IPO Action: Three public issues hit Dalal Street this week with 2 companies lined up for listing

The momentum appears to be picking up in the primary market as three maiden public issues will open for subscription in the current week starting from May 4, including one from the mainboard segment.

Bagmane Realty and Infrastructure-sponsored Bagmane Prime Office REIT is the only IPO from the mainboard segment opening this week on May 5.

The price band for the Rs 3,405-crore REIT IPO has been fixed at Rs 95-100 per unit. Bagmane REIT is raising Rs 2,390 crore by issuing fresh units, while selling unitholder will be offloading units worth up to Rs 1,015 crore via offer-for-sale.

Further in the mainboard segment, OnEMI Technology Solutions will close its Rs 926-crore IPO on May 5 and make its market debut in the current week itself on May 8.

The digital lending platform Kissht operator's initial public offering (IPO) was subscribed 24 percent on its first day of bidding i.e. April 30.

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In the SME segment, Value 360 Communications, the marketing and PR solutions provider, is the first to launch its Rs 42-crore IPO this week on May 4. The price band for the offer has been fixed at Rs 95-98 per share.

Recode Studios, which sells beauty and personal care products through omnichannel network, will be the next to open IPO on May 5. The company is raising up to Rs 45 crore at the upper end of price band of Rs 150-158 per share.

Bengaluru-based Amba Auto Sales & Services, which operates as an authorised dealer of Bajaj Auto and LG Electronics India, will be the only SME company listing on the NSE Emerge on May 5. The Rs 65-crore issue was managed to sail through with 1.18 times subscription last week.

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