As markets experience sharp downswings and muted recoveries, three companies are set to launch their SME IPOs this week. Yaashvi Jewellers, SMR Jewels, and Rajnandini Fashion India are collectively aiming to raise over Rs 129 crore through their public offerings, which will open for subscription between May 25 and May 29.
Yaashvi Jewellers, headquartered in Jaipur, will open its IPO for public bidding on May 25 and close on May 27. The company plans to raise nearly Rs 44 crore through a fresh issue of shares priced at Rs 83 each, with a lot size of 1,600 shares. The proceeds will be used for working capital requirements, repayment or prepayment of certain borrowings, and general corporate purposes. The shares are set to be listed on the BSE SME platform on June 2.
SMR Jewels, based in Gujarat, will launch its IPO on May 26, closing on May 29, aiming to raise Rs 67 crore. This includes a fresh issue of shares worth Rs 54 crore and an offer for sale of shares worth Rs 13.23 crore. The price band is set at Rs 128-135 per share with a minimum lot size of 1,000 shares. The funds will be utilized for constructing a jewellery studio, repaying borrowings, long-term working capital, and general corporate purposes. The shares will list on the BSE SME platform on June 3.
Rajnandini Fashion India plans to raise over Rs 18 crore through its IPO, open from May 26 to May 29. The garment-maker has set a price band of Rs 59-63 per share for its fresh issue of shares. The proceeds will be used to establish a new manufacturing facility, repay debt, and meet working capital needs.
In addition to these IPOs, the SME IPOs of Q-Line Biotech, Autofurnish, Bio Medica Laboratories, and MR Maniveni Foods, which opened last week, will close for bidding during the upcoming week. This week will also see the SME listings of NFP Sampoorna Foods, Teamtech Formwork Solutions, and Vegorama Punjabi Angithi.
Background
The upcoming IPOs reflect a continued interest in the SME sector despite the current market volatility. Investors should keep an eye on these offerings as they may offer new opportunities in the market.
The upcoming IPOs reflect a continued interest in the SME sector despite the current market volatility. Investors should keep an eye on these offerings as they may offer new opportunities in the market.
