New Delhi: After the launch of 52 initial public offerings (IPOs) in recent weeks, the IPO market will experience a brief slowdown. Only two new IPOs are set to open for this next week, aiming to raise Rs 365 crore. IPOs which are scheduled for this week – Garuda Construction and Engineering and Shiv Texchem.
Out of 52 public offerings, 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September 2024.
Garuda Construction and Engineering IPO
Garuda Construction and Engineering IPO is from the mainboard segment and seeks to raise Rs 264 crore. The public offer opens for subscription on October 8, 2024 and closes on 10th October. The Garuda Construction IPO price band is fixed in the range of Rs 92-95 per share.
The retail investors are mandated to apply for a minimum lot size of 157 shares, for which Rs 14,915 investment is required. The sNII are required to bid for a minimum lot size of 2,198 shares, amounting to Rs 208,810; bNII category investors will have to bid for 68 lots, amounting to Rs 1,014,220.
Garuda Construction and Engineering IPO allotment is expected to take place on October 11, 2024.
Refunds process is likely to begin on 14th October.
The shares of the company are expected to be credited to the demat accounts of eligible shareholders on October 14.
The stock will list on BSE and NSE with a tentative date of October 15, 2024.
Garuda Construction and Engineering IPO GMP stood at Rs 22 on October 7 morning, investorgain reported. With the price band of Rs 95, Garuda Construction shares are expected to be listed at Rs 117, expected gain of 23.16 per cent
Shiv Texchem IPO
Shiv Texchem is a SME IPO and will open for subscription during October 8-10. Shiv Texchem IPO, a book built issue of Rs 101.35 crore, opens for subscription on October 8, 2024 and closes on 10th October. Shiv Texchem IPO price band is set at Rs 158-166 per equity share. The retail investors are required to bid for a minimum lot of 800 shares, amounting to Rs 132,800. The minimum lot size investment for HNI is 2 lots, amounting to Rs 265,600.
Shiv Texchem IPO allotment expected on October 11.
Shares likely to be credited to the demat accounts of successful investors on 14th October.
Shiv Texchem IPO will list on BSE SME with a tentative date on October 15.
Shiv Texchem IPO GMP was recorded at Rs 40, investorgain reported. With the price band of Rs 166, the shares of the SME IPO is expected to be listed at Rs 206, an estimated gain of 24.10 per cent.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
IPO alert: Garuda Construction and Engineering IPO and Shiv Texchem IPO are all set to open on October 7 and 8 2024, respectively. Garuda IPO is a mainboard public offer and Shiv Texchem is from SME category. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
