Upcoming IPO between March 9-13: 3 mainboard IPO, 1 SME issue, 4 key listings to watch in the primary market

Will the IPO market stay busy even as stock markets remain volatile? The next week could provide the answer. Despite sharp swings on Dalal Street, the primary market is preparing for another active phase with new public issues and multiple listings lined up. The week beginning March 9 is expected to bring three mainboard IPOs, one SME IPO and several stock market debuts. Let’s take a look at the upcoming IPOs and the listings scheduled – Mainboard IPOs Rajputana Stainless IPO Among the key offerings next week is the IPO of Rajputana Stainless, which plans to raise around Rs 254.98 crore from the public markets. The issue will open for subscription on March 9 and close on March 11. The company has fixed a price band of Rs 116 to Rs 122 per share. The public offering will consist of a mix of fresh shares and an offer-for-sale by the promoter. A portion of the funds raised will be used to set up a new manufacturing facility in Gujarat’s Panchmahal district. The company also intends to utilise the proceeds to reduce existing debt, expand its product range and meet general corporate expenses. Innovision IPO The second mainboard offering will come from Innovision, which provides manpower and toll plaza management services. The company’s Rs 322.84 crore IPO will open on March 10 and close on March 12. The shares will be offered in a price band of Rs 521 to Rs 548 each. The issue structure includes both a fresh issue and an offer-for-sale by promoters Randeep Hundal and Uday Pal Singh. Funds raised through the fresh issue will mainly be used to repay debt, support working capital requirements and meet general corporate needs. Infrastructure Investment Trust IPO Investors will also see a large infrastructure investment trust entering the market. The IPO of Raajmarg Infra Investment Trust will open for subscription between March 11 and March 13. Sponsored by the National Highways Authority of India, the InvIT plans to raise about Rs 6,000 crore. The price band has been fixed at Rs 99 to Rs 100 per unit. SME IPO Apsis Aerocom The IPO of Apsis Aerocom will open for public subscription on March 11 and close on March 13. The issue size is about Rs 35.77 crore and it consists entirely of a fresh issue of around 0.33 crore shares. The company has fixed the price band at Rs 104 to Rs 110 per share. The share allotment is expected to be finalised on March 16, and the stock is likely to make its debut on the NSE SME platform on March 18. Several new listings expected The secondary market will also see a number of fresh listings. Companies that recently completed their public issues are expected to start trading on the stock exchanges during the same week. Among the names scheduled to list are SEDEMAC Mechatronics (March 11), Acetech E-Commerce (March 9), Elfin Agro India (March 12) and Srinibas Pradhan Constructions (March 13).