The bells of Dalal Street welcome nine new SME IPOs today; what are these?

Nine small and medium enterprises (SMEs) make their Dalal Street debut today, listing initial public offerings (IPOs) on both the Bombay stock Exchange (BSE) and the National Stock exchange (NSE).

These SMEs are making their debut even as Indian shares opened lower on Monday after a strong US jobs report that strengthened the case for the Federal Reserve to keep raising interest rates aggressively.

The first nine months of 2022 have already seen 87 SMEs make their IPOs, earning a total of Rs 1,460 crore. The numbers are much higher than the Rs 783 crore raised by 56 companies through their initial share sales through the whole of 2021.

Here’s a look at the nine new SME listings, and how much their initial offerings are worth.

Cargosol Logistics

Logistics and transportation SME Cargosol Logistics’ Rs 7.56-crore IPO opened for subscription on September 28. A minimum of 4,000 equity shares at an issue price of Rs 28 were fixed. The shares are being listed on the BSE.

Cargotrans Maritime

Another logistics service provider, Cargotrans Maritime, opened its IPO for subscription on September 27. A Rs 4.86-crore IPO, a minimum of 3,000 BSE-listed equity shares at an issue price of Rs 45 were fixed.

Concord Control Systems

The IPO of electronic products manufacturer Concord Control Systems opened on September 27, with an aim to raise Rs 7.6 crore in the range of Rs 53 to Rs 55 per equity share. The shares are being listed on the BSE.

Cyber Media

Cyber Media Research & Services opened for subscription an initial offering of Rs 12.66 crore on September 27. For a minimum share lot of 800 equity shares, the price band of Rs 171 to Rs 180 was fixed. Cyber Media’s shares are being listed on the NSE.

Insolation Energy

Insolation Energy is a solar panel manufacturing company. According to media reports, its IPO opened for subscription on September 26 and received bids worth Rs 4,057.07 crore against a starting size of Rs 22.16 crore, and it was subscribed 183 times on the last day of the auction. A minimum of 3,000 shares at an issue price range of Rs 36 to Rs 38 were fixed. The shares are being listed on the BSE.

Reetech International

The coal supplier opened for subscription its Rs 11.71-crore issue on September 27. For a minimum of 1,200 BSE-listed equity shares, the issue price was fixed at Rs 105.

Silicon Rental Solutions

Silicon Rental Solutions opened for subscription on September 28. It aimed to raise Rs 21.15 crore with a fixed price band of Rs 98 per equity share. The shares are being listed on BSE.

Steelman

Fixed with a minimum share lot of 1,200 equity shares at an issue price of Rs 96, the Rs 24.72-crore issue of Steelman Telecom opened for subscription on September 26. It is being listed on the BSE.

Trident Lifeline

The pharmaceutical company was opened for subscription on September 26. Trident’s equity shares are being listed on the BSE. In the Rs 33.57-crore IPO, a minimum of 1,200 equity shares at an issue price of Rs 101 were fixed.