription until October 4.
Other listings and closures
SME IPOs of Nexxus Petro Industries, Forge Auto International, Sahasra Electronics Solutions, and Divyadhan Recycling Industries will close for subscription by the end of today. The market is seeing significant interest, with subscription numbers rising for these offerings.
Bymoneycontrol
