IPO calendar: A cloud kitchen brand among 4 companies to launch public offers this week; check details

Synopsis

Four SME IPOs are set to open this week across food, construction and textile sectors, aiming to raise over Rs 138 crore. While mainboard activity remains subdued, offerings like Vegorama Punjabi Angithi highlight continued traction in niche business models and sustained investor interest in smaller public issues.

India's primary market activity is set to remain busy this week, with four SME public offers looking to raise more than Rs 138 crore through fresh issues and offer-for-sale components across sectors including food services, construction solutions, textiles and packaged foods. However, mainboard IPO activity remains muted.

The IPOs scheduled to open next week include NFP Sampoorna Foods, Teamtech Formwork Solutions, Vegorama Punjabi Angithi and Harikanta Overseas.

NFP Sampoorna Foods IPO

NFP Sampoorna Foods IPO will open first on May 18 and close on May 20. The NSE SME issue aims to raise around Rs 24.53 crore entirely through a fresh issue of shares. The company has fixed the price band at Rs 52-55 per share. Investors can bid for a minimum of 4,000 shares, translating into an investment of Rs 2.2 lakh at the upper end of the price band.

Incorporated in 2019, NFP Sampoorna Foods operates in the dry fruits processing and distribution business, with a primary focus on cashew nuts. The company imports raw cashew material mainly from African markets and supplies processed products in India.

The company plans to utilise IPO proceeds for working capital requirements and general corporate purposes.

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Teamtech Formwork IPO

Another issue opening on May 19 is Teamtech Formwork Solutions, which plans to raise Rs 50.15 crore through a fresh issue on the NSE SME platform.

Teamtech Formwork Solutions manufactures, refurbishes and rents modular formwork systems used in the construction industry. Its products are used across infrastructure and real estate projects, including walls, shafts, tanks, bridges and foundations. The company operates a manufacturing and refurbishment facility in Telangana and provides engineering, technical support and rental solutions for construction projects.

According to its financial disclosures, the company reported a 64% increase in revenue and a 48% rise in profit after tax in FY26. IPO proceeds will primarily be used for setting up a new manufacturing unit, repayment of borrowings and meeting working capital requirements.

Vegorama Punjabi Angithi IPO

On May 20, Vegorama Punjabi Angithi will open its Rs 38.38 crore IPO on the BSE SME platform. The issue consists of a fresh issue worth around Rs 30.7 crore along with an offer-for-sale component of Rs 7.68 crore.

The company has fixed the price band at Rs 73-77 per share. Retail investors will need to apply for a minimum of 3,200 shares, requiring an investment of Rs 2.46 lakh at the upper price band.

Vegorama Punjabi Angithi operates restaurant and cloud kitchen businesses under the “Punjabi Angithi” brand, focused primarily on North Indian and Punjabi cuisine. The company currently operates 19 cloud kitchens and two fine-dining restaurants across the Delhi-NCR region and serves customers through dine-in, takeaway and online delivery channels.

The company plans to use IPO proceeds for expansion of banquet facilities, setting up a centralised kitchen, launching new cloud kitchens and upgrading existing infrastructure.

Harikanta Overseas IPO

The fourth IPO next week is Harikanta Overseas, which will also open on May 20 and close on May 22. The BSE SME issue aims to raise Rs 25.63 crore entirely through a fresh issue of shares. The company has fixed the price band at Rs 91-96 per share, with a minimum retail investment requirement of Rs 2.3 lakh.

Harikanta Overseas manufactures synthetic textile fabrics, including saree fabrics, garment fabrics, poly linen and natural fibre products. The company operates a manufacturing facility in Surat and exports products to markets including Bahrain, Singapore and Thailand.

IPO proceeds will be used for factory expansion, machinery purchases and working capital requirements.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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