Get ready for a busy mid-week with five Initial Public Offerings (IPOs) hitting the markets on June 19th! This wave of offerings caters to various investor interests, with two mainboard IPOs and three SME (Small and Medium Enterprise) IPOs vying for your attention. But before you dive in, let’s break down the details of each company to help you make informed decisions.
Mainboard Players Take IPO Center Stage
DEE Piping Systems IPO
DEE Development Engineers Limited boasts a track record in providing process piping solutions across various industries. Established in 1988, it manufactures pressure vessels, industrial stacks, modular skids, and tailored components like boiler superheater coils and de-superheaters.
Their IPO aims to raise ₹418.01 crores through fresh issues and offers for sale. The offering comprises a fresh issue of 1.6 crore shares totaling ₹325 crores and an offer for sale of 0.46 crore shares amounting to ₹93.01 crores. The price band is set between ₹193 and ₹203 per share.
- Objectives:
- Funding working capital requirements.
- Prepayment or repayment of outstanding borrowings.
- General corporate purposes.
DEE Piping Systems IPO Details
| Offer Price | ₹193 – ₹203 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 June 2024 |
| Closing Date | 21 June 2024 |
| Total Issue Size (in Shares) | 20,591,852 |
| Total Issue Size (in ₹) | ₹418.01 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 73 Shares |
Akme Fintrade India (Aasaan Loans IPO)
A household name in rural and semi-urban India, Aasaan Loans offers credit solutions tailored to these growing markets. Founded in 1996, its portfolio includes vehicle financing and business financing products for small entrepreneurs.
The company has a long history of serving rural and semi-urban markets through consistently high customer acquisition and retention rates and cost-effective expansion into underserved areas. Their IPO is a book-built issue of ₹132 crores, consisting entirely of fresh shares. The price band is set between ₹114 and ₹120 per share.
- Objectives:
- Augment the capital base of the company.
- Meet issue expenses.
Aasaan Loans IPO Details
| Offer Price | ₹149 – ₹120 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 June 2024 |
| Closing Date | 21 June 2024 |
| Total Issue Size (in Shares) | 11,000,000 |
| Total Issue Size (in ₹) | ₹132 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 125 Shares |
SMEs Seeking Growth Capital with IPOs
GEM Enviro IPO
GEM Enviro, which focuses on recycling plastic waste, plays on the growing importance of environmental sustainability. Incorporated in 2013, it specializes in waste management, primarily focusing on recycling all packaging waste, including plastic waste.
Its sub-verticals include EPR consultancy and fulfillment for plastic waste, collection and recycling of industrial plastic waste, marketing of recycled products, and focused consultancy and value-added advisory services in ESG consulting and BRSR (Business Responsibility and Sustainability Reporting).
Their IPO aims to raise ₹44.93 crores through a combination of fresh issue and offer for sale. The price band is set at ₹71 to ₹75 per share.
- Objectives:
- Funding working capital requirements.
- General corporate purposes.
GEM Enviro IPO Details
| Offer Price | ₹71 – ₹75 per share |
| Face Value | ₹5 per share |
| Opening Date | 19 June 2024 |
| Closing Date | 21 June 2024 |
| Total Issue Size (in Shares) | 5,990,400 |
| Total Issue Size (in ₹) | ₹44.93 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 1600 Shares |
Falcon Technoprojects India IPO
Offering mechanical, electrical, and plumbing (MEP) services across diverse sectors, Falcon Technoprojects is a well-established player in the construction domain. Established in 2014, Falcon Technoprojects India Limited provides mechanical, electrical, and plumbing services to its clients across India.
It operates in various sectors, such as petroleum refineries, housing estates, nuclear power, construction, etc. The company offers mechanical, electrical, and plumbing (MEP) services. Their fixed-price IPO of ₹13.69 crores consists entirely of fresh shares priced at ₹92 per share.
- Objectives:
- Working capital requirements.
- General corporate purposes.
Falcon Technoprojects India IPO Details
| Offer Price | ₹92 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 June 2024 |
| Closing Date | 21 June 2024 |
| Total Issue Size (in Shares) | 1,488,000 |
| Total Issue Size (in ₹) | ₹13.69 Cr |
| Issue Type | Fixed Price Issue IPO |
| Lot Size | 1200 Shares |
Durlax Top Surface IPO
Durlax Top Surface Ltd. (DTSL) manufactures solid surface materials, which are sold across India through an extensive distribution network of distributors and direct customers and exported to various countries, such as Dubai, Bahrain, Greece, and Nepal.
It operates through two brands, LUXOR® and ASPIRON®, which provide a wide range of solid surfaces. This manufacturer of solid surface materials caters to both domestic and international markets. Their book-built issue of ₹40.80 crores comprises fresh issue and offer for sale, with a price band of ₹65 to ₹68 per share.
- Objectives:
- Working capital requirements.
- General corporate purposes.
Durlax Top Surface IPO Details
| Offer Price | ₹65 – ₹68 per share |
| Face Value | ₹10 per share |
| Opening Date | 19 June 2024 |
| Closing Date | 21 June 2024 |
| Total Issue Size (in Shares) | 6,000,000 |
| Total Issue Size (in ₹) | ₹40.80 Cr |
| Issue Type | Book Built Issue IPO |
| Lot Size | 2000 Shares |
Conclusion
This is just a snapshot of the five upcoming IPOs. Before making any investment decisions, conducting thorough research on each company’s financials, business model, prospects, and overall market conditions is crucial. Remember, past performance is not necessarily indicative of future results. By carefully evaluating these factors, you’ll be better equipped to decide which, if any, of these IPOs align with your investment goals.
*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.