 "2 SME IPOs to hit capital markets next week")
To tap upbeat investor sentiment, two small and medium enterprises (SMEs), Akash Infra Projects and RMC Switchgears, will come out with their initial public offerings (IPOs) next week to raise about Rs 30 crore.
This is in addition to five SMEs that have already hit the capital markets this month.
According to draft papers, Akash Infra Projects plans to mop up Rs 25.5 crore through IPO, which will be open to public subscription between February 28 and March 6.
RMC Switchgears is expected to garner Rs 4.15 crore through the public issue. The IPO will open on February 28 and close on March 3. Proceeds of the issues will be utilised for business expansion plans and working capital requirements, among others.
Shares of Akash Infra Projects will list on NSE's small and medium enterprises platform -- Emerge --, while RMC Switchgears will list its shares on BSE's SME platform.
The stock exchanges -- BSE and NSE -- had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country.
Since then, several companies got listed on them and some have even shifted to the main board.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%