IPO Action This Week: Only two public issues to open, mainboard segment remains quiet

The primary market has not seen strong pick up in the number of IPOs yet, may be partly due to consistent volatile and range-bound trading in the equity markets tracking geopolitical developments. In the current week starting from May 11, only two SME public issues will hit Dalal Street with mainboard segment remaining quiet.

Both Goldline Pharmaceutical, and RFBL Flexi Pack will open their maiden public issues for subscription in May 12.

Goldline Pharmaceutical, the pharma products marketing company, approached capital markets to raise Rs 11.61 crore via initial public offering (IPO) of 27 lakh shares. The price band for the offer has been fixed at Rs 41-43 per share.

The 70.65 lakh shares IPO will fetch Rs 35.33 crore for RFBL Flexi Pack, the manufacturer and trader of printed multilayer flexible packaging materials. The price band is set at Rs 47-50 per share.

Both public issues will remain open for subscription till May 14.

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Meanwhile, Simca Advertising, which provides advertising services with a focus on Out-of-Home media in Maharashtra, will close its Rs 58-crore IPO on May 12. The issue was opened on May 8 and saw a 61 percent subscription on the first day of bidding.

On the listing front, Value 360 Communications is the first to available for trading this week on May 11, followed by Recode Studios which is scheduled for its market debut on May 12.

Simca Advertising will the last company to list shares from the SME segment this week on May 15.

However, there will be no new IPO launch in the mainboard segment. Bagmane Prime Office REIT, the commercial office real estate investment trust focussing on owning and managing premium Grade A+ business parks in Bengaluru, will be available for trading on the bourses on May 15.

The Rs 3,405-crore Bagmane REIT IPO saw a massive 23.71 times subscription during May 5-7.

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