IPOs This Week: JNK, Varyaa Creations, Shivam Chemicals, Emmforce To Launch Public Offerings

Following the ongoing trend, the week starting April 22 will be full of SME IPOs, with a total of 4 initial public offerings hitting the markets. The SME IPO segment has witnessed higher activities recently and their returns have also been overwhelming. Here are the 4 IPOs that are going to hit markets this week.

JNK India IPO

The JNK India IPO, whose price band has been fixed at Rs 395-415 per share, will remain open for public subscription between April 23 and April 25. Anchor investors will have the opportunity to place their bids on April 22.

The IPO comprises fresh shares worth Rs 300 crore and an offer-for-sale of up to 8.42 million shares by its existing shareholders and promoters. At the upper price band, the issue size is estimated to be Rs 650 crore, with a post-issue market capitalization expected to reach Rs 2,300 crore.

Varyaa Creations IPO

This SME IPO will remain open for public subscription between April 22 and April 25. The Varyaa Creations IPO, valued at Rs 20.10 crore, consists of fresh shares amounting to 13.4 lakh shares.

Shivam Chemicals IPO

Another IPO to be launched this week, the Shivam Chemicals IPO will be opened on April 22. The initial public offering will be clsoed on April 25. It is a fixed price issue of Rs 20.18 crore. The issue is entirely a fresh issue of 45.87 lakh shares, with an IPO price of Rs 44 per share.

Emmforce Autotech IPO

The Emmforce Autotech IPO, valued at Rs 53.90 crore, comprises entirely of a fresh issue of 55 lakh shares. It will remain opened for public subscription between April 23, 2024, and April 25, 2024. The IPO allotment will likely be finalised on April 26, 2024. The price band for the Emmforce Autotech IPO is set at Rs 93 to Rs 98 per share.

Apart from these, Vodafone FPO closes on Monday. So far, investors have picked up 1,289.8 crore equity shares in the follow-on public offer. Vi’s FPO began on a positive note on Thursday, with the issue subscribed 26% on the first day of bidding, largely driven by strong demand from QIBs.

The telecom giant raised Rs 5,400 crore from institutional investors via the anchor book in the upper price band of Rs 11. The price band for the offer has been fixed at Rs 10-11 apiece.