Upcoming IPOs March 2-6: 1 mainboard IPO, 1 SME issue; 9 key listings to watch in the primary market

The primary market is slowing down in terms of fresh fundraising, but the action is far from over. In the week between March 2-6, investors will see only one mainboard IPO and one SME issue open for subscription. However, the real buzz is likely to revolve around listings, as nine companies are set to make their stock market debut across the mainboard and SME platforms. Let’s take a look at the upcoming IPOs, listings and more – Mainboard IPO In the mainboard space, there is only one issue opening for subscription between March 2-6. Sedemac Mechatronics IPO The mainboard IPO to watch next week is Sedemac Mechatronics, which will open for bidding on Wednesday, March 4, and close on Friday, March 6. The Rs 1,087.5 crore issue is entirely an offer for sale of 80 lakh shares, meaning the proceeds will go to existing shareholders who are selling part of their stake. Promoters Manish Sharma and Ashwini Amit Dixit are among the selling shareholders, along with several institutional investors. The price band has been fixed at Rs 1,287-1,352 per share, and investors can apply in lots of 11 shares. Share allotment is expected to be finalised on March 9, and the tentative listing date is March 11. ICICI Securities, Avendus Capital and Axis Capital are the book-running lead managers, while MUFG Intime India is the registrar. SME Issues There is only one new SME IPOs scheduled to open next week. This keeps overall new issuance limited. Elfin Agro India IPO Elfin Agro India is opening a fixed price IPO worth Rs 25.03 crore, and the entire issue consists of fresh shares, meaning the money raised will go to the company. The IPO will open for subscription on March 5, and close on March 9. The share allotment is likely to be finalised on March 10, and the company is expected to list on the BSE SME platform on March 12. Nine companies set to list next week While new IPOs are few, the listing calendar remains busy. The following companies are expected to debut on the exchanges – Mainboard Listings: Clean Max Enviro Energy – March 2 Shree Ram Twistex – March 2 PNGS Reva Diamond Jewellery – March 4 Omnitech Engineering – March 5 SME Listings: Kiaasa Retail (BSE SME) – March 2 Accord Transformer (BSE SME) – March 2 Mobilise App Lab (NSE SME) – March 2 Yaap Digital (NSE SME) – March 5 Striders Impex (NSE SME) – March 6 Conclusion Overall, the week appears light on new fundraising but heavy on market debuts, making listing momentum the key factor to watch.