In the motherboard segment, the public offering of Gala Precision Engineering will open for subscription next week, while Jeyyam Global Foods will announce its IPO for investors in the SME sector.
In addition to the two new issues, Wall Street will also see up to 11 listings, including those of Premier Energies and Ecos Mobility, whose IPOs received a good response last week.
Analysts anticipate that primary market Stocks will remain dynamic for the rest of the year due to favorable market conditions. The strong performance of recently listed IPOs will likely boost confidence among companies.
“This renewed optimism is prompting investors to look for opportunities in the primary market and promoters to raise funds through IPOs. Foreign investors They also favour the Indian primary market for its potential for higher returns,” he said. Pantomath Capital Advisors.
Here’s what’s on the IPO table next week
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 includes a fresh equity issue of 25.59 lakh shares and an offer for sale (OFS) of 6.16 lakh shares.
The proceeds of the fresh issue will be used for setting up a new facility at Vallam-Vadagal for manufacturing of high strength fasteners and hexagon bolts, financing capital expenditure requirements for purchase of equipment, plant and machinery at Wada, Palghar, repayment of debt and general corporate purposes.
Gala Precision is a technology-driven company with a strong focus on quality, design tool development and application engineering.
It has over 3 decades of experience in developing customized products to meet the changing needs of its customers and holds an approximate 15% market share in the domestic SFS market for wind turbines.
PL Capital Markets is the sole lead book-running manager to the issue and Link Intime India is the registrar to the issue.
SME segment
Jeyyam Global Foods’ SME IPO will also open for subscription on September 2. The issue, which closes on September 4, is an entirely fresh sale of 1.34 crore shares.
The IPO is priced between Rs 59 and Rs 61 per share and at the higher end, the company plans to raise around Rs 82 crore.
Jeyyam Global Foods produces and processes Bengal gram (locally known as ‘chana’), fried chickpeas and besan flour and supplies these products to a variety of markets including distributors, large retailers, branded supermarkets, wholesalers, among others.
Corpwis Advisors is the lead order book manager for the IPO, while Kfin Technologies It’s the registrar.
(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of the Economic Times)
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