IPO's of two companies to hit markets tomorrow

Atishay Infotech and Aryaman Capital Markets, will come out with their initial share sale tomorrow to together raise up to Rs 8 crore and eventually get listed on BSE's platform for small and medium enterprises.

Shares of both companies would get listed on BSE's dedicated SME platform, prospectus of the companies filed with capital market regulator Sebi said.

IT firm Atishay Infotech is looking to raise Rs 3.71 crore through public issue of 23.20 lakh shares for an average price of Rs 16 apiece.

The firm's Initial Public Offer (IPO) would begin on September 25 and close on September 29.

Aryaman Capital Markets which is also launching its IPO on September 25, would issue as many as 35.90 lakh shares at a price of Rs 12 each, aggregating to an amount of Rs 4.30 crore. The issue of the company would end on October 1.

BSE Managing Director and CEO Ashish Kumar Chauhan had recently said as many 100 companies were expected to be listed on the exchange's SME platform by year-end.

Currently, 67 companies are listed on BSE SME platform and have an aggregate market capitalisation of little over Rs 7,605 crore.

Mumbai-based Atishay Infotech offers wide range of information technology database management and e-governance services including large scale data entry and scanning solutions, digitisation services, among others. It is presently providing services in the states of Maharashtra, Rajasthan, Uttar Pradesh, Bihar and Madhya Pradesh.

On the other hand, Aryaman Capital Markets, also based in Mumbai, is a subsidiary of merchant banker Aryaman Financial Services Ltd and carries out the various fund based and secondary market activities.